This week offers a host of economic data on the domestic front, with a line-up of earnings from the tech and energy sectors, while U.S. GDP on Friday will be the main focus. Further volatility in the currency markets will continue to push equities around, and the Bank of England's Minutes will hopefully shed more light on the progress of the global economic recovery and how the nation plans on keeping inflation in check over the medium term [see Why the Japanese Yen ETF Is Up].
Below, we profile three ETFs that are likely to be active in trading over the next five days [for more ETF insights, sign up for our free ETF newsletter].
HOLDRS Merrill Lynch Software Holdings
Why SWH Will Be in Focus: This ETF holds a concentrated basket of leading software companies. SWH has a total of 13 holdings, with the majority being giant/large-cap names. Adobe Systems
Global X China Energy ETF
Why CHIE Will Be in Focus: Volatility in the energy markets has been overwhelming lately. Investors who are uncertain about the developments in the Middle East, but bullish on rising energy demand, might want to keep an eye on CHIE. This fund tracks the S-BOX China Energy Index, and it is designed to reflect the performance of the energy sector in China. The benchmark is made up of securities of companies that have their main business operations in the energy sector and are domiciled in China, or have their main business operations in this country [see CHIE Holdings]. CNOOC
iShares Dow Jones U.S. Home Construction Index
Why ITB Will Be in Focus: The economic recovery has been progressing rather sluggishly in the job and housing markets. Pending home sales continue to miss expectation and year-over-year sales improvement has been minimal. ITB tracks the Dow Jones U.S. Select Home Construction Index, and Lennar is the second-largest holding within the fund's total portfolio of 28 Building & Construction companies. Lennar accounts for 7.4% of the ITB's holdings and is one of the nation's leading home builders for single-family and multi-level residential homes. The stock is currently trading right under $20, and considering its 52-week high comes in at $21.79 a share, the company will likely need to impress the market when it reports earnings on Thursday if it is to avoid a sell-off [see ITB Fundamentals]. Lennar has gained almost 4% since its last upbeat earnings report in early January, while ITB has lost over 3.5% in that same time period. Look for trading volumes of ITB to increase as the fund will likely get some attention from traders and investors after Lennar posts performance results and offers insights about the recovery of the housing industry going forward.
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