ETF Outlook for Friday, May 16, 2014
First Trust NASDAQ Global Auto ETF (NASDAQ: CARZ)
April European car registrations increased by 4.2 percent to 1.13 million from 1.08 million a year ago, the slowest pace in five months. The data adds to a recent flurry of economic numbers out of the region suggesting that the turnaround has been hitting some turbulence.
Auto sales in Germany, which make up about one-fourth of all deliveries, were down 3.6 percent in April. Despite not great news about the autos as a whole recently, CARZ has been able to hold up well. The key is for CARZ to continue to stay above the $38 level to keep it from breaking the current consolidation.
iShares U.S. Telecommunications ETF (NYSE: IYZ)
Warren Buffett announced an 11-million share stake ...
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