TradingMarkets 7 ETFs You Need to Know for Wednesday

Positive earnings surprises from retailers like Home Depot and Macy’s helped offset continued declines in home prices. Financials gained and an bounce in crude oil prices put a bid under energy shares.

Here are 7 ETFs You Need to Know for Wednesday.

Extreme oversold conditions have coaxed buyers back into financial stocks across the board on Tuesday. Morgan Stanley
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, Bank of America
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and Goldman Sachs
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were among the bigger stock beneficiaries. In the world of ETFs, financial-related funds from the iShares Dow Jones U.S. Financial Sector ETF
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to the Direxion Financial Bull 3X Shares ETF
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were among the major gainers.

Also higher on the day were energy stocks – particularly oil names like Schlumberger
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and Marathon Oil
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. Both stocks are components of the most widely traded energy exchange-traded fund, the Energy Select Sector SPDRS ETF
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.

After days of increasingly oversold extremes below the 200-day moving average, the Consumer Discretionary Select Sector SPDRS ETF
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gained on Tuesday thanks in large part to the performance of stocks like Home Depot
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and Macy’s
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.

Buyers returned to technology stocks on Tuesday, sending the iShares S&P North American Technology/Semiconductor Index ETF
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higher by more than 5% intraday.

Gold pulled back sharply on Tuesday as traders took gains from a recent cross above the $1,000 level. This meant lower prices for the SPDRS Gold Shares Trust ETF
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, which slipped into oversold territory above the 200-day moving average.

Also lower above the 200-day moving average was the iShares Silver Trust ETF
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which tracks the price of silver. Having broken out above its 200-day moving average two weeks ago, the ETF is now pulling back toward that level.

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