TradingMarkets 7 ETFs You Need to Know for Tuesday
A $586 billion financial rescue package in China puts the world’s most vibrant economy fully on the side of dramatic financial stimulus along with Western nations.
Optimism over the Chinese financial stimulus plan however evaporated as analyst estimates of weaker revenues for companies operating in both the technology and financial sector took over the headlines on Monday.
Here are 7 ETFs You Need to Know for Tuesday.
A $586 billion stimulus package in China will likely continue to draw traders and investors attention toward exchange-traded funds such as the iShares
FTSE/Xinhua 25 exchange-traded fund, FXI
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PowerRating). Trading volumes in FXI have steadily increased every session since the beginning of the month.
Down nearly 10%, the ProShares Ultra Financial ETF, UYG
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PowerRating), have resumed the decline that began on November 5th and are now oversold below the 200-day moving average.
A pessimistic Morgan Stanley analyst report on computer makers helped weigh on technology ETFs. The ProShares UltraShort Technology ETF, REW
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PowerRating) gained more than 5% late in trading on Monday. The Nasdaq 100 was lower, with the PowerShares QQQ Trust exchange-traded fund, QQQQ
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PowerRating), down more than 2% and closing below its 5-day moving average for the fourth day in a row.
Retailers, as measured by the Retail HOLDRS Trust, RTH
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PowerRating), have closed lower for three out of the past four trading days and was lower by nearly 2% late in trading on Monday. Two retailers, TJX Companies and Liz Clairborne, report earnings Tuesday morning. And Macy’s reports on Wednesday.
Up nearly 6%, the ProShares UltraShort Utilities ETF, SDP
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PowerRating), rebounded on Monday from the oversold conditions left by Friday’s utility stock rally.
The S&P Homebuilders Index Fund SPDRS, XHB
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PowerRating) set a new 7-day low beneath the 200-day moving average on Monday. XHB lost more than 6% on the day.
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