U.S. stocks finished last week with modest gains, but those modest gains belie what was a wild week on Wall Street. Stocks surged last Monday, even with oil slumping to a six-year low. Then came news out of China that the central bank there moved to devalue the yuan.
That news sent shockwaves through global financial markets, in particular, through already vulnerable emerging markets. As for exchange-traded funds investors should be closely monitoring this week, there are plenty to choose from. Starting with the embattled energy sector is a fine idea.
Energy
It would be easy to highlight obvious funds, including the United States Oil Fund LP (ETF) (NYSE: USO) and the Energy Select Sector SPDR (ETF) (NYSE: XLE), the largest equity-based energy ETF. All USO did last week was lose nearly 4 percent on its way to touching another all-time low on Friday. Give XLE some credit. It managed a weekly gain of almost 3 percent.
The ETF is, however, still down 12.4 percent year-to-date and enters Monday trading at its lowest levels in three ...
/www.benzinga.com/news/earnings/15/08/5768881/oil-retail-and-more-this-weeks-etfs-to-watch alt=Oil, Retail And More: This Week's ETFs To Watch>Full story available on Benzinga.com
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