Buoyed by mergers and acquisitions and some favorable news from a venerable blue chip, U.S. stocks rallied this week with the S&P 500 and the Dow Jones Industrial Average each climbing more than 2%. The Nasdaq Composite led the way with a gain of about 2.7%.
On Friday, General Electric jolted the Dow by announcing plans to leave the lending business, sending the stock to a double-digit gain. On Wednesday, Royal Dutch Shell (NYSE: RDS-A), Europe’s largest oil company, said it is acquiring rival BG Group for $70.2 billion in the oil industry’s largest acquisition in a decade.
That same day, generic drugmaker Mylan (NYSE: MYL) offered to acquire Israeli rival Perrigo (NYSE: PRGO) for $205 per share, or $28.86 billion. Those events and more affected an array of exchange traded funds this week. With that, here are some of the week’s biggest ETF stories.
Broad Market/Sector ETFs
This healthcare services ETF is, well, healthy. [A Soaring Healthcare Services ETF]
Checking in on consumer staples ETFs.
This energy ETF could be bottoming. [A Big E&P ETF is Ready to Rally]
More mergers and acquisitions activity boosts pharmaceuticals ETFs.