Earnings Move Tech Funds
The tradable tech
funds led their peers Monday as strong earnings reports
drove their component stocks.
The Semiconductor
HOLDR
(
SMH |
Quote |
Chart |
News |
PowerRating), which began trading May 5 on the American
Stock Exchange, gained 1.6% and is forming the right side of
a short base.
src=”https://tradingmarkets.com/media/images/fundmovers/flow071700-01.gif”
width=”470″ height=”320″>
The basket of
semiconductor stocks got a boost from Novellus Systems
(
NVLS |
Quote |
Chart |
News |
PowerRating),
which rose 4 3/16 to 68 7/16, ahead of Street-beating Q2
results. For more on base-building chip-gear makers, check
out my
The News column.
The Internet
Architecture HOLDR
(
IAH |
Quote |
Chart |
News |
PowerRating) climbed 1.4%. The Broadband
HOLDR
(
BDH |
Quote |
Chart |
News |
PowerRating) added 2.9%, the largest gain among the
exchange-traded funds.
src=”https://tradingmarkets.com/media/images/fundmovers/flow071700-02.gif”
width=”470″ height=”320″>
src=”https://tradingmarkets.com/media/images/fundmovers/flow071700-03.gif”
width=”470″ height=”320″>
The improving
market breadth is showing up in the MidCap SPDR
(
MDY |
Quote |
Chart |
News |
PowerRating).
src=”https://tradingmarkets.com/media/images/fundmovers/flow071700-04.gif”
width=”470″ height=”320″>
The Pharmaceutical
HOLDR
(
PPH |
Quote |
Chart |
News |
PowerRating) picked up 2.8%, snapping back from a
three-session losing streak.
src=”https://tradingmarkets.com/media/images/fundmovers/flow071700-05.gif”
width=”470″ height=”320″>
The Nasdaq 100
Tracking Stock
(
QQQ |
Quote |
Chart |
News |
PowerRating) advanced 1.2%, following through on
Friday’s short-range breakout.
src=”https://tradingmarkets.com/media/images/fundmovers/flow071700-06.gif”
width=”470″ height=”320″>