This four day trading week saw no shortage of major events that have left investors with their heads spinning. The week started off flat, until major indexes made a major push forward on Thursday, only to lose nearly all of their ground on a very weak jobs report on Friday. Jobs added for June was expected to hit a level of 125,000, and that report came in at just 18,000, just 14% of what was actually expected. U.S. chief economist, Nigel Gault, said that the current jobs report “is about as bad as anyone could imagine”. Moving over to the ETF world, events were much better, as investors were excited to see the first ever cloud computing product launch, as the new fund traded over one million shares in its first two days on market [see Up In The Clouds: First Cloud Computing ETF Debuts].
Below, we outline the three best ETF stories from around the web this week.
When ETFs Are Lenders at The Wall Street Journal:
The ETF industry has long prided itself on its transparency for investors who want to know exactly what they are buying into. From a buyer’s standpoint, you simply purchase an ETF to gain access to the basket of securities it offers, and don’t think too much about what happens behind the scenes. But some ETFs are taking the money from buyers, and using it to lend out to short-sellers in an attempt to create more value for the particular ETF. This article, by Ari I. Weinberg, explains in detail the complications that can arise from short selling, and exactly how this process works in some of today’s most popular exchange traded products.
Uncle Sam And Investing In Currency ETPs at IndexUniverse:
Prior to ETFs, investors seeking to gain exposure to foreign currencies had to deal with quick trades on complex forex accounts, making these investments virtually off-limits to the typical buy and hold investor. But as the ETF world has begun to develop, it has offered a wealth of various products to invest in a laundry list of currencies from all around the world. When it comes to choosing the correct product though, it may come down to how your fund will treat you come tax season. This article, by Dennis Hudachek, explains the various tax nuances of numerous currency ETPs to help investors pick the right ETF for their portfolio.
ETFdb Category Kings: Best Performers From First Half Of 2011 at ETF Database:
With the first half of 2011 officially behind us, many investors are starting to look back at their portfolios to see how this year has treated them so far. Most major indexes are up on the year, although the past few months have seen a significant amount of volatility in the equity space. This article, by Michael Johnston, outlines the top performing ETPs from every ETFdb Category through the first six months of the year, shedding light onto which asset classes have outperformed, and which ones have lagged behind.
Disclosure: No positions at time of writing.
Click here to read the original article on ETFdb.com.
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After several dismal trading sessions, investors were able to get their minds off of frustrating debt woes, and celebrate a strong earnings lineup from a number of American bellwethers. Now that earnings season is underway, it will likely be the dominant market mover, while governments’ around the world, including our own, try to figure out a way to deal with their respective debt crises. In the US, our situation finally took a turn for the better during Tuesday trading, as President Obama embraced a bipartisan proposal to reign in the deficit and help avoid an early August default. Thanks to these easing tensions, the focus will likely continue to be on the slew of earnings reports that will arise, as some of the most popular blue chip firms get ready to announce their most recent fiscal quarter results [see also ETF Insider: A Most Unexpected Rally].
Yesterday, after the bell, technology giant Apple reported their earnings from Q3 2011. The company famous for bringing us household names like the iPod, iPhone, and most recently the iCloud, a new online storage system for music, is known for their innovation in the tech space. Last year, the company surpassed Microsoft in market capitalization as new products continued to propel them to the front lines of consumer discretionary spending. But the company has been in the limelight in 2011 for different reasons, as CEO Steve Jobs took another medical leave of absence early in the year, with many speculating whether or not he intended to return. COO Timothy Cook took the reins of the company, and has kept them on a steady track as they report their most recent quarter without Jobs behind the helm [see also Five ETFs To Look Forward To].
Analyst estimated the company would bring in EPS of $5.80 per share with revenues just under $25 billion. As is typical Apple fashion, the company blew estimates out of the water, hauling in an astonishing EPS of $7.79 and revenues of $28.5 billion. This big jump was largely due to Apple’s iPad sales which were up over 180% from a year ago, and the company also crushed its iPhone sales estimates as well. Though it did have lower than expected sales of Macs, many had already forecast this number to miss the mark as Apple readies its new Mac lineup. AAPL promptly jumped 7% in after-hours trading though the stock trended below the $400 level shortly thereafter [see also AAPL Weighting In QQQ To Be Slashed].
In light of yesterday’s after-hours earnings announcement, today’s ETF to watch will be the QQQ Trust (QQQQ). This ETF tracks the NASDAQ-100 Index which includes the largest domestic and international nonfinancial companies listed on the Nasdaq Stock Market. Apple ranks as the top holding of the fund, making up over 13% of the product as a whole. Thus far, this fund has gained 1.7% in 2011 while paying out a dividend of about 0.8%. Because Apple makes up such a vital portion of QQQ, its incredibly strong numbers from its most recent quarter will likely lead to a strong trading day for QQQ and the rest of this tech heavy fund.
[For more ETFs to watch sign up for our free ETF newsletter.]
Disclosure: Photo courtesy of Matt Yohe. No positions at time of writing.
Click here to read the original article on ETFdb.com.
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