Pandemic-era plays win even as business cycle bets move forward

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Exchange-traded funds linked to working and shopping from home strategies rallied Thursday even as the broader market continued to make more conventional bets on an economic recovery. Broad sector bets showed investors positioning for a traditional early-stage business cycle, as the Financial Select Sector SPDR led the 11 ETFs that track the S&P 500 with a 2.2% gain on Thursday. Even so, the WisdomTree Cloud Computing Fund gained 2.8%, and the First Trust Cloud Computing ETF gained 2.4%, while the Global X Cybersecurity ETF and the Direxion Work From Home ETF were both up over 2%. Meanwhile, the Amplify Online Retail ETF and the ProShares Online Retail ETF were both up more than 1.6%.
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