Stock ETFs Rise with Talbots, Temple-Inland in Focus
June 7th 2011 at 1:03pm by Tom Lydon
Stock ETFs traded higher on Tuesday and were poised to end a four-day losing streak as Temple-Inland (NYSE: TIN) rallied 40% following a takeover bid while Talbots (NYSE: TLB) plunged by a similar percentage after disappointing quarterly earnings.
Exchange traded funds that invest in timber and forestry stocks rose Tuesday in the wake of International Paper’s (NYSE: IP) unsolicited bid for Temple-Inland. [Timber ETFs Climb]
A retail sector ETF rose Tuesday despite the sell-off in shares of holdings Talbots and Pep Boys (NYSE: PBY). [Retail ETF Weakens]
Exchange traded funds tracking U.S. stocks and the dollar have tended to move in opposite directions during the credit flameout and stimulus-fueled recovery, with many equity rallies coming at the greenback’s expense. However, some analysts have pointed out that the dollar and stocks have both moved lower in recent weeks. This could be a troubling trend, because a similar pattern developed before the market tanked in 2008. [Stock, Dollar ETFs Fall Together]
A Nasdaq-100 ETF was poised to reverse at least some of the previous session’s losses on Tuesday along with top component Apple (NasdaqGS: AAPL) as analysts continued to react to new products unveiled at the company’s annual developers conference. [Nasdaq ETF Tries to Recoup Losses]
Silver exchange traded funds rose Tuesday but have lagged gold ETFs lately on weak manufacturing and employment numbers. [Metals ETFs Driven by Eurozone Debt, Economic Data]
SPDR S&P 500 ETF (NYSEArca: SPY)
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.