U.S. equities had somewhat of a relief rally today, following last week’s broad sell-off. Boosting equities were several better-than-expected earnings reports from the energy, materials, and technology sectors. Haliburton (HAL) shares were among the top gainers today after the oil field services company reported earnings that came in well above expectations. Caterpillar (CAT) earnings missed the mark, though the stock gained after the company’s CEO was less pessimistic than expected. Meanwhile, the National Association of Realtors reported that sales of previously owned homes logged in a surprise decline [see Free Member Report: How To Pick The Right ETF Every Time].
Global Market Overview: Daily ETF Roundup: OIH Jumps On Strong Earnings, TAN Soars After Acquisition Deal
Despite today’s weak housing report, all three major U.S. equity indexes managed to close in positive territory. The Dow Jones Industrial Average ETF (DIA, A-) tacked on 0.12%, as its underlying index squeezed out a small 19.66 point gain. The S&P 500 ETF (SPY, A) rose 0.44%, while the tech-heavy Nasdaq ETF (QQQ, B+) jumped 1.03%.
In Europe, markets were mixed after the Italian parliament’s vote to give Giorgio Napolitano another term as president lessened fears of political instability; the Stoxx Europe 600 inched 0.2% higher. Meanwhile, Asian markets were mixed; Japan’s Nikkei Stock Average rallied 1.9% as the dollar weakened against the yen and the Group of 20 signaled approval of Japan’s massive stimulus measures, while China’s Shanghai Composite Index slipped 0.1%.
Bond ETF Roundup
U.S. Treasury prices were higher today after a weak housing report, and the Chicago Fed’s national activity index showing U.S. growth below trend. Yields on 5-year notes fell 1.5 basis points, while yields on 30-year bonds and 10-year notes slid 1 basis point [see also Seven Simple & Cheap ETF Model Portfolios].
Crude oil futures settled higher for the third straight session, despite growing investor concerns about the outlook for demand. Natural gas futures, however, slipped more than 3%. Meanwhile, gold futures settled at $1,421 as investors swooped in to take advantage of lower prices.
ETF Chart Of The Day #1: (OIH)
The Market Vectors Oil Services ETF (OIH, B+) was one of the best performers today, gaining 1.85% during the session. After Haliburton (HAL) reported earnings that came in well above expectations, this ETF gapped significantly higher at the open. OIH pushed higher throughout the day, eventually settling at $40.74 a share [see Energy Bull ETFdb Portfolio].
ETF Chart Of The Day #1: (TAN)
The Solar ETF (TAN, B) also posted a strong performance today, gaining a whopping 5.07% during the session. After news of Power One Inc (PWER) agreeing to be acquired by Zurich-based ABB Ltd hit the streets, this ETF gapped significantly higher at the open. TAN inched higher throughout the day, eventually settling at $18.04 a share [see Commodity Guru ETFdb Portfolio.
ETF Fun Fact Of The Day
The best-performing regional strategy over the trailing 3-year period has been the Ex-Europe ETFdb Portfolio, which has gained 23.70%.
Disclosure: No positions at time of writing.