Small-cap exchange traded funds led the way higher in Monday’s dealings as U.S. stock ETFs started the week on strong footing after seven weeks of lackluster action.
However, Wall Street darling Apple (NasdaqGS: AAPL) weighed on the technology sector and traders want to see if the stock can climb back above its 200-day moving average. Apple shares are in unfamiliar territory — they haven’t fallen below this key technical level in over two years. [Apple Hits Nasdaq-100 ETF]
Risker small-cap ETFs were in the forefront of Monday’s rally as iShares Russell 2000 (NYSEArca: IWM) jumped more than 1%.
In sector ETFs, energy was a laggard after Nabor Industries (NYSE: NBR) warned on its second-quarter profit. [Nabor Saps Energy ETFs]
Fear indicators pulled back in Monday’s market despite lingering concerns over the debt crisis in Greece. Investors are also looking ahead to the Federal Reserve meeting this week and Fed chief Ben Bernanke will hold another press conference. [Europe ETFs in Spotlight]
VelocityShares Daily 2X VIX Short-Term ETN (NYSEArca: TVIX) was down 7% in recent action.