Updated from 12:15 p.m. EDT with new stock prices
Energy-related exchange-traded funds were the best performers of Tuesday's session as oil prices surged close to $88 a barrel for the first time ever.
Crude was recently up $1.48 to $87.61, having earlier set an intraday record of $87.97 amid conflict between Turkey and Kurdish rebels in northern Iraq.
United States Oil
ETF was gaining $1.09, or 1.65%, to $66.98. The
iPath S&P GSCI Crude Oil Index
was up 62 cents, or 1.27%, to $49.45. The
Ultra Oil & Gas ProShares
added 32 cents, or 0.27%, to $120.10.
B2B Internet HOLDRs
ETF was also advancing after the Federal Trade Commission waived the antitrust waiting period for
acquisition of ETF holding
. CheckFree shareholders will now need to approve the deal when it votes on Oct. 23.
The B2B Internet HOLDRs ETF was recently up 1 cent, or 0.43%, to $2.36.
On the other hand, several earnings disappointments in the financial sector combined to sink related ETFs.
said that third-quarter earnings missed targets. The company also guided the fourth quarter below consensus.
also fell short.
Ultra Financials ProShares
slumped $2.02, or 3.45%, to $56.60. The
iShares S&P Global Financials
was off $1.94, or 2.11%, to $89.99. The
iShares Dow Jones U.S. Financial Services
was down $2.44, or 1.97%, to $121.38.
Homebuilders were also among the worst decliners of the day. Following the previous session,
Chairman Ben Bernanke addressed the New York Economic Club about the recent credit crisis and its impact on consumers and the housing sector, noting that "the further contraction in housing is likely to be a significant drag on growth in the current quarter and through early next year."
iShares Dow Jones U.S. Home Construction
slid 81 cents, or 3.89%, to $19.99. The
SPDR S&P Homebuilders
was losing 52 cents, or 2.36%, to $21.50.