Equity exchange traded funds (ETFs) rebounded Thursday as Kohl’s led the retail sector to new highs.
ETFs that invest in retail stocks rose Thursday after Kohl’s (NYSE: KSS) reported higher quarterly net income and boosted its full-year outlook. Kohl’s shares added 4% in the wake the department store operator’s quarterly update. Sector ETFs that hold the stock such as Retail HOLDRS (AMEX: RTH) and Consumer Discretionary Select Sector SPDR (NYSEArca: XLY) were significantly higher Thursday. [Retail ETFs Higher After Kohl’s Results]
Traders are using options contracts on ETFs to bet on strength in technology stocks and the U.S. dollar, Street One Financial said Thursday. Tech ETFs were pressured by weakness in Cisco (NasdaqGS: CSCO) as the company’s outlook left Wall Street disappointed. [Option Traders Stalk Tech ETFs as Cisco Weakens]