Markets had another uneventful session as weakness in the early
part of the day led to a flat Tuesday of trading. The Dow finished
ahead by about three points, the S&P 500 declined less than a
point, and the Nasdaq was the biggest loser, falling by about 0.2%
on the session.
From a sector perspective, health care, services and financials
were broadly higher, while some weakness was seen in the mining
segments as well as big tech. In terms of biggest winners and
losers, investors saw a nearly 3.6% gain for Home Depot (HD) while
Juniper Networks (JNPR) led the way on the downside, falling by
Currency markets were a tad more interesting in Tuesday trading
as the dollar rose marginally against many of the world's top
currencies. However, these markets did see some intense volatility
although many pairs did finish the day right where they started,
even as American and German government debt both saw yields rise
about seven basis points on the session (read
Are Foreign Financial ETFs Back on Track?
Commodities also continued to see some volatility, as many
agricultural commodities fell on the day led by a 2.3% loss for
rice and a 2% slump in wheat. Energy and metals were more mixed,
although we did see another solid day for natural gas as the
commodity added nearly 4% on the day.
ETF trading was once again light, although it did pick up a bit
when compared to yesterday's session. Some of the top index and
commodity based products continued to see volume levels that were
50% of normal, but investors did see more activity in a few sector
funds and some bond products during Tuesday trading.
In particular, investors saw an outsized level of interest in
the small cap market, especially in the micro caps with the
iShares Russell Microcap Index Fund (
. Volume usually comes in at about 89,000 shares a day but we saw a
significant spike past this in Tuesday's session (see
Three Impressive Small Cap Dividend ETFs
This burst of volume was especially impressive given the weak
trading levels that investors saw in a number of other style box
ETFs on the day. Even more important is that IWC saw some
good trading and momentum right at the close suggesting that this
fund could do better than some of its larger counterparts to close
out the week.
Another ETF that was a big mover in an otherwise light day was
PowerShares Dynamic Media ETF (
. This fund usually does about 43,000 shares in a normal day but
saw more than three times that move hands in Tuesday trading (read
Play a Consumer Recovery with These Discretionary
Most of the heavy volume came in the early part of the session
as there were large periods throughout the day that saw no shares
change hands. Still the product finished the day lower by about 40
basis points and could continue to be in focus thanks to some top
holdings in News Corp and Yahoo!, which have both been in the news
a ton as of late.
(see more in the
ISHARS-RS MCR I (IWC): ETF Research Reports
PWRSH-DYN MEDIA (PBS): ETF Research Reports
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