ETF Trends
04-07-2008, 01:30 PM
ETF Trends - Keeping a Grip on Exchange Traded Funds (ETFs)
http://www.etftrends.com/images/2008/04/07/optimism.jpg (http://etftrends.typepad.com/photos/uncategorized/2008/04/07/optimism.jpg) Corporate wheeling and dealing is boosting stocks and exchange traded funds (ETFs) today, particularly in the financial sector.
Washington Mutual Inc. (WM (http://finance.yahoo.com/q?s=WM)) could get a $5 billion investment from private equity firms, reports Tim Paradis for the Associated Press (http://biz.yahoo.com/ap/080407/wall_street.html). The company has lost big in the subprime mortgage mess, and it's talking with a buyout shop and other investors about selling a stake in itself in exchange for cash.
Washington Mutual isn't a major holding in the financial ETFs we track, but the deal talks are being seen as a positive sign that investors are optimistic about recovery.
A strategist cautions that volatility isn't exactly over - it's earnings season, and investor anxiety could mount if the banks reveal bigger losses than expected.
Regional Bank HOLDRs (RKH (http://finance.yahoo.com/q?s=rkh)), up 2% midday
Financial Select Sector SPDR (XLF (http://finance.yahoo.com/q?s=xlf)), up 1.7% midday
iShares Dow Jones US Financial Services (IYG (http://finance.yahoo.com/q?s=iyg)), up 2.3% middayhttp://www.etftrends.com/images/2008/04/07/z.png (http://etftrends.typepad.com/photos/uncategorized/2008/04/07/z.png)
complete story here... (http://feeds.feedburner.com/~r/etftrends-feed/~3/265810310/wamu-a-bullish.html)
http://www.etftrends.com/images/2008/04/07/optimism.jpg (http://etftrends.typepad.com/photos/uncategorized/2008/04/07/optimism.jpg) Corporate wheeling and dealing is boosting stocks and exchange traded funds (ETFs) today, particularly in the financial sector.
Washington Mutual Inc. (WM (http://finance.yahoo.com/q?s=WM)) could get a $5 billion investment from private equity firms, reports Tim Paradis for the Associated Press (http://biz.yahoo.com/ap/080407/wall_street.html). The company has lost big in the subprime mortgage mess, and it's talking with a buyout shop and other investors about selling a stake in itself in exchange for cash.
Washington Mutual isn't a major holding in the financial ETFs we track, but the deal talks are being seen as a positive sign that investors are optimistic about recovery.
A strategist cautions that volatility isn't exactly over - it's earnings season, and investor anxiety could mount if the banks reveal bigger losses than expected.
Regional Bank HOLDRs (RKH (http://finance.yahoo.com/q?s=rkh)), up 2% midday
Financial Select Sector SPDR (XLF (http://finance.yahoo.com/q?s=xlf)), up 1.7% midday
iShares Dow Jones US Financial Services (IYG (http://finance.yahoo.com/q?s=iyg)), up 2.3% middayhttp://www.etftrends.com/images/2008/04/07/z.png (http://etftrends.typepad.com/photos/uncategorized/2008/04/07/z.png)
complete story here... (http://feeds.feedburner.com/~r/etftrends-feed/~3/265810310/wamu-a-bullish.html)