Stock exchange traded funds were off to a bullish start Tuesday as the Dow rallied 100 points and the euro strengthened versus the dollar before Greek austerity votes. Europe’s debt crisis continued to simmer.
Upbeat earnings and a 7% rally from Nike (NYSE: NKE) lifted consumer discretionary ETFs, and the Nasdaq-100 PowerShares QQQ (NasdaqGM: QQQ) rallied 1% along with top component Apple (NasdaqGS: AAPL). [ETF Spotlight: Consumer Discretionary]
Gold ETFs were slightly higher while futures traded above $1,500 an ounce after reports on U.S. home prices and consumer confidence. [Gold ETFs Steady]
In currencies, a Swiss franc ETF rallied to a fresh record high Tuesday. [Swiss Franc ETF]
In sector ETFs, utilities have held up relatively well in the market pullback, suggesting investors are in a defensive posture. [Utilities ETFs]
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