TradingMarkets 7 ETFs You Need to Know for Tuesday
Growing anxieties about the current rally have a number of analyst encouraging investors and traders to pare back, leading to lower levels across the board for a variety of sectors and international markets.
Here are 7 ETFs You Need to Know for Tuesday.
After ending the week in overbought territory below the 200-day moving average, the ProShares Ultra Financials ETF
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UYG |
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PowerRating) slid by more than 5% on Monday. Shares of JP Morgan Chase & Co.
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PowerRating) and Wells Fargo
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PowerRating) helped lead the sector lower, while stocks like Hartford Financial Services Group
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PowerRating) managed to move higher on the day.
In addition to being counted among financials, Hartford Financial Services Group is also a holding in the SPDR KBW Insurance ETF
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KIE |
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PowerRating). KIE’s largest holdings are in MetLife Inc.
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MET |
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PowerRating) and The Travelers Company
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TRV |
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PowerRating).
Materials stocks were lower, leading both basic materials ETFs and gold ETFs lower on the day. Both the Materials Select Sector SPDRS ETF
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XLB |
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PowerRating) and the SPDRS Gold Shares ETF
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GLD |
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PowerRating) were down more than 2%. Alcoa
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AA |
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PowerRating), a member of the basic materials sector, reports earnings Tuesday after the market closes.
After three days of higher highs, the Semiconductor HOLDRS
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SMH |
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PowerRating) pulled back on Monday. SMH had ended the previous week in overbought territory below the 200-day moving average.
Morgan Stanley
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MS |
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PowerRating) advised on Monday that the rally in stocks had run its course and that clients sell European shares. iShares representing European national markets were lower across the board, with both the iShares MSCI Germany Index ETF
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EWG |
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PowerRating) and the iShares MSCI France Index ETF
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EWQ |
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PowerRating) down by more than 2% after rallying for three days.
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