DOW JONES FUTURE – As Oil Rises, Energy ETFs Rally
DOW JONES FUTURE – As Oil Rises, Energy ETFs Rally
DAILY ETF WRAP-UP by Will Swarts
Published June 12, 2009 – Smart Money
Market Wrap-Up
Stocks ended Friday nearly flat for the week, as a computer glitch halted trading on about 200 names in a sideways session. Commodity prices retreated, knocking back key stocks, as consumer sentiment came in weak. The Dow Jones Industrial Average rose 28 points to close at 8799. For a complete rundown of Friday’s trading session see ourmarket story.
Winners
As crude closed above $72 a barrel this week, the United States Oil fund (USO: 39.43, -0.25, -0.63%) rallied 5.6%. Despite a Friday knock, the SPDR S&P Metals & Miningfund (XME: 41.99, -1.01, -2.34%) rose 5.2% for the week as commodity prices picked up world-wide.
Losers
Worries that semiconductor prices were outpacing demand knocked the chip-heavy iShares MSCI Taiwan fund (EWT:10.15, -0.26, -2.49%) back 2.4% for the week. Despite a strong Friday rally, the Vanguard REIT fund (VNQ: 33.72,+1.18, +3.62%) finished the week down 2.0% on concerns about rising interest rates affecting commercial mortgage financing.
This Week’s Industry News
Earnings Note
Bidding for Barclays (BCS: 19.27, -0.63, -3.16%) appeared to end Friday with New York-based asset managerBlackRock (BLK: 176.56, -6.04, -3.30%) usurping private-equity fund CVC Capital Partners with a $13.5 billion offer for the Barclays Global Investors business. Barclay’s previously signed a $4.4 billion deal for its iShares ETF business with CVC.
Launching Pad
WisdomTree announced plans for a trio of actively managed ETFs pending approval of the Securities and Exchange Commission. The WisdomTree Real Return fund, the WisdomTree Managed Futures fund and the WisdomTree Long-Short fund are designed to use hedge-fund-like investment strategies pinned to underlying instruments. The filing did not contain fee information.
Next Week’s Notebook
Earnings and Conference Calls
Monday
Capstone Turbine Corporation, Casella Waste Systems, La-Z-Boy, Motorcar Parts of America, National Technical Systems, Synergetics USA
Tuesday
Adobe Systems, Best Buy Co., FactSet Research Systems, Smithfield Foods
Wednesday
FedEx, IHS
Thursday
Carnival, J. M. Smucker, Pier 1 Imports, Research In Motion, Wimm-Bill-Dann Foods, Winnebago
Friday
CarMax
Economic Data
Monday
8:30 a.m. June Empire State Fed Manufacturing Survey
9:00 a.m. April Treasury International Capital
1:00 p.m. April NAHB Housing Index
Tuesday
7:45 a.m. ICSC Chain Store Sales
8:30 a.m. May Housing Starts
8:55 a.m. Redbook Retail Sales
8:30 a.m. May Producer Price Index
8:30 a.m. May Producer Price Index, ex-food and energy
9:15 a.m. May Industrial Production
9:15 a.m. May Capacity Utilization
5:00 p.m. ABC/Washington Post Consumer Confidence
Wednesday
8:30 a.m. May Consumer Price Index
8:30 p.m. May Consumer Price Index, ex-food and energy
8:30 a.m. 1Q Current Account
Thursday
8:30 a.m. Initial Jobless Claims
10:00 a.m. June Philadelphia Fed Business Index
10:00 a.m. May Conference Board Leading Indicators
10:00 a.m. DJ-BTMU Business Barometer
Friday, June 19, 2009
No economic events scheduled
A look at how the industry’s most popular ETFs did on Friday:
| Symbol | Net Assets | Price | 52 Week High | 52 Week Low | Volume |
|---|---|---|---|---|---|
| SPY | 60,678 | 95.08 | 136.44 | 68.13 | 182,980,899 |
| EFA | 27,281 | 48.43 | 73.11 | 32.16 | 21,097,925 |
| EEM | 25,768 | 33.74 | 47.68 | 19.12 | 55,787,693 |
| GLD | 31,354 | 92.17 | 97.24 | 70.14 | 13,805,887 |
| IVV | 16,380 | 95.39 | 136.65 | 68.24 | 2,517,888 |
| QQQQ | 13,388 | 36.65 | 48.85 | 25.51 | 109,368,022 |
| IWF | 9,153 | 41.94 | 58.47 | 30.49 | 3,443,897 |
| SHY | 7,391 | 83.27 | 85 | 82.11 | 607,770 |
| VTI | 9,440 | 47.79 | 68.52 | 33.75 | 1,410,829 |
| IWD | 6,740 | 49.18 | 73.73 | 34.22 | 2,088,179 |
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