Market Rise Pushes Most ETFs to the Upside (Daily ETF Wrap-Up)

Published Sept. 22, 2009 at 4:00 a.m.

Market Wrap-Up

Stocks retained gains Tuesday afternoon ahead of the Federal Reserve's latest statement on interest rates, leaving most exchange-traded funds in positive territory.

Although rates are unlikely to change when the Fed hands down its statement Wednesday, investors are keenly tuned to signals about future rate directions relative to the threat of inflation.

The Dow Jones Industrial Average closed up 51 points at 9830. The Nasdaq climbed 8 to 2147, and the S&P 500 picked up 7 at 1072.

Commodities and gold rebounded as the dollar lost ground against other major currencies. The euro hit a fresh 2009 high, topping $1.48 for the first time this year.

Gold traded at about $1,018 an ounce, pushing metals and mining names, and oil moved back above $70 a barrel. For a detailed rundown on Tuesday’s trading session see our market story. 

Winners

The SPDR S&P Metals & Mining fund (XME) rose 3.4% on jumps in gold and copper prices. The iShares Dow Jones US Real Estate Index fund (IYF) climbed 3.2% after major holding Annaly Capital Management (NLY) announced a quarterly dividend of 69 cents a share.

Losers

The iPath Exchange Traded Notes S&P 500 VIX Short-Term Futures Index (VXX) shed 2.2% as stocks wavered in midmorning trading. The Health Care Select Sector SPDR Fund (XLV) shed 0.4%, one of the few unleveraged exchange-traded funds to drop, largely on news of a drug price rollback that will affect Medicaid reimbursements.

Tuesday’s Industry Headlines

Launching Pad
The Thomson Reuters/Jefferies CRB Global Commodity Equity Index fund (CRBQ) began trading Monday on the New York Stock Exchange. The fund, sponsored by APLS, tracks a diversified global index holding 145 companies that produce energy, agricultural, raw metals and precious metals. The fund charges an annual expense ratio of 0.65%.

Wednesday’s Notebook

Earnings and Conference Calls
AutoZone, Bed Bath & Beyond, Comtech Telecommunications, General Mills, Paychex, Red Hat

Economic Data
7:00 a.m. MBA Purchase Applications
10:30 a.m. EIA Petroleum Status Report
2:15 p.m. FOMC Meeting Announcement

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