Courtesy of John Nyaradi.
Sector ETFs finished positive last week, despite a looming US Default next week
Sector ETFs finished mostly in the green last week, with all but the Consumer Discretionary Select Sector SPDR Fund ETFn (NYSEARCA:XLY) (which lost .31%) finishing positive. The Consumer Staples Select Sector SPDR Fund ETF (NYSEARCA:XLP) led the pack with a 1.91% increase, and the Financials Select Sector SPDR ETF (NYSEARCA:XLF) finished second with a 1.30% increase.
Sector ETFs likely finished in the green due to the hope that Congress was going to resolve the debt ceiling debate last week. Congress still has yet to resolve the crisis, so we could be looking at sector ETF declines this coming week.
Sector ETF Update:
Consumer Discretionary Select Sector SPDR Fund ETF (NYSEARCA:XLY): -.31%, This ETF tracks the Consumer Discretionary Select Sector Index which includes media, retail, hotels, leisure, and restaurants.
Sector SPDR Trust SBI Interest ETF (NYSEARCA:XLK): +.84%, This ETF tracks the Technology Select Sector of the S&P 500 Index which includes companies in computers, semiconductors, telecommunications, and wireless.
Industrial Select Sector SPDR Fund ETF (NYSEARCA:XLI): +1.15%, This ETF tracks the Industrial Select Sector Index which consists of aerospace, industrial, rail, airfreight, and construction and engineering.
Materials Select Sector SPDR Fund ETF (NYSEARCA:XLB): 0.00%, This ETF tracks the Materials Select Sector Index including chemicals, metals and mining, packaging, and construction materials.
Energy Select Sector SPDR Fund ETF (NYSEARCA:XLE): +.86%, This ETF tracks the Energy Select Sector Index, including oil and gas, energy equipment, and energy services.
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