ETF Outlook for Tuesday May 6, 2014
iShares MSCI Europe Financials ETF (NYSE: EUFN)
The European financials should be on the move today after several earnings reports in the sector as well as bullish economic news in the region.
The Markit PMI rose to 54.0 in April, in line with expectations, but up from 53.1 in March. The gauge, according to Markit, points to GDP growth of 0.5 percent in the second quarter, which would be the strongest in three years.
Barclays (NYSE: BCS) reported earnings overnight and the stock is down 3 percent in pre-market trading. On the flipside, UBS (NYSE: UBS), another European financial is trading higher this morning and could be set to break to a new monthly high.
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