M&A Activity Leaves ETFs Flat

All News:

• Platinum and Palladium ETFs are Long-Term Bets
• Nasdaq ETF Near 200-Day Average as Apple, Cisco Weigh
• Bank ETFs Hit Again on Economy, Capital Levels

Monday is expected to be a fairly quiet day in the absence of major market-moving economic reports. Exchange traded funds (ETFs) were mostly quiet amid a flurry of mergers and acquisition.

According to the ETF Dashboard, one of the best-performing ETFs this morning was Claymore NYSE Arca Airline (NYSEArca: FAA), which jumped 4% on news that Southwest Airlines (NYSE: LUV) and AirTran (NYSE: AAI) would be joining forces. [Airline ETF Finds Friendly Skies.]

Oil prices are creeping higher this morning, on their way to $77 a barrel. It can’t be described as runaway growth, since it’s being tempered somewhat by future demand for the fuel as economic weakness continues to pervade the United States and Europe. United States Oil (NYSEArca: USO) is down slightly this morning. [Oil and Gas ETFs Feeling the Push-Pull.]