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ETF Preview: Transportation Funds Get Boost From BNI Deal - Banking Funds Drop On European News
By: Midnight Trader   Tuesday, November 03, 2009 8:57 AM

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Active-volume exchange-traded funds in Monday's regular session:

SPDR S&P 500 (SPY): +0.7%

iShares S&P 500 (IVV): +0.6%

PowerShares QQQ (QQQQ): +0.4%

Select Financial Sector SPDRS (XLF): +0.9%

iShares Russell 2000 (IWM): -0.2%

iShares Russell 1000 Growth (IWF): +0.7%

iShares MSCI Emerging Markets Index (EEM): +1.5%

United States Oil Fund (USO): +1.7%

The top ETF volume movers in pre-market action this morning:

SPY, -0.5%

QQQQ, -0.5%

SDS, +1%

GLD, +0.2%

FAZ, +2.9%

Winners and Losers

Major market ETFs, including the SPY, DIA, UYG and others, are lower in reaction to sharp downside futures trading. European banking declines are weighing on financial markets. An Australian interest-rate hike is seen as a sign of more tightening to come around the globe, the timing of which will be crucial in keeping the recovery on track.

The PowerShares QQQ (QQQQ), which tracks the technology-studded Nasdaq Composite, is down 0.4%.

Major banking and brokerage shares are lower, with C down 2% and BAC down 1.4% to lead the volume ranks. Select Financial Sector SPDRS (XLF) is down 1.2%. The Direxion Financial Bull 3X fund (FAS) is down 2.7%; its bearish counterpart, FAZ, is down 2.6% and among morning actives.

There's no shortage of financial sector news this morning. Lloyds Banking Group (LYG) says it will raise $34 billion to avoid a British government asset protection plan, MarketWatch reported. Royal Bank of Scotland (RBS) will stay in the plan on altered terms. Both will sell off assets. UBS (UBS), meanwhile, swings to a loss of over $500 million in Q3 on a variety of charges, with wealthy clients still taking assets out of the Swiss bank, MarketWatch reported.

Technology Select Sector SPDR (XLK) is flat.


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The above story is the opinion of the author only and it does not reflect iStockAnalyst opinion. Further, the author is not personally advising you regarding the suitability of the story for your investment needs. In no event iStockAnalyst will be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from or arising out of, or in connection with the use of this information. Please consult your investment advisor before making any investment decision.
  
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