A 2% rally in Alcoa (NYSE: AA) shares on takeover speculation lessened the pain Tuesday in a roughly $10 billion exchange traded fund (ETF) indexed to the Dow Jones Industrial Average.
Dow component Alcoa jumped 2% and bullish options activity rose on talk Rio Tinto Group may make a bid for the aluminum giant.
SPDR Dow Jones Industrial Average ETF (NYSEArca: DIA) was down 0.3% in the last hour of trading Tuesday but fell less than the Nasdaq and S&P 500.
Trading volume in Alcoa shares was above average Tuesday as the stock was among the most active on the NYSE.
SPDR Dow Jones Industrial Average ETF
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