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.]

Oil ETFs, USO

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Mr. Lydon serves as an independent trustee of certain mutual funds and ETFs that are managed by Guggenheim Investments; however, any opinions or forecasts expressed herein are solely those of Mr. Lydon and not those of Guggenheim Funds, Guggenheim Investments, Guggenheim Specialized Products, LLC or any of their affiliates. 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.