ETFdb Weekly Watchlist: EWA, EWU, SPY Hinge On Australian Data, Bank of England, And U.S. GDP

by on November 4, 2013 | ETFs Mentioned:

U.S. equities were in for several up and down sessions last week, as investors weighed the slew of earnings and economic reports. On the earnings front, Exxon Mobil (XOM) posted better-than-expected Q3 profit and revenue, despite an 18% decline in profits. Meanwhile, ConocoPhillips (COP), Apple (AAPL), and Facebook (FB) also beat analysts’ revenue and earnings estimates. In economic news, the Institute for Supply Management’s U.S. manufacturing purchasing managers index rose to 56.4 from the previously recorded 56.2, the highest level since April 2011. China’s manufacturing Purchasing Managers’ Index rose to 51.4 in October from 51.1 the month before, marking an 18-month high. 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 The Best (And Worst) Performing ETFs For Every Quarter].

1. MSCI Ausstralia ETF (EWA, B+)

Why EWA Will Be In Focus: This  fund offers exposure to the Australian equity market, and it is home to over $2.0 billion in total assets. EWA will come into focus on Tuesday as the Reserve Bank of Australia announces its cash rate, which is expected to remain unchanged at 2.50%, and holds its rate statement. Australian retail sales and trade balance will also be reported. Retail sales are expected to increase from 0.4% to 0.5%. The country’s trade balance is expected to come in at -0.51B versus the previously recorded -0.82B figure [see Single Country ETFs: Everything Investors Need To Know].

2. MSCI United Kingdom ETF (EWU, A-)Bank of England

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. SPDR S&P 500 (SPY, A)

Why SPY Will Be In Focus: This prolific S&P 500 ETF, home to over $158 billion in assets, will come into focus on Thursday as advanced second quarter U.S. gross domestic product is reported. Analysts have somewhat low expectations, with forecasts coming in at 1.9% as compared to the previous recording of 2.5% [see also How To Pick The Right ETF Every Time].

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Disclosure: No positions at time of writing.