The markets continued to tread water for a third consecutive day on Wednesday, allowing oversold conditions in many markets to become less so going into the end of the week. Buyers regained the upper hand in financials and technology, leading to higher prices for the ^IYF^, which was up more than 2%, and the ^IGW^, which gained well over 1%.
Pulling back even closer to its 200-day moving average was the ^DIG^, the leveraged ETF’s increasingly oversold condition typical of most energy ETFs.
Here are 7 ETFs You Need to Know for Thursday.
Among the top ETF PowerRatings funds ahead of trading on Thursday are the ^EWA^ and the ^EWO^. Both ETFs earned ETF PowerRatings upgrades from 9 to 10 during Wednesday’s session.
With the high number of oversold exchange-traded funds currently in the market, ETF PowerRatings upgrades were hard to find. However, earning an upgrade from 8 to 10 over the course of trading on Wednesday was the ^RWX^.
Bloomberg TV reported on Tuesday that Pimco’s Bill Gross is newly a fan of at least three of the so-called BRIC nations – namely, Brazil, India and China (sorry Russia). ETF traders and investors can get exposure to the biggest and most liquid stocks from these countries through country funds like the ^EWZ^, the ^FXI^ and any one of a variety of India-based ETFs – from the ^PIN^ to the ^EPI^.
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