Markets

Major ETFs Fall, But Biotech And Pharma Stocks Defy General Malaise

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Major stock ETFs closed lower Thursday as investors digested weak economic data and mixed quarterly earnings. Oil prices slumped after recording in the previous session their highest level since July 2015.

SPDR S&P 500 ( SPY ) gave up 0.2% on the stock market today .

This exchange traded fund serves as a proxy for the broad U.S. market and sits 2% below its August high of 219.60.

Health care topped advancing S&P 500 sectors with biotech and pharmaceutical stocks showing particular strength. SPDR S&P Biotech ( XBI ) punched up 1.8%.

[ibdchart symbol="xbi" type="daily" size="half" position="leftchart" ]

Telecom and industrials were among S&P sector laggards.

Crude oil prices came under profit-taking pressure after recent gains. West Texas Intermediate ( WTI ) crude settled at $50.43 a barrel.

United States Oil ( USO ), a commodity ETF investing in near-month WTI futures, shaved 2.0%.

In earnings news, American Express[ ticker symb=AXP] and equipment lender United Rentals ( URI ) surged after beating views on earnings, while Verizon (VZ) and eBay (EBAY) dropped hard despite doing the same.

Ebay's guidance disappointed investors.

In economic news, weekly jobless claims rose. That initially supported gold prices , before the precious metal headed lower as the dollar gained.

12 Bellwether ETFs

Here's how major exchange traded funds across major asset classes performed today, with IBD Relative Strength Ratings.

The RS Rating is a measure of a stock's price performance over the last 12 months, compared with all stocks and ETFs, on a scale of 1 to a best-possible 99.

Following daily ETF market action can be key to successful investing:

SPDR S&P 500 ( SPY ), -0.2%, RS 51

PowerShares QQQ (QQQ), -0.1%, RS 64

SPDR Dow Jones Industrial Average (DIA), -0.3%, RS 51

IShares Core S&P Mid-Cap (IJH), -0.5%, RS 58

IShares Russell 2000 (IWM), -0.3%, RS 64

IShares MSCI EAFE (EFA), +0.2%, RS 43

Vanguard FTSE Emerging Markets (VWO), -0.1%, RS 71

SPDR Gold Shares (GLD), -0.3%, RS 51

United States Oil ( USO ), -2.0%, RS 69

IShares Core U.S. Aggregate Bond (AGG), 0%, RS 39

PowerShares DB U.S.$ Bullish (UUP), +0.3%, RS 39

IPath S&P 500 VIX Short-Term Futures (VXX), -1.3%, RS 1

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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