Equity exchange traded funds pulled back in Monday’s sell-off but Krispy Kreme (NYSE: KKD) shares bucked the downtrend with a 26% rally.
Stock ETFs fell sharply Monday on worries over Europe’s finances while weakness in Exxon Mobil (NYSE: XOM) and Chevron (NYSE: CVX) pushed energy ETFs lower by nearly 2%. ETFs tracking U.S. stocks and the euro fell Monday as worries over the debt problems in Europe’s periphery sapped sentiment. SPDR S&P 500 ETF (NYSEArca: SPY) was down more than 1% while CurrencyShares Euro Trust (NYSEArca: FXE), which follows the movement of the euro versus the dollar, slid nearly 1%. [Energy Sector Leads Stock ETFs Lower]
Exchange traded funds that invest in food-sector stocks were on Monday’s news buffet after quarterly results from Krispy Kreme and Campbell Soup (NYSE: CPB). [Food ETFs on Menu]
A popular Nasdaq ETF fell harder than the overall market in Monday’s sell-off but the ETF’s top holding, Apple (NasdaqGS: AAPL), held up relatively well amid pressure in the tech sector. PowerShares QQQ (NasdaqGM: QQQ) ended down approx 1.4% but Apple shares fell less than 1%. The Nasdaq-100 ETF has corrected to channel support, said Tarquin Coe, technical analyst at Investors Intelligence, in a note Monday. [Apple Holds Up Better Than Nasdaq ETF in Tech Crunch]
Tom Lydon appeared on Yahoo Finance’s Breakout on Monday morning to discuss an exchange traded fund (ETF) designed to capture the market for initial public offerings following the recent blockbuster IPO of LinkedIn (NYSE: LNKD). The First Trust US IPO Index (NYSEArca: FPX) holds 100 IPOs. [Tom Lydon Discusses IPO ETF, LinkedIn on Breakout]