Exchanged-traded funds tracking the oil and energy sector were among the worst decliners of Tuesday's losing session, as oil futures dropped.
Recently, the front-month September crude contract shed $1.58 to $73.31 a barrel. The
SPDR S&P Oil & Gas Exploration & Production
ETF was lower by $1.40, or 3%, to $45.63. The
iShares Dow Jones U.S. Oil & Gas Exploration Index
was down $1.68, or 2.8%, to $57.67. The
Ultra Oil & Gas ProShares
shed $3.42, or 3.1%, to $108.82. The
United States Oil
ETF was off $1.35, or 2.4%, to $55.03.
Financial-related bundled securities were also performing poorly following
latest earnings report. The financial services giant topped analysts' profit estimates, but it said it had to increase its loan-loss reserve because of a higher rate of delinquencies. The stock was off more than 3%.
First Trust Financials AlphaDEX
ETF was lower by 55 cents, or 2.8%, to $18.90. The
Ultra Financials ProShares
was off by $1.66, or 2.7%, to $60.64. The
PowerShares Dynamic Financials
was down 33 cents, or 1.3%, to $25.82.
ETFs tracking the semiconductor sector were also weaker, due to a weak sales outlook from
, which reported earnings following the previous close. The chip giant's shares were down more than 3%.
Ultra Semiconductor ProShares
was sliding 66 cents, or 0.7%, to $91.24. The
SPDR S&P Semiconductor
was losing 89 cents, or 1.6%, to $54.98. The
PowerShares Dynamic Semiconductors
declined by 18 cents, or 0.9%, to $20.01.
On the other hand, the
B2B Internet HOLDRs
ETF was one of few winners, thanks to a 3% rise in holding
. The ETF was higher by a penny, or 0.6%, to $1.98.
was also gaining ground, thanks to
second-quarter earnings report. The company also raised its 2007 forecast, and the stock was higher by 3.9%. The Biotech HOLDRs was adding $1.97, or 1.2%, to $170.04.