was the biggest loser of exchange-traded funds Wednesday after its largest holding,
(YHOO - Get Report)
, posted mixed second-quarter results and warned that its planned search-engine upgrade would be pushed out into the fourth quarter. Shares of the Internet giant were recently trading down $6.51, or 20%, to $25.73. The Internet ETF, meanwhile, was trading down $3.32, or 7%, to $46.22.
ETFs tracking financial services companies got a boost from better-than-expected earnings at
(JPM - Get Report)
Bank of America
(BAC - Get Report)
Bank of New York
Financial Select Sector SPDR
gained 78 cents, or 2.5%, to $32.53; the
streetTRACKS KBW Capital Markets
fund rose $2.31, or 4%, to $55.59; and the
iShares Dow Jones U.S. Financial Services
ETF jumped $3.52, or 3%, to $119.14.
iShares Nasdaq Biotechnology Index
rose 3% as the fund's major holdings headed higher. The ETF's biggest holding,
(AMGN - Get Report)
, rose 77 cents to $64.95.
jumped $2.06 to $35.
, meanwhile, added $1.38 to $46.55. The biotech ETF recently was trading up $2.35 to $70.29.
Dow Jones Industrial Average
was off to the races Wednesday after
Chairman Ben Bernanke told Congress that economic growth and inflation are both moderating. The Dow recently was adding 225 points to about 11,024. Shares of the
ETF, which tracks the average, recently gained $2.01, or 2%, to $110.20.
After tumbling on Tuesday, shares of the
iShares Silver Trust
reversed course on Wednesday as the price of silver moved significantly higher. The metal was recently trading up 63 cents to $11.15 an ounce. The silver ETF, meanwhile, was higher by $5.20, or 5%, to $111.15.
Shares of the
U.S. Oil Fund
slipped 2% as the price of August crude drifted $1.14 lower to $72.40 a barrel. Shares of the Oil ETF were recently down $1.26 to $69.49.