Stock exchange traded funds hitched to the major indicators were lower Thursday after disappointing GDP data and an increase in weekly jobless claims. However, rallies in Tiffany (NYSE: TIF) and Guess (NYSE: GES) after quarterly earnings boosted retail sector ETFs.
Retail ETFs were higher Thursday as they caught a tailwind from gains in Tiffany and Guess shares after strong quarterly results. Tiffany shares rallied 6% on Thursday while Guess jumped 12%. [Guess, Tiffany Results Boost Retail ETFs]
A tech-heavy Nasdaq ETF saw action Thursday as a noted hedge-fund manager called for Microsoft’s (NasdaqGS: MSFT) chief executive to step down. Also, the Nasdaq-100 ETF is struggling with a key level that goes back to the dot-com wreck. [Nasdaq ETF Moves on Microsoft, Technicals]
Food exchange traded funds were flat Thursday along with HJ Heinz (NYSE: HNZ) shares as the company reported quarterly results and met with analysts and investors. [Food ETFs Stuck]
Silver ETFs were down about 2% on Thursday morning after rising the previous three days. The iShares Silver Trust (NYSEArca: SLV) slid 2% in premarket trade. The silver ETF ended Wednesday down 19.4% over the past month and with a 22.3% year-to-date gain, according to Morningstar. “Silver still looks expensive and we would caution that the market remains most vulnerable to swings in risk sentiment,” Credit Suisse said, according to a report from FastMarkets.com. [Silver ETFs Slip 2%]
See our preview of the GDP revision. [Stock ETFs Look to GDP Report]
Gregory A. Clay contributed to this article.
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