Oil- and gas-related exchange-traded funds were among the top performers of Monday's market, as crude futures rebounded from Friday's selloff.
The front-month crude contract was trading up 72 cents to $65.48 Monday afternoon, after Iran's oil minister said OPEC had no plans to increase supply to the market before September. Crude futures plummeted more than $2 a barrel Friday, after a cyclone in the Persian Gulf largely spared the region's oil infrastructure of major damage.
The SPDR S&P Oil & Gas Equipment & Services (XES) was adding 86 cents, or 2.4%, to $36.12. The Ultra Oil & Gas ProShares (DIG) was rising $2.48, or 2.6%, to $96.28. The iShares Dow Jones U.S. Oil Equipment Index (IEZ) was gaining $1.06, or 1.9%, to $55.96. The Oil Service HOLDRs (OIH) was tacking on $2.95, or 1.7%, to $170.38.
ETFs tracking metals also were ascending, following rising gold, silver and copper futures. The July gold contract was up $7.50 an ounce to $655. The July silver contract was gaining 24 cents to $13.28 and copper was adding 9 cents to $3.35.The PowerShares DB Base Metals (DBB) was adding 55 cents, or 2.1%, to $26.67. The iShares Silver Trust (SLV) was gaining $1.55, or 1.1%, to $131.85. The PowerShares DB Precious Metals (DBP) was rising 29 cents, or 1.1%, to $25.88. Utility-related funds also were climbing along with the larger market, despite bond yields again edging up. Normally rate-sensitive utility stocks like Exelon (EXC) and Centerpoint Energy (CNP) were both rising more than 1.6%. Ultra Utilities ProShares (UPW) was gaining $2.62, or 3.3%, to $82.69. The Utilities Select Sector SPDR (XLU) was gaining 65 cents, or 1.7%, to $39.93. Bundled securities tracking real estate were among the poorest performers of the day. Luxury homebuilder WCI Communities (WCI) was losing about 3% after Carl Ichan asked fellow investors to boycott a shareholder meeting Friday, as he continues to pursue a majority stake in the company. Other major builders like Hovnanian (HOV) also were losing ground. Ultra Real Estate ProShares (URE) was losing 90 cents, or 1.6%, to $56.15. SPDR S&P Homebuilders (XHB) was off 44 cents, or 1.3%, to $33.42.