U.S. stock exchange traded funds (ETFs) were set to open higher Friday as silver prices topped $40 an ounce and crude futures neared $112 a barrel on continued supply concerns over Libya.
The SPDR S&P 500 ETF (NYSEArca: SPY) was up 0.4% in premarket trade, just under $134 a share.
“The S&P 500 ETF (SPY) is yet to break out to a new high and that event may occur over the next few days,” the ETF Review newsletter from Investors Intelligence said Friday.
SPDR S&P 500 ETF
Metals ETFs were set to finish the week strong as gold climbed to a new record high while silver rose above $40 an ounce before Friday’s opening bell.
U.S. Oil Fund (NYSEArca: USO) was poised for a higher open in the U.S. on Friday as crude futures trading on the New York Mercantile Exchange rose above $111 a barrel.
Traders will keep a close eye on iShares MSCI Japan Index Fund (NYSEArca: EWJ) in U.S. trading Friday after the government said the economy is in “severe condition” after the massive earthquake and tsunami.
Airline ETFs have been under pressure recently as energy prices continue to shoot up and a major player grounds some flights.