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5 ETFs to Watch This Week

NEW YORK ( TheStreet) -- This week's earnings will have a bearing on a number of ETFs. Here are five ETFs to watch.

Market Vectors Gaming ETF (BJK)

Last week, Wynn Resorts (WYNN) reported earnings, providing investors with insight into its performance over the past quarter and outlook for the gaming industry. The numbers were strong, highlighted by double-digit revenue increases at both its Las Vegas- and Macau-based establishments.

The standout performance seemed to be overshadowed, however, by the bold comments by CEO Steve Wynn in the conference call. When discussion turned to the topic of government, Wynn said, "This administration is the greatest wet blanket to business, progress, and job creation in my lifetime."

Wynn's strong earnings have set a high bar for the gaming industry and looking ahead, it will be interesting to see how other firms from this corner of the consumer sector hold up. This week, Las Vegas Sands (LVS) and International Gaming Technology (IGT) will be on tap. Both firms can be found among BJK's top five holdings. Together, they account for over 15% of the fund's assets.

Materials Select Sector SPDR (XLB)

The materials sector will be a big focus this when DuPont (DD), Dow Chemical (DOW), Praxair (PX), International Paper (IP) and Newmont Mining (NEM) report earnings. Already, earnings season has boded well for XLB components such as Alcoa (AA) and Monsanto (MON).

Although XLB struggled during much of the closing weeks of the second quarter, it appears to have found some footing heading into the second half of the year. There are still looming macro issues for this growth-oriented industry. However, it will be interesting to see if strong earnings results can push the fund back to previous 2011 highs.

iShares MSCI Israel Capped Investable Market Index Fund (EIS)

This earnings season will play a major role in directing the performance of the Israel ETF. On Wednesday, both Teva Pharmaceuticals (TEVA) and Nice Systems will step up to the plate. Both companies can be found among EIS' top 10 holdings.

On a number of occasions I have warned investors of the challenges that come with overexposing to top heavy products. EIS is a prime example of such a fund. Although it is designed to provide investors with expansive exposure to the Israeli marketplace, nearly a quarter of its assets are dedicated to TEVA.
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BJK $29.00 3.39%
ITB $22.58 3.29%
EIS $44.01 0.92%
XLB $39.94 2.96%
IXC $26.23 3.11%


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