Exchange-traded funds tracking the Internet sector were surging Wednesday on the back of
Following Thursday's close, Amazon easily beat analysts' expectations for the second quarter. After several firms upgraded its stock early Wednesday, Amazon was soaring by 24%.
was adding $3.31, or 5.6%, to $62.22. The
First Trust Dow Jones Internet Index
was recently up 61 cents, or 2.4%, to $25.99. The
Internet Infrastructure HOLDRs
tacked on 7 cents, or 1.3%, to $5.57.
Insurance-related ETFs were also trading higher after both
The Chubb Corporation
posted better-than-expected second-quarter earnings. Both Chubb and Aflac shares were jumping by more than 6%.
ETF was rising 81 cents, or 1.4%, to $57.12. The
iShares Dow Jones U.S. Insurance
ETF was adding 68 cents, or 1.3%, to $53.88. The
PowerShares Dynamic Insurance
ETF was gaining 16 cents, or 0.9%, to $18.03.
Elsewhere, biotech ETFs were celebrating a 16% jump in shares of
, which narrowed its second-quarter loss compared to a year ago and came in ahead of Wall Street's expectations.
First Trust Amex Biotechnology Index
was climbing 40 cents, or 1.7%, to $24.47. The
SPDR S&P Biotech
was higher by 54 cents, or 1.1%, to $52.04.
iShares Dow Jones U.S. Aerospace & Defense
ETF was also gaining ground after holding
beat estimates with its quarterly earnings report. General Dynamics was recently up almost 3%, and the ETF was adding 64 cents, or 1%, to $65.97.
Basic materials-related bundled securities were among the biggest losers of the session. Among individual stocks,
slumped 2% or more.
Ultra Basic Materials ProShares
ETF dropped $2.78, or 3%, to $91.48. The
Materials Select Sector SPDR
was losing 94 cents, or 2.2%, to $40.96. The
iShares Dow Jones U.S. Basic Materials
ETF was down $1.47, or 2%, to $71.02. The
ETF was shedding $1.62, or 1.9%, to $85.41.