European events were in focus during Monday's trading session as
voters swung to the left in France and went to both extremes in the
case of Greece. As a result, worries over the future of austerity
programs across the continent were high, leaving the next step in
the crisis uncertain to say the least.
Thanks to this risk, stocks sold off in some markets to start
the week although U.S. exchanges were mostly mixed in Monday
trading. The Nasdaq and the S&P 500 both managed to squeak by
with gains while the Dow finished the day lower by 0.2%.
In terms of sectors, financials largely finished the day in the
green while tech was more mixed as software companies led the
segment lower in Monday trading. Basic materials also had a rough
day, although most of the big oil was spared and the losses were
concentrated in the independent and refiner segments.
Currency markets started the day strongly in the dollar's favor,
although the greenback lost most of its gains heading into the end
of the day. A similar situation happened in the Treasury market as
yields sank to start the day and then gained all of their lost
momentum to finish Monday more or less at breakeven (see
Greek ETF Plunges On Election Results
In commodity trading, investors saw mixed-to-negative sentiment
permeate the markets as precious metals slipped along with crude
oil. In terms of gainers, Natural gas was again a big winner while
copper and sugar both added about 1% on the day as well.
ETF trading was also mixed as many products saw volumes that
were in-line with their historical averages. However, investors did
again see more interest in European trading, as well as oil,
financials, and global ETF segments as well.
In particular, investors saw a nice increase in volume for the
PowerShares DB Oil Fund (
. This ETF usually sees volume of about 460,000 shares but
experienced a spike to just over 3.0 million shares in today's
Van Eck Files For Saudi Arabia ETFs
This bump came as the rest of the oil ETF sector also saw large
increases in volume on the day so this wasn't too much of a
surprise, although the rest of the space couldn't match the move
that DBO saw. Additionally, investors should note that a large
majority of the trading came in the early part of the day; a
144,000 share block to open trading, and then close to 450,000
shares over the course of the 12:20pm-12:25pm period.
For these investors, this turned out to be a decent move, as the
product rebounded into the close of Monday trading. However, it is
worth noting that this popular oil ETF still finished the session
lower by about 0.6% from where it started the week.
Another ETF that experienced a truly massive move in volume was
SPDR DJ Wilshire Total Market ETF (
. Usually, the product sees volume of about 6,500 shares but saw a
whopping 2.5 million shares change hands in today's session (read
Ten Biggest U.S. Equity Market ETFs
The reason for this massive increase in interest are unclear as
similar total market funds either saw volumes that were in-line
with averages or even were slightly below what has usually been
seen. Additionally, it appears as though an impressive 2.5 million
share block at 9:38 am was the bulk of the volume, as the product
then traded just a few hundred shares throughout the rest of the
Apparently, a very large investor was enamored with TMW's style
and made it their preferred choice for investing in the entire U.S.
market during Monday's trading session.
(see more in the
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