U.S. stock exchange traded funds (ETFs) were set to follow futures higher at Wednesday’s open while J.P. Morgan shares rose after the Dow component reported a first-quarter jump in profit.
SPDR S&P 500 ETF (NYSEArca: SPY) was up 0.5% in premarket trading. The ETF lost nearly 1% in Tuesday’s sell-off in stock and commodity markets. The portfolio is up 4.5% year to date.
Investors will be looking for reports Wednesday on retail sales, business inventories, and also the Fed’s Beige Book.
ETFs tracking the financial sector could see action this week following J.P. Morgan’s results, while Bank of America reports Friday.
In the metals, ETFs investing in gold and silver were higher in Wednesday’s premarket. Some traders have been using options on a silver ETF to bet on a pullback in prices.
Copper ETFs were also in focus Wednesday after Goldman Sachs reportedly closed out a trade it had on the red metal.
SPDR S&P 500
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.