Internet Infrastructure HOLDRs
exchange-traded fund was Friday's biggest winner, jumping 9% as tech stocks rebounded from the previous session's selloff thanks to M&A news.
Among its holdings,
surged 33% after software giant
made an unsolicited bid for the company.
The Internet Infrastructure HOLDRs was recently up 48 cents to $5.76. Among other related ETFs benefiting from the BEA news, the
First Trust Dow Jones Internet Index
added 58 cents, or 2.1%, to $27.71. The
iShares S&P GSTI Software
ETF was up $1.07, or 2.1%, to $53.
A sharp decline in
on Thursday sank Asia indices overnight, but the stock was up 1.2% during the current session and supported advances in related ETFs.
iShares FTSE/Xinhua China 25 Index
ETF was rising $6.10, or 3.2%, to $198.60. The
PowerShares Golden Dragon Halter USX China
ETF was gaining $1.02, or 3%, to $35.34. The
SPDR S&P China
ETF was up $2.83, or 2.8%, to $102.48.
On the other hand, housing-related ETFs sank after Wachovia lowered 2007 and 2008 earnings estimates for 13 homebuilders. Among those cut were
iShares Dow Jones U.S. Home Construction
ETF was down 67 cents, or 3%, to $21.65. The
SPDR S&P Homebuilders
ETF was losing 45 cents, or 1.9%, to $22.85.
Bundled securities tracking the retail sector were also lower despite a strong government report on retail sales during September. The Commerce Department said that retail sales rose 0.6% last month, tripling expectations. Excluding autos, retail sales increased 0.4%, also topping expectations.
SPDR S&P Retail
ETF was shedding 38 cents, or 0.9%, to $40.19. Among its holdings,
were lower by 1.7% or more.