logo
  Join        Login             Stock Quote
ETF Preview: Tech Funds Getting Boost from Amazon.com Spending, Retail ETFs Finding Little New Traction Though Early Sales Data Positive
By: Midnight Trader   Monday, November 29, 2010 8:54 AM
Symbols: AMZN, IRE
Market Vectors Gold Miners ETF (GDX) is up 0.2% and its companion Market Vectors Gold Minors Junior ETF (GDXJ) is down 0.4%.

Commodities -

United States Oil Fund (USO) is up 0.9%. United State Natural Gas Fund (UNG) is up 0.5%. SPDR Gold Shares (GLD) is up 0.1%. iShares Silver Trust (SLV) is up 0.4%.

ETF Power Play:

SPDR S&P Retail ETF (XRT) is off earlier lows, trading just in negative territory and ranging between 47.60 and 46.38, in light early volume Monday. The fund is already in the upper end of the 52-week range of 34.09 and 47.46 and may have trouble aggressively extending that upside boundary.

Despite lukewarm early market reaction, initial analysis of the shopping season is largely favorable. The National Retail Federation said 212 million shoppers visited stores and websites over the weekend, up from 195 million last year, with the average shopper spending 6.4% more than a year ago.

Other funds expected to be in play in regular trading: Merrill Lynch Retail HOLDRs (RTH); iShares S&P Global Consumer Discretionary Sector Index Fund (RXI); Consumer Discretionary Select Sector SPDR Fund (XLY); Consumer Staples Select Sector SPDR Fund (XLP); iShares Dow Jones U.S. Consumer Goods Sector Index Fund (IYK); Vanguard Consumer Discretionary ETF (VCR); and Vanguard Consumer Staples ETF (VDC).

Amazon.com (AMZN) is up 1.5%, adding to modest pre-market gains and geting a boost as what's become known as Cyber Monday shopping is expected to help the season pick up the pace considerably. Reuters said that online activity is up more than 30% over a year ago and that half of all retailers were shifting Cyber Monday to effectively create a Cyber Sunday.

Internet HOLDRs (HHH) is lightly traded in pre-market trading but is expected to gain in step with AMZN's move.

<< Previous Page12  

Comments Closed


  
Advertisement

Related Press Releases
Popular Articles
Advertisement
Recent Articles by Midnight Trader
Advertisement




Subscribe to Email Alerts rss feed or RSS feeds rss feed for articles from more than 800 contributors and press releases, SEC filings and full text news from thousands of sources.



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.