Apple, Airlines Get Buffett Boost, But Dow ETF Turns Negative

U.S. Global Jets ( JETS ) rose to a new high Tuesday as American Airlines ( AAL ) and United Continental ( UAL ) soared more than 5% each.

The ETF sailed past a 29.67 buy point of a cup with handle and remains in buy range. It advanced 18% the last time it broke out from a cup base in early November.

American, which raised Q2 unit revenue and pretax margin forecasts , is just shy of a 47.49 buy point. United on Monday reported strong April traffic figures; shares cleared a 76.90 entry en route to a new high. Warren Buffett, whose Berkshire Hathaway (BRKA) is a big holder of airline stocks.

SPDR Dow Jones Industrial Average ETF Trust ( DIA ) turned slightly negative despite a new high from Apple ( AAPL ).

The iPhone maker hit another new high as it rose nearly 1%. Buffett raised his company's Apple stake in Q1, according to a Berkshire Hathaway (BRKA) regulatory filing.

U.S. and emerging markets ETFs scored gains, while oil and gold funds underperformed.

Direxion Daily Emerging Markets Bull 3X Shares (EDC) gapped up and rose 4%, surging back above a 78.85 base-on-base buy point. It gained 13% between the two bases.

IShares MSCI Emerging Markets (EEM) added 1.3%. The ETF has about 25% of assets in China, with Alibaba (BABA) as one of the top 10 holdings. The Chinese online retail giant was up more than 2% as it neared its all-time highs.

ProShares UltraPro QQQ (TQQQ) gained 1% to a record best. It's extended from a mid-April bounce off the 50-day moving average. PowerShares QQQ Trust (QQQ) climbed 0.3%.

Among sector funds, gold and oil plays underperformed, though gold ETFs pared earlier losses. VanEck Vectors Junior Gold Miners (GDXJ) and VanEck Vectors Gold Miners (GDX) were down 1.2% and 0.7% respectively, while VanEck Vectors Oil Services (OIH) and SPDR S&P Oil & Gas Exploration & Production (XOP) lost about 1% each.

West Texas intermediate crude prices slid 1% to below $46 a barrel; gold futures fell 0.8% to $1,217.90 an ounce. In the commodity space, SPDR Gold Trust (GLD), iShares Gold Trust (IAU) and United States Oil Fund (USO) dipped more than 0.8% each.

On the upside, SPDR S&P Retail (XRT) and iShares U.S. Home Construction (ITB) both rose more than 1%.


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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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