Here are 7 ETFs You Need to Know for Monday.
Up more than 5% intraday on Friday was the ProShares Ultra Oil & Gas ETF (DIG | Chart | News | PowerRating). The ETF soared as traders and investors bid shares of stocks like Schlumberger (SLB | Chart | News | PowerRating) and Occidental Petroleum (OXY | Chart | News | PowerRating) higher on the day.
European country funds gapped higher early on Friday and continued to climb throughout the trading day. The iShares MSCI Germany Index ETF (EWG | Chart | News | PowerRating) and the iShares MSCI France Index (EWQ | Chart | News | PowerRating) both added more than 3%.
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Consumer discretionary ETFs, including those linked directly to the retail sector, were also among the day's best performers. The Retail HOLDRS ETF (RTH | Chart | News | PowerRating) returned to year-to-date highs, gaining more than 1% late in trading on Friday.
One exception to the trend of Asian ETF short-term underperformance relative to European country ETFs was the India Fund (IFN | Chart | News | PowerRating), an ETF we have been tracking all week in TradingMarkets 7 ETFs You Need to Know for Today. IFN was up more than 3% intraday on Friday.
Looking for ETFs that are pulling back amidst the rally? Bond ETFs such as the iShares Barclays Aggregate Bond ETF (AGG | Chart | News | PowerRating) and the iShares iBoxx Investment Grade Corporate Bond ETF (LQD | Chart | News | PowerRating) may be among the places for short-term traders to look.
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