TradingMarkets 7 ETFs You Need to Know for Tuesday
Financial stocks led the market early and often, helping the blue chip indexes fight off aggressive selling near midday. Emerging markets were also higher on Monday, rebounding after days of declines.
Here are 7 ETFs You Need to Know for Tuesday.
The government takeover of Fannie Mae and Freddie Mac encouraged widespread buying in financial shares, boosting financial-related ETFs such as the ProShares
UltraFinancials ETF, UYG
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PowerRating), which were up more than 5% – though closing well-off their highs – on Monday.
Also up early and reversing intraday to close off the highs were the Select Financial Sector SPDRS, XLF
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Springing higher on Monday were international and emerging markets-related ETFs, including the iShares MSCI Taiwan Index exchange-traded fund, EWT
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PowerRating), which were up more than 4% intraday.
The rally in financial shares brought on aggressive selling in the ProShares UltraShort Financials ETF, SKF
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PowerRating), which pulled back by more than 6% on Monday.
Also moving lower were the ProShares UltraShort Russell 200 exchange-traded fund, TWM
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PowerRating), which lost nearly 4% after two days of extremely overbought conditions.
Although off its intraday highs, the PowerShares DB USD Bullish ETF, UUP
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Pulling back below its 5-day moving average and trading above its 200-day moving average, the ProShares UltraShort MSCI Japan exchange-traded fund, EWV
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PowerRating).
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