TradingMarkets 7 ETFs You Need to Know for Friday
Safety stocks in utilities, health care and consumer staples were the top choices of traders and investors on Thursday as the markets in general moved lower. Short funds gained on the day, especially leveraged funds linked to basic materials and technology and semiconductors.
Here are 7 ETFs You Need to Know for Friday.
Without a doubt the brightest place for traders and investors in the markets was in the health care sector, with a number of stocks – from United Health Group
(
UNH |
Quote |
Chart |
News |
PowerRating) to Wellpoint Inc.
(
WLP |
Quote |
Chart |
News |
PowerRating) – gaining on the day. This helped boost health care oriented ETFs such as the iShares Dow Jones U.S. Health Care ETF, IYH
(
IYH |
Quote |
Chart |
News |
PowerRating) and the Health Care Select Sector SPDRS, XLV
(
XLV |
Quote |
Chart |
News |
PowerRating).
Boosted by stocks such as FPL Group Inc.
(
FPL |
Quote |
Chart |
News |
PowerRating) and AES Corporation
(
AES |
Quote |
Chart |
News |
PowerRating), the Utilities Select Sector SPDRS, XLU
(
XLU |
Quote |
Chart |
News |
PowerRating), were among the few sector-based ETFs to make gains on Thursday.
One of the sectors that provided early leadership on Thursday were stocks in the Consumer Staples sector, such as Pepsi Bottling Group
(
PBG |
Quote |
Chart |
News |
PowerRating) and Coca-Cola Enterprises
(
CCE |
Quote |
Chart |
News |
PowerRating). This sector can be traded by way of the Consumer Staples Selecct Sector SPDRS, XLP
(
XLP |
Quote |
Chart |
News |
PowerRating), a popular choice during times of economic uncertainty.
Gaining from the sell-off on Thursday were inverse or short exchange-traded funds that were as diverse as the ProShares UltraShort Basic Materials ETF, SMN
(
SMN |
Quote |
Chart |
News |
PowerRating) and the ProShares UltraSemiconductor ETF, SSG
(
SSG |
Quote |
Chart |
News |
PowerRating).
After 11 consecutive up sessions and rising deep into overbought territory, the CurrencyShares Euro Trust, FXE
(
FXE |
Quote |
Chart |
News |
PowerRating) reversed and sold off on Thursday. The Euro-tracking ETF was within two points of reaching its 200-day moving average.
According to a recent report, eight out of ten securities traded are exchange-traded funds. Want to learn how to trade them? Click here to find out what traders are saying about Larry Connors’ new book, Short Term Trading Strategies That Work: A Quantified Guide to Trading Stocks and ETFs!