Three ETFs To Watch This Week: FXI, NORW, USO

by on May 7, 2012 | ETFs Mentioned:

Last week saw a strong opening soured by economic data as the five-day trading string came to a close. Though unemployment dipped to 8.1%, hiring slowed more than expected in April, ultimately sending markets lower on the final day of the week. Earnings season is essentially over, so investors will have to focus on data on the home front and around the world. The coming week will be relatively quiet in comparison to weeks past, but that does not mean that traders will not have plenty of events and funds to focus on. Below, we outline three funds that are poised to have a big week as recent trends and global data put them in the limelight [see also 5 Market Experts You Need To Follow On Twitter].

FTSE China 25 Index Fund (FXI)

Why FXI Will Be In Focus: This ETF measures the Chinese stock market with a large cap spin, making it one of the more popular emerging market funds. FXI has over $6 billion in assets and an average daily volume topping 19 million and is easily the most popular fund dedicated to China. Its place in the spotlight will come towards the latter half of the week as China is set to release some important economic data. Friday will see both CPI results as well as new yuan loans, two reports that will have a big impact on this fund, especially given the fact that so many investors put heavy weight into China’s massive consumer segment [see also When Bigger Isn’t Better: Profiling ETF Alternatives To DJP, FXI, GLD].

FTSE Norway 30 ETF (NORW)

Why NORW Will Be In Focus: NORW is one of a select few ETFs to grant exposure to the Norwegian economy, but this fund has had some trouble getting going. The ETF currently has $53 million in assets despite its healthy daily volume of 38,000. This week will see earnings from Statoil ASA, one of the biggest oil producers in the world as well as the top holding of NORW. Thus far, NORW has held up well in 2012, but its outlook will rely heavily on the results of this major energy firm. If Statoil misses, look for NORW to take a big hit, but a positive report could send this ETF through the roof.

United States Oil Fund (USO)

Why USO Will Be In Focus: Crude oil has been in focus a lost as of late, as sour economic data has weighed on its prices. Friday saw the fossil fuel dip below $100 for the first time in recent memory. After several big trading days last week, crude futures will be a major point of contention with investors. This ETF tracks front-month WTI crude contracts and is one of the most popular commodity ETFs available. USO has lost over 4% in the last week and some traders may find its low price as a nice entry point [see also How To Profit From Rising Gasoline Prices].

Follow me on Twitter @Jared Cummans

Disclosure: No positions at time of writing.