iShares MSCI Brazil ( EWZ)

Petrobras ( PBR), which accounts for 21% of EWZ's assets, reports earnings Friday.

EWZ suffered a correction of more than 20% from early January through early February as it was doubly hit by Chinese monetary tightening. The global selloff knocked emerging markets and the resource producers tumbled. Since then these companies and country ETFs have staged a nice rebound, with EWZ more than 10% off its recent lows.

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