TradingMarkets 7 ETFs You Need to Know for Monday
Selling in financials and technology stocks weighed down the markets – to say nothing of the ETFs that represent those sectors. Early strength in select emerging markets ETFs faded after midday.
Here are 7 ETFs You Need to Know for Monday.
Representative of the continued selling in financial shares was the decline in the iShares Dow Jones U.S. Financial Index ETF
(
IYF |
Quote |
Chart |
News |
PowerRating), which includes Bank of America
(
BAC |
Quote |
Chart |
News |
PowerRating) and JP Morgan Chase& Company
(
JPM |
Quote |
Chart |
News |
PowerRating), which was down for a fifth day in a row.
As such, the Direxion Financial Bear 3X Shares ETF
(
FAZ |
Quote |
Chart |
News |
PowerRating) was up more than 13%, closing higher for a fifth day in a row and setting a new year-to-date high.
JP Morgan Chase & Company’s downward revision of its sales estimates for Mac computers and iPhones led to selling in shares of Apple
(
APPL |
Quote |
Chart |
News |
PowerRating), which encouraged broader selling in technology shares. The Technology Select Sector SPDRS ETF
(
XLK |
Quote |
Chart |
News |
PowerRating) has closed lower for four out of the past five days including Friday.
Also down four out of the past five trading days was the Energy Select Sector SPDRS ETF
(
XLE |
Quote |
Chart |
News |
PowerRating). XLE has spent the week in a trading range between $38 and $42.
Although ending Friday near its session lows, the iShares MSCI Taiwan ETF
(
EWT |
Quote |
Chart |
News |
PowerRating) still managed to make a 12-day closing high on the day.
The PowerShares DB U.S. Dollar Index Bullish Fund ETF
(
UUP |
Quote |
Chart |
News |
PowerRating) closed at its lowest levels since the end of February. The ETF, which tracks the Deutsche Bank Long U.S. Dollar Futures Index, also closed below its 5-day moving average for the first time in eight trading days.
Soaring by more than 4% on an intraday basis, the Biotech HOLDRS
(
BBH |
Quote |
Chart |
News |
PowerRating) closed at its highest levels of the week. Over 40% of BBH is represented by one stock, Genentech
(
DNA |
Quote |
Chart |
News |
PowerRating), which is the object of a hostile takeover by Swiss pharmaceutical giant, Roche.
Learn How to Trade ETFs! Click here to find out more information about our upcoming High Probability ETF Trading seminar next Friday led by TradingMarkets founder and CEO, Larry Connors!