Bundled securities tracking homebuilders were among the best performers Wednesday. Fears of the effect of the slumping subprime sector lessened after the Mortgage Bankers Association said its seasonally adjusted mortgage application activity index rose 2.8% last week.
Among individual names,
added 3.9%, and both
iShares Dow Jones U.S. Home Construction
ETF was rising 2.4% at $35.66. The
ETF was higher by 1.7% at $33.52.
was also higher. Holding
was higher by 3.8% on an upgrade from JPMorgan. The ETF was adding 32 cents, or 2.1%, to $15.95.
Energy-related ETFs were also trading higher. The front-month April contract rebounded from early weakness following inventory data from the Energy Department. Crude was recently adding 36 cents to $58.29 a barrel. The
Energy Select Sector SPDR
was rising 1.3% to $57.27, and the
Oil Services HOLDRs
was gaining 1.1% to $139.12.
On the flipside, the
SPDR S&P Pharmaceuticals
ETF was among the few losers Wednesday. Holding
slipped 2%, and the ETF was falling 37 cents, or 1.1%, to $33.47.