ETFdb Weekly Watchlist: SPY, EWU, XLI Hinge On U.S. GDP, Bank of England, And ISM Manufacturing

by on July 29, 2013 | ETFs Mentioned:

Wall Street was in for several lackluster trading sessions last week, as a mixed bag of earnings and economic reports kept equities trading in a narrow range. Travelers (TRV), Apple (AAPL) and Facebook (FB) beat both earnings and revenue estimates, but fast-food giant McDonald’s (MCD), Hasbro (HAS)  and Haliburton (HAL) missed analyst expectations. On the economic front, existing-home sales fell 1.2% in June, while new home sales rose 8.3%. In separate reports, the Federal Reserve Bank of Richmond reported that manufacturing activity in the central Atlantic region contracted in July, falling to -11, while durable-goods orders for June rose 4.2%. This week, investors will once again see a slew of earnings and economic reports. Below, we outline three ETFs that should see a fair amount of activity during the week ahead [see 25 Wild ETF Charts From 1H 2013]:

1. SPDR S&P 500 ETF (SPY, A)

Why SPY Will Be In Focus: This prolific S&P 500 ETF, home to over $151 billion in assets, will come into focus on Wednesday as advanced second quarter U.S. gross domestic product is reported. Analysts have somewhat low expectations, with forecasts coming in at 1.1% as compared to the previous recording of 1.8% [see Single Country ETFs: Everything Investors Need To Know].

2. MSCI United Kingdom ETF (EWU, A)ISM

Why EWU Will Be In Focus: This ETF tracks an index that is comprised of roughly 100 securities, and it is designed to measure the overall performance of the British equity market. Investors should keep a close eye on EWU on Thursday as the Bank of England announces its rate decision and its asset purchase target. Both the rate and target are expected to remain unchanged at 0.50% and 375 billion, respectively.

3. Industrial Select Sector SPDR ETF (XLI, A)

Why XLI Will Be In Focus: This fund is one of the most popular on the market, with over $5.6 billion in assets and an average daily volume just over 11 million. XLI seeks to replicate the performance of the U.S. industrial sector and will be in focus this week as ISM manufacturing data for the month of Julyl hits the street on Thursday. Analysts are expecting ISM manufacturing PMI to rise from 50.9 in June to 52.1 [see also How To Pick The Right ETF Every Time].

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Disclosure: No positions at time of writing.