Basic Industries, Chemicals Lead ETFs
Old Economy rotation Monday lifted the
tradable funds focused on commodity industries while evidence of a slowing
economy favored financial and cyclical funds. Most of the tradable funds
headed lower.
The Dow Jones Basic Materials iShares
(
IYM |
Quote |
Chart |
News |
PowerRating) jumped 10.1%, the day’s sharpest gain among the
funds. The Dow Jones Chemicals ishares
(
IYD |
Quote |
Chart |
News |
PowerRating) rose 8.5%, the Basic
Industries SPDR
(
XLB |
Quote |
Chart |
News |
PowerRating) 7.9%.
Rate-sensitive ETFs also moved ahead.
The Financial SPDR
(
XLF |
Quote |
Chart |
News |
PowerRating) rose 3.6%, the Dow Jones Financial iShares
(
IYF |
Quote |
Chart |
News |
PowerRating)
3.6%, the Dow Jones Financial Services iShares
(
IYG |
Quote |
Chart |
News |
PowerRating) 3.6%. The Utilities
SPDR
(
XLU |
Quote |
Chart |
News |
PowerRating) added 3.8%, the Dow Jones Utilities iShares
(
IDU |
Quote |
Chart |
News |
PowerRating) 2.8%.
The Dow Jones
Telecommunications iShares
(
IYZ |
Quote |
Chart |
News |
PowerRating) and the Telecom HOLDR
(
TTH |
Quote |
Chart |
News |
PowerRating) both rose
3.0%. The two ETFs got a lift from Verizon Communications
(
VZ |
Quote |
Chart |
News |
PowerRating), which climbed
4.4% after meeting Wall Street expectations for the third quarter. Verizon
reported strong demand for wireless and DSL services.
On the downside, the Internet
Infrastructure HOLDR
(
IIH |
Quote |
Chart |
News |
PowerRating) fell 7.9%, the B2B Internet HOLDR
(
BHH |
Quote |
Chart |
News |
PowerRating) 6.1%,
the Broadband HOLDR
(
BDH |
Quote |
Chart |
News |
PowerRating) 5.7%, the Dow Jones Internet iShares
(
IYV |
Quote |
Chart |
News |
PowerRating)
5.7%, the Internet HOLDR
(
HHH |
Quote |
Chart |
News |
PowerRating) 4.1%, the Nasdaq 100 Tracking Stock 3.4%.
