ETFS are showing for gains Friday as oil prices continued to stabilize and investors took a pause from global concerns that have the major indexes poised for weekly losses.
- The economy grew slower than initially estimated in the fourth quarter as government spending contracted more sharply and consumer spending was less robust, a government report showed on Friday. Gross domestic product grew at annualized rate of 2.8%, UBT) is up slightly so far today.
- RETL)is up more than 1% on the news.
- VGK) rose almost 1% in early trading.
- Light, sweet crude-oil prices edged higher but held below the $100-a-barrel level on Friday, as energy traders digested moves by Saudi Arabia and others to calm supply worries triggered by turmoil elsewhere in the Middle East and in North Africa. Indeed, oil had ended on a weaker note Thursday, after Saudi Arabia and the DBO)are keeping somewhat quiet today; it's up 0.7% so far.
Gregory A. Clay contributed to this article.