Courtesy of John Nyaradi.
Sector ETFs surged last week, likely as apart of the hope and relief rally by equity markets
Sector ETFs surged last week, likely with the hope and relief rally experienced by equity markets. Investors seemed absolutely certain that a default would not happen, so there was plenty of “hope” fuel for the fire. The leading sector ETF for the week was the Energy Select Sector SPDR ETF Fund (NYSEARCA:XLE) which rose 3.14%, and the runner up sector ETF was the Financial Select Sector SPDR Fund ETF (NYSEARCA:XLF) which rose 2.58%. For now we are likely looking at higher prices ahead, unless of course Congress befuddles markets once more.
Sector ETF Update:
Consumer Discretionary Select Sector SPDR Fund ETF (NYSEARCA:XLY): +2.06%, 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): +2.43%, 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): +1.90%, 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): +2.37%, 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): +3.14%, This ETF tracks the Energy Select Sector Index, including oil and gas, energy equipment, and energy services.
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