“The positive manufacturing data, better than expected, sends a signal the economy itself, and manufacturing in particular, is showing signs of strength – trumping any concern that people seem to have with the sequester cuts,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management, in the article.
This week’s top three unleveraged ETFs were VelocityShares Long VIX Short Term ETN (NYSEArca: VIIX), ProShares VIX Short-Term Futures ETF (NYSEArca: VIXY) and iPath S&P 500 VIX Short-Term Futures ETN (NYSEArca: VXX) with gains of at least 8%.
Not including volatility products, the bottom three unleveraged ETFs were Market Vectors India Small-Cap ETF (NYSEArca: SCIF), Guggenheim Global Solar Energy (NYSEArca: TAN) and iShares MSCI Italy (NYSEArca: EWI) with setbacks of 5% or more.
In next week’s economic data, look for reports on ISM non-manufacturing, factory orders, the Fed’s Beige Book and international trade. Next week’s main event, however, will be the February employment report, which crosses on Friday.