TradingMarkets 7 ETFs You Need to Know for Wednesday
Selling in financial shares continued to dominate trading on Tuesday, keeping the markets in general from moving higher. Meanwhile around the globe, a number of ETFs based on countries in the Pacific Rim continue to pull back toward their 200-day moving averages.
Here are 7 ETFs You Need to Know for Wednesday.
Profit-taking continued in the financials, with stocks like Bank of America
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PowerRating) and Wells Fargo
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PowerRating) coming under some of the more aggressive selling on Tuesday. Continuing to pullback after reaching overbought extremes below the 200-day moving average was the iShares Dow Jones U.S. Financial Sector ETF
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PowerRating).
Sellers were also active in consumer discretionary stocks. Ford Motor Company
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F |
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PowerRating) down to their 200-day moving averages.
ETF traders and investors can get exposure to consumer cyclical stocks from around the world through the iShares S&P Global Consumer Discretionary ETF
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PowerRating), which includes non-U.S. stocks like Vivendi and Volkswagen AG.
Pacific Rim ETFs continue to pull back above their 200-day moving averages. These ETFs include the iShares MSCI Taiwan Index ETF
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PowerRating) and the iShares MSCI Australia Index ETF
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PowerRating). Moving above its 200-day moving average for the first time since June 2008 intraday on Tuesday was the iShares MSCI Japan Index ETF
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PowerRating).
The SPDRS Gold Shares ETF
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GLD |
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PowerRating) continued higher on Tuesday, reaching its highest closing levels since earliest April. GLD tracks the price of gold bullion rather than the share prices of gold mining companies.
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