Stock markets are continuing their bull run as encouraging economic data continues to restore confidence back in the domestic recovery. Upbeat commentary from the Fed coupled with better-than-expected retail sales earlier in the week played a key role in helping to sustain positive momentum on Wall Street. While stocks have been heating up, developments on the product development front have cooled off a bit, as the only new filing this week was for a global equity fund from Van Eck [see also How To Hedge For A Market Correction With ETFs].
- Van Eck Global Chemicals ETF: This ETF will seek to replicate the price and yield performance of the Market Vectors Global Chemicals Index. The underlying portfolio will consist of foreign and domestic companies involved in the chemicals industry. The component companies must generate at least 50% of their revenues from chemicals, which includes the research, development, or manufacture of chemicals or the marketing of products or services related to the industry [see Commodity Guru ETFdb Portfolio]. As of February 2012, the underlying index included 158 securities with an average market cap of $7.8 billion.