TradingMarkets 7 ETFs You Need to Know for Thursday
Industrial stocks continued to perform well, boosting ETFs linked to that sector. Basic materials ETFs were also higher, while financial funds tended toward breakeven.
Here are 7 ETFs You Need to Know for Thursday.
Earnings outperformance by Boeing
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PowerRating) on Wednesday helped boost industrial ETFs. The iShares Dow Jones U.S. Industrial Index ETF
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PowerRating) was up more than 3% intraday and the ProShares Ultra Industrials ETF
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Strength in steel stocks contributed toward strength in basic materials ETFs like the ProShares Ultra Basic Materials ETF
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PowerRating), which was up by more than 7% intraday on Wednesday. The rally takes UYM into overbought territory below the 200-day moving average.
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Closing back in overbought territory below the 200-day moving average was the PowerShares QQQ Trust ETF
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PowerRating). The ETF gained more than 2% late in trading on Wednesday.
Gains in financial stocks were limited on Wednesday, leaving the Financial Select Sector SPDRS ETF
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PowerRating) at more or less breakeven levels. Wells Fargo
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The PowerShares DB U.S. Dollar Index Bullish ETF
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PowerRating) pulled back for a second consecutive day above the 200-day moving average on Wednesday. The ETF is not technically in oversold territory yet, however.
Closing for a second day in a row in oversold territory above the 200-day moving average is the iShares Barclay’s 20+ Year Treasury Bond Index ETF
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PowerRating).
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