American stocks had another range-bound session as a lack of
data and few earnings reports kept many investors on the sidelines.
With this backdrop, the Dow fell by 10 points on the day, while the
Nasdaq and the S&P 500 both finished in the green, adding,
respectively, seven points and one point in Thursday trading.
From a sector perspective, the day was very mixed overall
although some names in the tech and basic materials space were the
top performers. Meanwhile, on the downside, services-especially in
the credit market-along with some consumer firms, led the way,
although losses weren't that bad overall in these segments (see
Two ETFs That Have Surged from Their Lows
The American dollar was also flat in forex trading, moving
higher against the euro and pound, but falling against the yen.
Rates also continued to tick up, with the American 10 year hitting
the 1.7% mark and the UK Treasury bond coming up strong in the
yield department at a 1.62% rate.
Still, commodities rose again in Thursday trading, as oil and
metals were both in the green. Beyond this, grains were also
winners in Thursday trading, although some softs, like orange
juice, coffee, and sugar, finished the day in the red (watch
Preferred Stock ETFs Explained
ETF trading continued to be extremely light on Thursday with
many products seeing volume that is 50% of normal levels while a
few popular commodity funds saw trading activity that was less than
33% of a normal trading day. Still, a few ETFs still managed to see
outsized trading levels in Thursday, although these funds were
certainly few and far between.
One ETP in particular that saw an outsized trading day was the
iPath DJ-UBS Sugar TR Sub-Index ETN (
. This note usually does about 11,000 shares of volume in a normal
day but saw just over 26,500 shares move hands in Thursday trading
Beyond Corn: Three Commodity ETFs Surging this
This came as sugar continued its recent bearish run and finished
the day down another 1.2%, pushing its five day loss to 7.2%. This
move, along with some other recent negative activity, has pushed
SGG close to its late June levels, erasing much of its gains for
longer term investors. Possibly, some are betting on this bearish
momentum continuing in this note, although the current Zacks ETF
Rank of 1 or Strong Buy could suggest some outperformance in the
Another ETF that saw a great deal of volume in Thursday trading
iShares MSCI Netherlands Investable Market Index Fund (
. This product usually sees about 71,000 shares change hands in a
normal day but saw a spike to 544,000 shares in Thursday's session
Beyond Germany: Three European ETFs Tracking Strong
This volume increase was especially peculiar as many other
European funds did not see a similar level of trading on the day.
Furthermore, EWN only added about 0.2% on the session, so it seems
unlikely that the fund was in focus for that reason.
However, it should be noted that the product appears to be on
the verge of breaking out of its recent channel from a technical
perspective. This potentially positive technical trend could be
driving some of the recent interest in the Netherlands ETF.
(see more in the
ISHARS-NETHERLD (EWN): ETF Research Reports
IPATH-DJ-A SUGR (SGG): ETF Research Reports
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