ETF Outlook for the Friday June 6, 2014
iShares MSCI Spain ETF (NYSE:
Stocks continue to rally in Europe after the
European Central Bank
announcement Thursday morning. The Spanish stock market index is
up over one percent and may send shares of EWP higher on the open
Friday morning. The ETF was up two percent Thursday and is
closing in on a four-year high at the $46 area.
A rally to at least test the old resistance is becoming more
likely in the weeks ahead.
4 ETFs Moving On The ECB Decision
SPDR S&P 500 (NYSE:
The S&P 500 tracking ETF closed at yet another all-time
high Thursday after gaining 0.65 percent on the session thanks to
an afternoon rally.
Investors must be bullish on Friday morning's ever-important
monthly jobs number as the volume was above average Thursday
ahead of the number. If the number is perceived as negative, look
for support on SPY at the $192 area in the coming days.
SPDR Gold ETF (NYSE:
Shares of gold were able to rally Thursday after the European
Central Bank lowered the interest rate on three key numbers. The
0.75 percent gain was solid, but the gold bugs were definitely
looking for a bigger rally. The inability for gold to rally on
days when it typically would be a market leader is extremely
bearish in the near-term and why the ETF is a few days from a
IQ U.S. Real Estate Small Cap ETF (NYSE:
A 1.9 percent rally Thursday for ROOF put the ETF at the best
level in two years, as the REITs have quietly been outperforming
the market. With interest rates low and no near-term catalyst to
send rates higher, the high-yielding REITs are an attractive
investment for income-seeking investors.
The ETF concentrates on small cap REITs, which have
outperformed its large cap peers in four out of the last five
years. The ETF currently pays a 7.45 percent dividend.
© 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.