ETF Trends
09-02-2008, 02:20 PM
ETF Trends - Keeping a Grip on Exchange Traded Funds (ETFs)
http://www.etftrends.com/wp-content/uploads/2008/09/hurricane.jpg (http://www.onlinetradersforum.com/None)Hurricane Gustav spared oil facilities in the Gulf Coast this weekend, easing investor concerns, sending oil prices lower and exchange traded funds (ETFs) higher.*
Crude oil fell to $108.77 a barrel in mid-day trading today, reports Tim Pardis of the Associated Press (http://biz.yahoo.com/ap/080902/wall_street.html).**ETFs leveraging oil have been top performers in trading today.* Transportation has been reacting positively to the falling price as well.**Energy-related ETFs*have dropped along with the price of oil.*
Worries in the financial sector were also eased as news that Korea Development Bank is in talks about acquiring Lehman Brothers (LEH (http://finance.yahoo.com/q?s=leh)).
A report on supply management showed manufacturing activity was down slightly in August, but this was expected, and that inflation slowed.
ETFs reacting to the news today, and their mid-day performance:
PowerShares DB Crude Oil Double Short ETN (DTO (http://finance.yahoo.com/q?s=dto)), up 11.6%
iShares Dow Jones Transportation (IYT (http://finance.yahoo.com/q?s=iyt)), up 1.0%
iShares Dow Jones U.S. Energy (IYE (http://finance.yahoo.com/q?s=iye)), down 4.7%
Financial Select Sector SPDR (XLF (http://finance.yahoo.com/q?s=xlf)), up 1.2%For full disclosure, some of Tom Lydon’s clients own IYT.
complete story here... (http://feeds.feedburner.com/~r/etftrends-feed/~3/381526532/gustav-gives-relief-to-oil-and-etfs.html)
http://www.etftrends.com/wp-content/uploads/2008/09/hurricane.jpg (http://www.onlinetradersforum.com/None)Hurricane Gustav spared oil facilities in the Gulf Coast this weekend, easing investor concerns, sending oil prices lower and exchange traded funds (ETFs) higher.*
Crude oil fell to $108.77 a barrel in mid-day trading today, reports Tim Pardis of the Associated Press (http://biz.yahoo.com/ap/080902/wall_street.html).**ETFs leveraging oil have been top performers in trading today.* Transportation has been reacting positively to the falling price as well.**Energy-related ETFs*have dropped along with the price of oil.*
Worries in the financial sector were also eased as news that Korea Development Bank is in talks about acquiring Lehman Brothers (LEH (http://finance.yahoo.com/q?s=leh)).
A report on supply management showed manufacturing activity was down slightly in August, but this was expected, and that inflation slowed.
ETFs reacting to the news today, and their mid-day performance:
PowerShares DB Crude Oil Double Short ETN (DTO (http://finance.yahoo.com/q?s=dto)), up 11.6%
iShares Dow Jones Transportation (IYT (http://finance.yahoo.com/q?s=iyt)), up 1.0%
iShares Dow Jones U.S. Energy (IYE (http://finance.yahoo.com/q?s=iye)), down 4.7%
Financial Select Sector SPDR (XLF (http://finance.yahoo.com/q?s=xlf)), up 1.2%For full disclosure, some of Tom Lydon’s clients own IYT.
complete story here... (http://feeds.feedburner.com/~r/etftrends-feed/~3/381526532/gustav-gives-relief-to-oil-and-etfs.html)