NEW YORK ( TheStreet) -- Here are five ETFs to watch this week.
PowerShares QQQ (QQQ)News that Steve Jobs was stepping down from his CEO post at Apple (AAPL - Get Report) sent shockwaves across the media realm last week. Interestingly, however, the initial impact Jobs' exit has had on Apple's stock price has been largely negligible; on Thursday, immediately following the news, shares of AAPL closed down less than 1%.
Today begins Apple's first full week in the post-Jobs era. Looking ahead it will be interesting to see how newly-appointed CEO, Tim Cook handles the captain chair. This is not the first time Cook has been placed in charge, however. On the contrary, as I pointed out late last week,
ETF investors looking to follow the developments taking place at Apple should have their sights set on QQQ. The tech giant is listed as the fund's number one holding, accounting for nearly 15% of its total assets.
SPDR Gold Shares (GLD)After months of climbing higher on the back of persistent market uncertainty, the physically-backed gold ETF, GLD took a breather. Prior to the sell-off, however, the fund marked a landmark achievement. At the start of the week, the fund managed to surpass SDPR S&P 500 ETF (SPY) for a short time to become the
The past week's selloff may be unsettling to some. However, as I've explained on a number of occasions, gold ETFs like
GLD and iShares Gold Trust
(IAU) should not be viewed as short-term trades. Rather, these funds are best