These ETFs Are Moving After Oil's Big Week And Drama In Turkey
The market bounced back with hearty enthusiasm this week after a punishing start to the year that included wide swings in both directions.
The SPDR S&P 500 ETF Trust (NYSE: SPY) gained more than 3 percent as strong jobs data and a consolidation in interest rates helped buoy confidence in stocks.
The biggest story of the week might be the strength in the United States Oil Fund LP (ETF) (NYSE: USO), which gained more than 10 percent in the form of a sharp bear-market rally. Many analysts are focusing on the volatility in crude oil as a function of aggressive trading bets, but it may be too early to tell whether a true bottom has been established.
The following ETFs represent a sample of the best- and worst-performing funds over the last five trading sessions.
BEST: Oil And Gas Exploration Stocks
SPDR S&P Oil & Gas Exploration & Production ETF: The aforementioned rally in crude oil prices was a tailwind for oil and gas exploration stocks this week. The SPDR S&P Oil & Gas Exploration & Prod. (ETF) (NYSE: XOP) gained nearly 13 percent since last Friday, January 30, as these small energy sector companies jumped in response to commodity data.
This ETF tracks 83 publicly-traded stocks engaged in support of larger oil producers in the energy field. It has $1.7 billion in total assets and charges an expense ratio of 0.35 percent.
Since the beginning of the year, the E&P fund has gained over 8 percent and is back above its 50-day moving average as it attempts to recover from the steep drop it experienced in 2014.
WORST: Turkish Stocks
iShares MSCI Turkey ETF: Turkish stocks have been under pressure this week as political maneuvering has made waves through the financial markets. The Ishares Msci Turkey Inv Market Index Fd (NYSE: TUR) fell more than 5 percent to its lowest levels of 2015.
MSCI Turkey is made up of 79 publicly-traded companies in this key Middle Eastern economy, and has over $560 million in total assets. It's heavily weighted in the financial sector, with over 47 percent of its asset allocation located there.
Turkey is also heavily represented in many diversified emerging market bond indexes.
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