In the major U.S. stock indices, the S&P 500 was on track for a 1.1% weekly decline in afternoon trading Friday, the Dow lost 0.4% and the Nasdaq Composite shed 1.3%.
The top three unleveraged ETFs this week were Market Vectors Junior Gold Miners (NYSEArca: GDXJ), VelocityShares Long VIX Short Term (NYSEArca: VIIX) and ProShares VIX Short-Term Futures (NYSEArca: VIXY) with gains of at least 4%.
The bottom three unleveraged ETFs were Global X FTSE Greece 20 ETF (NYSEArca: GREK), DBX MSCI Japan Currency-Hedged Equity (NYSEArca: DBJP) and Market Vectors India Small-Cap (NYSEArca: JO) with setbacks of 8% or more. [Individual Investors on the Hook for Japan ETF Losses]
Next week’s economic data features reports on Case-Shiller home prices, consumer confidence, pending homes sales, and personal income and spending. U.S. markets will be closed Monday for Memorial Day.
Full disclosure: Tom Lydon’s clients own SPY.