ETFdb Weekly Watchlist: VGK, EWJ and SPY Hinge on Eurozone Data, Policy Change and U.S. GDP Report

by on April 22, 2013 | ETFs Mentioned:

It was a tug-of-war between the bulls and the bears on Wall Street last week, as investors digested the slew of mixed economic and earnings reports. Gold dominated the headlines earlier in the week after the precious metal tumbled over 9% last Monday to mark its biggest one-day percentage drop in 30 years. Meanwhile, disappointing reports from China weighed heavily on the markets – economic growth in the first quarter came in at 7.7%, as compared to the expected 8% increase. On the home front, jobless benefits rose for the fourth time in five weeks. This week, investors will once again see many earnings and economic reports. Below, we outline three ETFs that should see a fair amount of activity during the week ahead [see also 7 Simple & Cheap ETF Model Portfolio]:

1. FTSE Europe ETF (VGK, A)

Why VGK Will Be In Focus: This ETF offers broad based exposure to the developed economies of Europe, spreading holdings across more than a dozen markets. Its place in the spotlight will come on Tuesday when Germany and France release their Flash Manufacturing PMI indexes. Analysts are expecting French manufacturing PMI to come in slightly higher, while Germany’s figure is expected to remain the same [see also 17 ETFs For Day Traders].

2. MSCI Japan Index Fund (EWJ, A)Japan

Why EWJ Will Be In Focus: This fund is designed to measure the performance of the Japanese equity market, and it is home to over $9.7 billion in total assets. It will be important to keep a close eye on EWJ on Friday as the Bank of Japan releases its monetary policy statement and its outlook report. Governor Kuroda Holds will also be holding a press conference after the meeting.

3. SPDR S&P 500 (SPY, A)

Why SPY Will Be In Focus: This prolific S&P 500 ETF, home to over $129 billion in assets, will come into focus on Friday as advanced first quarter U.S. gross domestic product is reported. Analysts have somewhat high expectations, with forecasts coming in at 3.1% as compared to the previous recording of 0.4%  [see also How To Pick The Right ETF Every Time].

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Disclosure: No positions at time of writing.