Housing- and real estate-related exchange-traded funds were surging during Wednesday's winning session, one day after the
said that the correction in housing is ongoing but that the economy is likely to expand at a moderate pace.
Individual names were jumping.
soared 19%, and
were all higher by 5% or more.
iShares Dow Jones U.S. Home Construction
was rising $2.07, or 7.8%, to $28.63. The
Ultra Real Estate ProShares
climbed $2.42, or 5.7%, to $45.22. The
SPDR S&P Homebuilders
was adding $1.54, or 5.9%, to $27.87.
Bundled securities tracking Asian markets were also jumping after several indices gained ground overnight. Hong Kong's Hang Sang rose 2.9%, the Nikkei Index added 0.6% and Tokyo's Topix Index gained 0.5%.
iShares FTSE/Xinhua China 25 Index
was gaining $5.87, or 4.5%, to $136.14. The
iShares MSCI Singapore Index
was higher by 59 cents, or 4.6%, to $13.50. The
SPDR S&P China
was recently up $3.08, or 4.5%, at $71.56.
ETFs tracking regional banks were notching another strong session. Among individual names,
Valley National Bancorp
PNC Financial Services
were all gaining 3% or more.
KBW Regional Banking
ETF was higher by $1.75, or 4.1%, to $44.50. The
iShares Dow Jones U.S. Regional Banks
added $1.04, or 2.3%, to $47.25.
On the other hand, bundled securities following U.S. Treasuries were among the few losers of the day, as traders made their way out of bonds and back into equities.
The 10-year note was down 18/32 in price, yielding 4.84%, and the 30-year bond was tumbling 1 1/32, yielding 5.00%.
iShares Lehman 20+ Year Treasury Bond
was down 91 cents, or 1%, to $86.31. The
iShares Lehman 7-10 Year Treasury Bond
fell by 50 cents, or 0.6%, to $81.80. The
SPDR Lehman Long Term Treasury
was lower 27 cents, or 0.5%, to $50.48.