ETFs Gain on Solid Housing and Other Data (Daily ETF Wrap-Up)

Posted by Eric LeRiche | July 4, 2009 .

Market Wrap-Up

Stocks posted moderate gains Wednesday as investors took comfort in improved home sales data and slowing contraction in manufacturing activity. Investors pushed the Dow Jones Industrial Average up more than 100 points in early trading, as the Institute for Supply Manufacturing reported its index of manufacturing activity was in line with economists’ estimates. Private sector layoffs hit an eight-month low of 473,000 for June, according to a report from ADP. The Dow closed 57 points higher at 8504. For a complete rundown of Wednesday’s trading session, see our market story.

Winners

The iShares MSCI South Korea Index fund (EWY) rose 3.2% after the release of better-than-expected trade data. Gold prices jumped above 1 an ounce Wednesday, pushing Market Vectors Gold Miners fund (GDX) up 4.2%.

Losers

Among unleveraged funds, the United States Gasoline fund (UGF) slid 2.4% Wednesday as gas futures dropped four cents a gallon. Declining natural gas prices again put the United States Natural Gas fund (UNG) among the decliners, dropping 1.5%.

Wednesday’s Industry Headlines

Launching Pad

The Javelin Dow Jones Islamic Market International Index Fund (JVS) began trading Wednesday as the first exchange-traded fund using an investing style tied to the tenets of Islam. It tracks an index of 100 companies, and its portfolio now includes 23 companies representing 18 different currencies. The fund, which charges 0.6% a year, will not invest in companies involved in alcohol, gaming, weapons production, pork products and certain types of entertainment such as casinos, gambling and pornography, which are forbidden by the Koran, Islam’s holy text.

Thursday’s Notebook

Earnings and Conference Calls

Acuity Brands, Methode Electronics, MSC Industrial Direct

Economic Data

8:30 a.m. June 27 Weekly Jobless Claims
8:30 a.m. June Non-Farm Payrolls
8:30 a.m. June Unemployment Rate
10:00 a.m. June 20 DJ-BTMU Economic Barometer
10:00 a.m. May Factory Orders
10:30 a.m. June 19 EIA Natural Gas Inventories
4:30 p.m. June 22 Money Supply

Quick Take

A look at how the industry’s most popular ETFs did on Wednesday.

10 Largest ETFs
Symbol	Net Assets	Price	52 Week High	52 Week Low	Volume
SPY	63,692	92.33	130.7	68.13	171,593,988
EFA	30,201	46.57	69.06	32.16	20,142,702
EEM	30,793	32.82	45.21	19.12	83,421,505
GLD	NA	92.39	97.24	70.14	10,741,016
IVV	17,692	92.63	130.92	68.24	7,699,709
QQQQ	13,357	36.4	48.32	25.51	85,775,378
IWF	9,442	41.28	55.45	30.49	3,143,974
SHY	7,059	83.68	85	82.52	1,202,186
VTI	10,157	46.54	65.56	33.75	2,159,452
IWD	7,122	47.74	70.64	34.22	2,560,618

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