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Semiconductor, Mining Stock Funds Bolt Higher In Muted Stock Market

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Major index ETFs crept up in choppy trade Wednesday as a sharp fall in utilities offset a late surge in oil prices .

The CBOE Volatility Index, or "fear index," fell more than 3% to its lowest point since early August before reversing.

Utilities Select Sector SPDR ( XLU ) tumbled 2.5%, finishing near session lows but getting support just above the 50-day moving average of 47.88. The reason for the sharp decline was unclear.

SPDR S&P Semiconductor ( XSD ) outpaced several exchange traded funds with a 1.4% gain on the stock market today .

Apple ( AAPL ) chip supplier Qualcomm ( QCOM ) fell a fraction following its earnings report after the close. Qualcomm stock had nudged up in the regular session. It sits 26% below the 52-week high of 71.32.

Chipmaker Mellanox ( MLNX ) closed up 2.1% but tumbled more than 4% after hours. The IBD Leaderboard stock reported a Q1 loss of $7.2 million after the bell, Reuters reported.

Global X Silver Miners (SIL) turned a 1.3% intraday gain into a 1.2% loss at the close. The action came a day after SIL gapped upped 9%.

"Traders stepped in to buy the dip in (gold) prices, as the yellow metal remains in an overall bullish near-term technical posture," Kitco senior technical analyst Jim Wyckoff wrote early Wednesday. "The big rally in the silver market this week -- in which prices hit a 10.5-month high Wednesday -- is also working in favor of the gold market bulls."

SPDR Gold Shares (GLD) also reversed to an 0.5% loss. The IBD Leaderboard ETF is back near an aggressive 119 entry, drawn from a short-term trend line.

Financials and energy led advancing S&P 500 sectors Wednesday. Defensively oriented utilities and consumer staples trailed.

IPath S&P 500 VIX Short-Term Futures ETN (VXX), which tracks an index with exposure to futures contracts on the CBOE Volatility Index, rose 0.5% but continued to trade near a 52-week low.

Gains for the VXX tend to reflect a more bearish turn in investor sentiment.

11 Bellwether ETFs

Here's a look at how the major exchange traded funds tracking various asset classes performed today.

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

SPDR S&P 500 (SPY), +0.1%, RS 61

PowerShares QQQ (QQQ), +0.1%, RS 57

SPDR Dow Jones Industrial Average (DIA), +0.2%, RS 65

IShares Core S&P Mid-Cap (IJH), +0.1%, RS 65

IShares Russell 2000 (IWM), +0.1%, RS 46

IShares MSCI EAFE (EFA), +0.1%, RS 46

Vanguard FTSE Emerging Markets (VWO), -0.6%, RS 54

SPDR Gold Shares (GLD), -0.5%, RS 73

IShares Core U.S. Aggregate Bond (AGG), -0.2%, RS 42

PowerShares DB U.S.$ Bullish (UUP), +0.6%, RS 27

IPath S&P 500 VIX Short-Term Futures (VXX), +0.5%, RS 7

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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