ETF Trends
09-09-2008, 02:00 PM
ETF Trends - Keeping a Grip on Exchange Traded Funds (ETFs)
http://www.etftrends.com/wp-content/uploads/2008/09/for_sale_sign.jpgWall Street and exchange traded funds (ETFs) took a step back early this morning after a few worrying developments.
The stability of Lehman Brothers (LEH (http://finance.yahoo.com/q?s=leh)) came into question, sending their shares as much as 40% lower. Concerns arose over whether the fourth-largest investment bank on Wall Street would be able to raise capital, report Richard Leong and Jonathan Stempel for Reuters (http://biz.yahoo.com/rb/080909/lehman.html). Some of the decline came from reports that Lehman’s talks with state-owned Korea Development bank about a possible infusion had come to an end, but some say the reports are inaccurate.
Pending home sales in July fell more than expected, by 3.2%. The index tracking such sales is now 6.8% below year-ago levels, reports Alan Zibel for the Associated Press (http://biz.yahoo.com/ap/080909/pending_home_sales.html). Pending home sales mean the seller has accepted an offer, but the deal hasn’t yet closed.
In positive news for consumers, oil dropped below $105 as Hurricane Ike seemed to back off from the Gulf Coast energy installations, reports Adam Schreck for the Associated Press (http://biz.yahoo.com/ap/080909/oil_prices.html). Prices also fell back some as Saudi Arabia suggested that OPEC could decide to keep crude output steady.
Some related ETFs heading south this morning include:
United States Oil (USO (http://finance.yahoo.com/q?s=uso)), up 13.4% year-to-date
United States Gasoline (UGA (http://finance.yahoo.com/q?s=uga)), up 5.8% since Feb. 28 inception
SPDR S&P Homebuilders (XHB (http://finance.yahoo.com/q?s=xhb)), up 12.3% year-to-date
iShares Dow Jones U.S. Homebuilders (ITB (http://finance.yahoo.com/q?s=itb)), up 3.2% year-to-datehttp://www.etftrends.com/wp-content/uploads/2008/09/z27.png
complete story here... (http://feeds.feedburner.com/~r/etftrends-feed/~3/387825561/etfs-tumble-after-pending-home-sales-fall-lehman-questioned.html)
http://www.etftrends.com/wp-content/uploads/2008/09/for_sale_sign.jpgWall Street and exchange traded funds (ETFs) took a step back early this morning after a few worrying developments.
The stability of Lehman Brothers (LEH (http://finance.yahoo.com/q?s=leh)) came into question, sending their shares as much as 40% lower. Concerns arose over whether the fourth-largest investment bank on Wall Street would be able to raise capital, report Richard Leong and Jonathan Stempel for Reuters (http://biz.yahoo.com/rb/080909/lehman.html). Some of the decline came from reports that Lehman’s talks with state-owned Korea Development bank about a possible infusion had come to an end, but some say the reports are inaccurate.
Pending home sales in July fell more than expected, by 3.2%. The index tracking such sales is now 6.8% below year-ago levels, reports Alan Zibel for the Associated Press (http://biz.yahoo.com/ap/080909/pending_home_sales.html). Pending home sales mean the seller has accepted an offer, but the deal hasn’t yet closed.
In positive news for consumers, oil dropped below $105 as Hurricane Ike seemed to back off from the Gulf Coast energy installations, reports Adam Schreck for the Associated Press (http://biz.yahoo.com/ap/080909/oil_prices.html). Prices also fell back some as Saudi Arabia suggested that OPEC could decide to keep crude output steady.
Some related ETFs heading south this morning include:
United States Oil (USO (http://finance.yahoo.com/q?s=uso)), up 13.4% year-to-date
United States Gasoline (UGA (http://finance.yahoo.com/q?s=uga)), up 5.8% since Feb. 28 inception
SPDR S&P Homebuilders (XHB (http://finance.yahoo.com/q?s=xhb)), up 12.3% year-to-date
iShares Dow Jones U.S. Homebuilders (ITB (http://finance.yahoo.com/q?s=itb)), up 3.2% year-to-datehttp://www.etftrends.com/wp-content/uploads/2008/09/z27.png
complete story here... (http://feeds.feedburner.com/~r/etftrends-feed/~3/387825561/etfs-tumble-after-pending-home-sales-fall-lehman-questioned.html)