Metals, Papers Lift Industrial ETFs
Old Economy stocks got the upper hand
Monday, lifting their exchange-traded funds while the tech-focused ETFs, despite
intraday loss-paring, continued to wither.
The Basic Industries SPDR
(
XLB |
Quote |
Chart |
News |
PowerRating)
gained 5.5% on heavy volume, registering the day’s sharpest gain among the
exchange-traded funds. The Dow Jones Basic Materials iShares
(
IYM |
Quote |
Chart |
News |
PowerRating) rose
5.0%. Both tradable funds benefited from rallies in chemicals, metals, and
papers.
The top field of all charts in this
commentary uses a logarithmic price scale and displays a 50-day price average in
red. In cases where the displayed security has traded long enough, the top field
also will exhibit a 200-day moving price average in black. In the second field,
a blue relative strength line represents the displayed security’s price
performance relative to the S&P 500. The third field displays vertical daily
volume bars in black with a 50-day moving average in blue for volume.
Among their components, DuPont
(
DD |
Quote |
Chart |
News |
PowerRating)
jumped 7.2%, Alcoa
(
AA |
Quote |
Chart |
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PowerRating) 6.9%, Rohm and Haas
(
ROH |
Quote |
Chart |
News |
PowerRating) 4.5%, International
Paper
(
IP |
Quote |
Chart |
News |
PowerRating) 2.9%, Barrick Gold
(
ABX |
Quote |
Chart |
News |
PowerRating) 2.5%.
The Cyclicals-Transportation SPDR
(
XLY |
Quote |
Chart |
News |
PowerRating)
added 3.6%, the Industrial SPDR
(
XLI |
Quote |
Chart |
News |
PowerRating) 2.7%, the Dow Jones Chemical iShares
(
IYD |
Quote |
Chart |
News |
PowerRating)
2.3%, the Diamonds
(
DIA |
Quote |
Chart |
News |
PowerRating) 2.1%.
The Pharmaceutical HOLDR
(
PPH |
Quote |
Chart |
News |
PowerRating)
rebounded 2.3%, possibly aided by the Supreme Court and Florida court decisions that
favored the Bush presidential campaign. The Dow Jones Healthcare iShares
(
IYH |
Quote |
Chart |
News |
PowerRating)
rose 1.4%.
On the downside, the Dow Jones
Internet iShares
(
IYV |
Quote |
Chart |
News |
PowerRating) lost 4.0%, the day’s sharpest loss among the
U.S.-focused ETFs. The Internet Infrastructure HOLDR
(
IIH |
Quote |
Chart |
News |
PowerRating) dropped 3.7%,
Biotech HOLDR
(
BBH |
Quote |
Chart |
News |
PowerRating) 2.9%, the Internet HOLDR
(
HHH |
Quote |
Chart |
News |
PowerRating) 2.1%.
