Here are some notable ETFs worth taking a look at for Tuesday,
October 15, 2013.
Market Vectors Semiconductor ETF (NYSE:
The ETF closed yesterday at a multi-year high as the
technology stocks rebounded from early losses. While the breakout
was significant, a close above $41.41 would put the ETF above the
2007 and at the best level in a decade.
The top holding, Intel (NASDAQ:
), which makes up 19 percent of the ETF reports earnings after
the bell Tuesday and could be the catalyst for a new high. The
ETF closed Monday at $40.75.
iShares U.S. Pharmaceuticals ETF (NYSE:
The drug stocks took a drubbing last week along with the
biotech stocks as investors moved out of the health care sector.
The good news is that the uptrend remained intact and IHE bounced
off support at the $103 area before closing Monday at
$106.01/share. Before the bell Tuesday morning the top holding,
Johnson & Johnson (NYSE:
), reports quarterly earnings. The stock makes up 11 percent of
iShares Dow Jones U.S. Home Construction ETF (NYSE:
A report yesterday was released that showed housing
affordability hit a 4-year low as mortgage rates continue to
rise. The news hit the homebuilders and related stocks. The
biggest sector ETF laggard was ITB with a loss of 0.8 percent.
Since topping out in May the ETF has been lagging the market and
is only up 2.7 percent in 2013.
The end of the government shutdown should instill more
confidence into potential homebuyers and help ITB. The one risk
is that mortgage rates will continue to increase in the coming
years, which is almost a certainty.
iShares MSCI Brazil ETF (NYSE:
One of the worst performing country ETFs in the world in 2013
is EWZ, with a loss of nearly 10 percent. But as of late the ETF
has been perking up and rallied 1.4 percent yesterday to close at
the best level in four months.
If EWZ can hold above the $50 resistance level it could be the
boost the ETF needs to continue the uptrend back to the
mid-$50's. Could the upcoming World Cup and Olympics finally be a
boost to the country?
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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