Market Overview

Japan, Natural Gas And NASDAQ Composite ETFs To Watch This Week

Japan, Natural Gas And NASDAQ Composite ETFs To Watch This Week

The cohesive plan laid out by leaders of Greece and key Eurozone heads of state was the primary catalyst for stocks continuing to march higher last week. Stocks continue to climb a wall of worry that underscores the resilience of this late-stage bull market, while a glimmer of hope has now been ignited in Europe.

The week ahead features several key economic releases including the consumer price index, durable goods orders and testimony from Fed Chairwoman Janet Yellen to Congress.

Here are the key ETFs to watch for the week of Monday, February 23:

iShares MSCI Japan ETF (NYSE: EWJ)

Japanese stocks rose to a new 52-week high on Friday and have been nearly vertical over the last six weeks. EWJ is the largest single-country focused ETF with $14.8 billion in total assets. This fund provide exposure to 311 large and mid-sized companies in Japan, the world's third-largest economy by nominal GDP.

EWJ has risen 9.70 percent on a year-to-date basis as the Japanese yen currency has significantly stabilized from the drop it experienced last year.

Related Link: Best And Worst ETFs Of The Week Amid Greek Relief Deal

United States Natural Gas Fund (NYSE: UNG)

Natural gas prices experienced the same deflationary spiral as crude oil last year, but have been finding strength in recent weeks as cold weather sinks in to the Northeast. UNG tracks the daily spot price of natural gas futures, which are traded on the NYMEX exchange.

The continuation of severe cold weather across a wide swath of the United States may help natural gas prices in the coming weeks. Traders should take note that UNG is nearing its 50-day moving average and has started to decouple from the weakness in crude oil futures, as well.

Fidelity NASDAQ Composite Index ETF (NASDAQ: ONEQ)

The NASDAQ Composite is the last major stock index that has yet to break out above all-time highs after peaking in 2000 during the dot-com bubble. However, that moment may be close at hand, as this technology-dominated group of publicly traded companies is within 4 percent of that significant milestone.

ONEQ is the only exchange-traded fund that tracks the NASDAQ Composite Index. This ETF contains more than 1,900 stocks across a multitude of sectors and market cap styles. Apple Inc. (NASDAQ: AAPL) is the largest common equity holding in ONEQ with 10 percent of the total assets.

Posted-In: Long Ideas Broad U.S. Equity ETFs Short Ideas Specialty ETFs Trading Ideas ETFs Best of Benzinga


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