This Week's ETF Winners & Losers
Exchange-traded funds tracking tech shares were among the biggest winners for the week as several big names delivered solid first-quarter numbers.
The Internet HOLDRs (HHH) ETF gained 4.5% for the week, and the Internet Architecture HOLDRs (IAH) surged 6.7%. The Semiconductor HOLDRs (SMH) rose 2.9%, and the iShares S&P GSTI Semiconductor (IGW) climbed 3.9%.
The upward momentum came as search giant Google (GOOG) helped spark a massive rally Friday and chipmaker Intel (INTC) did the same a couple of days earlier, both thanks to better-than-expected earnings. Google jumped 17.9% for the week as Intel tacked on 6.2%.
IBM (IBM), meanwhile, helped the Dow hold its own on Thursday as the computer maker topped expectations with a leaping quarterly profit. For the week, the stock was up 7.2%.Also gaining ground this week were ETFs tracking financial stocks. The week saw mixed results, but some big names, most notably, Citigroup (C) and JPMorgan Chase (JPM), allayed investors' fears with first-quarter results that weren't thoroughly dismal. Citi missed the average Wall Street estimate but its first-quarter writedowns weren't nearly as bad as some were predicting, and JPMorgan's sliding profit came in above the consensus. Shares added 7.5% and 7.6%, respectively, over the past five sessions. At the same time, the Financial Select Sector SPDR (XLF), Ultra Financials ProShares (UYG), iShares Dow Jones U.S. Financial Sector (IYF) ETF and iShares S&P Global Financials (IXG) all advanced between 4.7% and 10.6%. Also, in a week that saw crude oil hitting record intraday highs every day, the Oil Services HOLDRs (OIH) jumped 10.9%, the Ultra Oil & Gas ProShares (DIG) rocketed 16.1%, the United States Oil (USO) climbed 5.9%, and the Energy Select Sector SPDR (XLE) ramped up 8%. On the flip side, bundled securities tracking gold slipped as gold futures sank for the week. The PowerShares DB Gold (DGL), the iShares COMEX Gold Trust (IAU) and the streetTRACKS Gold Shares (GLD) funds were all down 0.7% or more. Finally, ETFs tracking Treasury securities faltered as investors shifted their money out of the safe haven of government bonds, having regained at least some of their confidence in equities. The iShares Lehman 20+ Year Treasury Bond (TLT) fund was off 3.3% for the week, the iShares Lehman 10-20 Year Treasury Bond (TLH) surrendered 2.4%, and the iShares Lehman 7-10 Year Treasury (IEF) was down 1.7%.
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