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ETF Action: Financial, Tech ETFs End Higher

NEW YORK ( TheStreet) -- Financial ETFs led the equity ETF category performance on Wednesday amid heightened interest in banking stocks.

State Street's (STT - Get Report)strong earnings forecast helped lift banking stocks, with the KBW Index ending up 5.6%.

The SPDR KBW Capital Markets ETF (KCE) which holds a 7% stake in State Street rose 3.76% to $31.72. Regional Bank HOLDRS (RKH) shot up 5.6% led by smart performance of J.P. Morgan (JPM - Get Report) and Wells Fargo (WFC - Get Report). The most actively traded financial sector ETF, Financial Select Sector SPDR (XLF), rose 4.41%. SPDR KBW Bank (KBE) and iShares Dow Jones Financial Services (IYG) also rose.

Tech stocks also gained in the afternoon session. A prominent gainer among the tech ETFs was iShares S&P North American Tech- Semiconductors (IGW), gaining 5.3% thanks to advances from Intel (INTC), Texas Instruments (TXN) and Applied Materials (AMAT). The stocks gained after the Semiconductor Industry Association said that chip sales rose 48% from a year earlier.

Retail ETFs were up ahead of Thursday's retail sales report. The market is expecting June same- store sales to rise by 3.2%, an increase for the 10th consecutive month. SPDR S&P Retail (XRT) rose 3.15%. Retail HOLDRS (RTH) , Vanguard Consumer Discretionary Fund (VCR) and SPDR S&P Homebuilders ETF (XHB)also rose.

China-focused ETFs were up, even amid concerns of a possible slowdown. The Global X China Consumer ETF (CHIQ) rose 2.28%, as a stronger Yuan is expected to benefit Chinese consumers.

-- Reported by Shanthi Venkataraman in New York.

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KCE $50.28 -0.51%
RTH $76.52 -0.61%
XHB $35.98 -1.20%
JPM $61.90 0.21%
STT $75.48 -0.12%


DOW 18,210.21 -78.42 -0.43%
S&P 500 2,107.37 -10.02 -0.47%
NASDAQ 4,976.6240 -31.4720 -0.63%

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