Several interest rate-sensitive exchange-traded funds were rallying Wednesday, one day after the
cut rates by a surprising 50 basis points.
Among bundled securities tracking real estate, the
First Trust S&P REIT
ETF jumped $1.10, or 6.2%, to $18.88. The
Ultra Real Estate ProShares
was up $2.10, or 4.5%, to $49.30. The
iShares Dow Jones U.S. Real Estate
rose $1.86, or 2.4%, to $78.11.
Bundled securities tracking basic materials were also among the best performers, thanks to gains by
Ultra Basic Materials ProShares
was up $4.22, or 4.6%, to $95.21. The
ETF rose $1.89, or 2.2%, to $87.19. The
PowerShares FTSE RAFI Basic Materials
ETF was adding $1.48, or 2.3%, to $67.37. The
Materials Select Sector SPDR
was higher by 78 cents, or 1.9%, to $42.08.
Financial ETFs, which slumped due to liquidity problems and tightening credit markets, rallied thanks to the interest rate cut. Embattled finance concerns, including
, were on the rise Wednesday.
Ultra Financials ProShares
gained $1.21, or 2.1%, to $60.21. The
Financial Select Sector SPDR
was up 44 cents, or 1.3%, to $35.37. The
ETF was advancing by 59 cents, or 1 %, to $62.71. The
iShares Dow Jones U.S. Financial Sector
was adding $1.14, or 1%, to $112.80.
Home construction-related ETFs were also gaining ground.
were all jumping by 3.5% or more.
iShares Dow Jones U.S. Home Construction
was up 69 cents, or 2.8%, to $24.62. The
SPDR S&P Homebuilders
was climbing 53 cents, or 2.1%, to $25.38.
Once again, the
United States Natural Gas
was the worst decliner of the session as natural gas futures fell 31 cents to $6.26 per million British thermal units. The ETF was lower by $1.26, or 3.2%, to $38.68.