New Econ Funds Lead
The tradable tech funds
rallied on Thursday to lead their Old Economy peers, but the trading action in ETFs remained
largely range-bound.
The B2B Internet HOLDR
(
BHH |
Quote |
Chart |
News |
PowerRating) rose
3.6%, the day’s biggest gain among the exchange-traded
funds. Among its components, Ariba
(
ARBA |
Quote |
Chart |
News |
PowerRating) gained 5 9/16 to 161
7/8, Vitria Technology
(
VITR |
Quote |
Chart |
News |
PowerRating) 3 to 45 1/2, i2 Technologies
(
ITWO |
Quote |
Chart |
News |
PowerRating) 9
13/16 to 169 13/16.
The Semiconductor HOLDR
(
SMH |
Quote |
Chart |
News |
PowerRating)
bounced 3.3%, reversing a three-day slide. For a chart analysis of National
Semiconductor
(
SMH |
Quote |
Chart |
News |
PowerRating), check out my Trading
The News commentary.
Among the other advancers, the Biotech
HOLDR
(
BBH |
Quote |
Chart |
News |
PowerRating) added 3.0%, the Internet Infrastructure HOLDR
(
IIH |
Quote |
Chart |
News |
PowerRating) 2.8%,
the Internet Architecture HOLDR
(
IAH |
Quote |
Chart |
News |
PowerRating) 2.7%, the Nasdaq 100 Tracking Stock
(
QQQ |
Quote |
Chart |
News |
PowerRating)
2.5%, the Dow Jones Technology iShares
(
IYW |
Quote |
Chart |
News |
PowerRating) 2.3%. The battered
Pharmaceutical HOLDR
(
PPH |
Quote |
Chart |
News |
PowerRating) bounced 1.9%.
On the downside, the Basic Industries
SPDR
(
XLB |
Quote |
Chart |
News |
PowerRating) dropped 4.8%. The tradable fund was pressured by its largest
component, chemical products giant Du Pont
(
DD |
Quote |
Chart |
News |
PowerRating) sank 4 7/8 to 42 1/8.
Investors reacted to a warning from Du
Pont that this year’s earnings would fall short of earnings expectations because
of higher-than-forecast increases in energy costs and a steepening decline in
the euro.
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