TradingMarkets 7 ETFs You Need to Know for Friday
Sellers drove markets across the board lower on Thursday, sending a variety of exchange-traded funds (ETFs) back into oversold territory. Among the bigger pullbacks were those in the financial sector, such as the drop of more than 11% in the ^FAS^, as well as the materials sector, with the ^UYM^ off well over 8%.
Among equity index ETFs, the pullback in the ^DIA^ held up better than funds representing the Nasdaq 100 and S&P 500.
Here are 7 ETFs You Need to Know for Friday.
Top ETF PowerRatings funds going into the final trading day of the week include the ^IGW^, which on Thursday reversed three day’s worth of gains in closing down more than 4%.
Two of the exchange-traded funds earning the biggest ETF PowerRatings upgrades of the day were the ^RKH^ and the ^VWO^, both of which were upgraded from 5 to 9 ahead of trading on Friday.
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The most oversold ETF in our database? Among country funds that award goes to the ^EWM^, which lost more than 2% on Thursday in closing at new short-term lows.
Two days in overbought territory below the 200-day moving average was enough to bring out sellers in Chinese exchange-traded funds like the ^TAO^.
The U.S. Dollar resumed its advance on Thursday, helping stoke oversold conditions in commodities and commodity ETFs. Plunging further below its 200-day moving average is the ^UDN^ while the ^GLD^ lost more than 4% to close in oversold territory above the 200-day moving average.