Exchange traded funds (ETFs) that invest in the Internet and retail sectors could see action Wednesday following quarterly results from Amazon (NasdaqGS: AMZN).

Wall Street is looking for profit of 61 cents a share from Amazon, which reports after Tuesday’s close. Investors will be focused on Amazon’s expense management during the quarter, said McAdams Wright Ragen in an earnings outlook.

“Clearly, the assumption, embedded in both the consensus estimate and management’s guidance, is that margins will be pressured as the company invests in initiatives aimed at driving future revenues,” the analysts wrote.

Amazon shares were down 2% heading into Tuesday’s closing bell. It is a top component of Retail HOLDRS (AMEX: RTH) and First Trust Dow Jones Internet Index (NYSEArca: FDN).

The opinions and forecasts expressed herein are solely those of John Spence, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.