ETF Outlook for Friday, January 24, 2014
ROBO STOX Global Robotics and Automation Index ETF (NYSE:
One of the top holdings in ROBO, Intuitive Surgical (NASDAQ:
) reported earnings after the bell yesterday that showed both
revenue and earnings falling from one year earlier.
The number of its cornerstone robotics surgical system, the da
Vinci, fell to 138 in the fourth quarter versus 175 the same
quarter last year. The stock is moving lower on the news. With
ISRG in the top five holdings for ROBO it could lead to the ETF
beginning the day on the defensive.
iShares Dow Jones Transportation Average Index ETF (NYSE:
While the Dow Jones Industrial Average closed at a five-week
low, the transports added 0.3 percent yesterday to close at the
highest price ever. The outperformance was led by a 16.5 percent
gain in Gatx Corp (NYSE:
) to a new all-time high. The railroad stocks continued their
strong year with three stocks in the sector closing in positive
Some Companies (And Their Ads) To Watch During
the Super Bowl
The breakout to new highs was one of the few silver linings in
yesterday's beat down of the bulls. The other factor that makes
IYT attractive is the increase in volume over the last three days
as the ETF have moved higher. The volume yesterday was the best
of the year on a day that saw the ETF close at an all-time high;
very bullish action.
Rydex CurrencyShares Euro ETF (NYSE:
A gap higher in the Euro versus the U.S. Dollar helped FXE
close Thursday with a gain of 1.1 percent. This comes just a few
days after the currency hit a two-month low versus the greenback.
The reason for the breakout was better than expected PMI news for
the eurozone along with Spain showing positive GDP for the second
Subpar economic news out of the American economy did not help
matters for the U.S. dollar. The likelihood of the taper taking
longer than expected is increasing, which is negative for the
Global X Nigeria Index ETF (NYSE:
The African country that has been gaining more attention from
investors around the globe continues its current uptrend with a
gain of 0.6 percent yesterday. Looked upon as an oil and gas play
for years, the country is beginning to expand into other
industries and with growth expected to be robust in the coming
decade, the ETF is an interesting long-term opportunity.
The risk here is geopolitical uncertainty in the country and
the region, however with big reward potential comes above-average
(c) 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
Free Trading Education -
Check out the free events taking place on Marketfy
this week. Spaces are limited. Sign up today.