Stock Quote        
  Join        Login  
logo

ETF Preview: Financials Drop; Alcoa Downgrade Looks To Nick Materials Funds

 October 04, 2011 08:55 AM
 

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


SPDR S&P 500 (SPY): -2.9%

iShares S&P 500 (IVV): -3%

PowerShares QQQ (QQQ): -2.6%

iShares Russell 2000 (IWM): -5%

iShares Russell 1000 Growth (IWF): -2.9%

iShares MSCI Emerging Markets Index (EEM): -2%

United States Oil Fund (USO): -2.5%

SPDR Gold Shares (GLD): +1.8%

Select Financial Sector SPDRS (XLF): -3.5%

Pre-Market Most Active:

SPY, -1.7%

FAS, -5.1%

SDS, +3.3%

IWM, -1%

TNA, -3%

Winners and Losers

Broad-market exchange-traded funds, including SPY, IWM, IVV and others, are lower. Actively traded ETF PowerShares QQQ (QQQ) is down 1.6%.

Stock futures have extended losses throughout pre-market trading and are now indicating an opening-bell start near 1% in negative territory. Markets await Greek developments. A Capitol Hill appearance by the Fed's Bernanke and U.S. factory orders data are due mid-morning.

Financials -

Bank of America (BAC) is down 2.35% to a new 52-week low of $5.40 a share this morning, hit by pressure including a new $5 per month charge for debit card users, website problems, and sector-related selling due to worries over European banks' exposure to Greece.

Also plumbing new depths are JP Morgan (JPM) and Citigroup (C), following news that a federal housing insurance program may be forced to deny bank claims for money lost in home loan foreclosures. According to a report by Reuters, additional mortgage-related losses to banks could total $13.5 billion.

JP Morgan is down 2.13% to a new 52-week low of $28.04, while Citigroup is down 2.38% to a new 52-week low of $22.56 a share. Also affected by the news is Wells Fargo (WFC) which has shed 1.86% at $22.75 a share.

Select Financial Sector SPDRs (XLF) is flat.


Next Page >>123

Are you beating the market? We are!!!
Every trading day, be ready to attack the market instead of reacting to the market.

Subscribe to our premium newsletter - i On The Market


Two Week FREE Trial


Signup for i on the market daily edition


Advertisement

Comments Closed





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.