Real estate exchange-traded funds were the best performers of a holiday-shortened week, after Blackstone Group (BX Quote) bid $26 billion for Hilton Hotels (HLT Quote).
Shares of Hilton soared 36.5% over the four sessions. Speculation as to which would be the next takeover target powered other hotel stocks. Starwood Hotels (HOT Quote) rose 11%, Marriott (MAR Quote) added 9%, and Host Hotels & Resorts (HST Quote) gained 8.9%. The Ultra Real Estate ProShares (URE Quote) rose 7.1% during the week to $53.59. The Vanguard REIT Index ETF (VNQ Quote) was higher by 3.4% to $73.39. The DJ Wilshire REIT (RWR Quote) ETF added 3.3% to $83.85. Bundled securities tracking the energy complex were also among the winners, as the front-month August crude contract jumped 3% at $72.81 a barrel, its highest close in roughly 10 months. The Ultra Oil & Gas ProShares (DIG Quote) gained 6.6% to $103.19. The PowerShares Dynamic Energy Exploration (PXE Quote) ETF climbed 3.3% to $23.76, and the SPDR S&P Oil & Gas Exploration & Production (XOP Quote) ETF rose 2.4% to $46.98. Meanwhile, shares of Apple (AAPL Quote) jumped 8.4% over the four sessions to an all-time high, lifting the Internet Architecture HOLDRs (IAH Quote). Apple's new iPhone, released a week ago, should deliver profit margins of 55% on the $600 eight-gigabyte version, according to iSuppli. The ETF rose 3.6% to $49.14. On the losing side, the United States Natural Gas (UNG Quote) ETF slumped due to a larger-than-expected build in natural gas inventories. On Friday, the Energy Department said that natural gas supplies rose by 78 billion cubic feet last week, sending natural gas lower by 3% to $6.44, the lowest level in more than two years. The United States Natural Gas ETF lost 6% to close the week at $41.57. Treasury-related ETFs were also lower, as bond prices fell following a stronger-than-expected June employment report. Before the opening bell, the Labor Department said that the U.S. economy added 132,000 jobs last month. Since last Friday, the 10-year Treasury note yield added 17 basis points to 5.20%, while the 30-year bond rose 15 basis points to 5.27%. The iShares Lehman 20+ Year Treasury Bond (TLT Quote) ETF fell 1.7% to $83.41. The iShares Lehman TIPS Bond (TIP Quote) ETF dipped 0.7% to $97.81.- Loading Comments...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,344.84 | 1,095.63 | 2,144.60 | 32.01 |
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