Friday's ETF Winners & Losers
Exchange-traded funds tracking Asian markets were the best performers of Friday's session following an overnight rally.
Hong Kong's Hang Seng surged 3.2%, and markets in Thailand, Indonesia and Singapore finished higher as well.
The
iShares FTSE/Xinhau China 25 Index
(FXI) - Get Report
was rising $6.90, or 3.8%, to $188.10. The
iShares MSCI Hong Kong Index
(EWH) - Get Report
added 75 cents, or 3.6%, to $21.49. The
SPDR S&P China
(GXC) - Get Report
was up $3.21, or 3.4%, to $97.36. The
PowerShares Golden Dragon Halter USX China
(PGJ) - Get Report
was gaining $1.07, or 3.2%, to $34.23.
The
Wireless HOLDRs
(WMH)
was also among the top performers of the day, thanks to
Research In Motion's
(RIMM)
earnings report after Thursday's close. The BlackBerry maker posted fiscal second-quarter results that were in line with Wall Street's estimates. The ETF was up $2.01, or 2.7%, to $77.69.
ETFs tracking the basic materials sector were also trading higher thanks to a rally in
Alcoa
(AA) - Get Report
. After Thursday's close, Alcoa said it would incur a charge of $845 million in the third quarter due to restructuring costs. The company expects to sell its packaging and consumer businesses by next year. The stock was recently up 3.1%.
The
Ultra Basic Materials ProShares
(UYM) - Get Report
was climbing $2.84, or 3%, to $99.03. The
iShares Dow Jones U.S. Basic Materials
(IYM) - Get Report
gained $1.06, or 1.4%, to $75. The
PowerShares FTSE RAFI Basic Materials
(PRFM)
was up 99 cents, or 1.5%, to $68.30.
On the other hand, Treasury-related ETFs were among few losers of the day, following a stronger-than-expected jobs report. The Labor Department's report said that the U.S. economy added 110,000 workers last month. Economists had expected 100,000 jobs to be added last month. August's number was revised higher and now shows a gain of 89,000 jobs. Last month, the Labor Department said 4,000 jobs were lost.
Recently, the 10-year note was dropping 31/32 in price, cutting the yield to 4.64%. The 30-year bond was adding 1 28/32 in price, yielding 4.88%.
The
iShares Lehman 20+ Year Treasury Bond
(TLT) - Get Report
slid $1.37, or 1.5%, to $87.87. The
Vanguard Long-Term Bond
(BLV) - Get Report
was down 79 cents, or 1.1%, to $74.47. The
iShares Lehman 10-20 Year Treasury Bond
(TLH) - Get Report
was losing $1.06, or 1.1%, to $100.34.