Major index ETFs punched up at Thursday's open on sharply higher oil prices , a day after retail earnings rattled investors and raised fresh concerns about the American consumer.
On Thursday, however, oil prices drove early stock market action.
U.S. crude oil futures briefly topped $47 a barrel ahead of the market open, the highest level since early Nov. 2015, according to news reports. The gains followed official data showing an unexpected fall in U.S. crude stockpiles vs. market expectations for a rise.
United States Oil ( USO ), a commodity ETF, popped 0.9% intraday. USO invests in near-month West Texas Intermediate crude futures.
The health care sector lagged in morning trade. Biotech stock ETFs sold off sharply, giving up as much as 1.5%.
Brazilian stocks were in motion a day after Brazil's senate voted to suspend President Dilma Rousseff and begin impeachment proceedings against her.
IShares MSCI Brazil Capped ( EWZ ) shaved off more than 1% intraday, trailing most other international stock peers.
On the IBD Leaderboard , SPDR Gold Shares (GLD) came under modest pressure, giving up 0.2%. GLD is still showing relative strength, although progress has been slow from a prior buy point of 120.94. It has also fallen below an alternative 122.47 entry.
12 Bellwether ETFs
Here's a look at how major exchange traded funds, tracking various asset classes, are performing today.
Following daily ETF market action can be key to successful investing:
SPDR S&P 500 (SPY), +0.4%, RS 58
PowerShares QQQ (QQQ), +0.1%, RS 50
SPDR Dow Jones Industrial Average (DIA), +0.4%, RS 58
IShares Core S&P Mid-Cap (IJH), +0.6%, RS 62
IShares Russell 2000 (IWM), +0.4%, RS 50
IShares MSCI EAFE (EFA), +0.8%, RS 34
Vanguard FTSE Emerging Markets (VWO), +0.4%, RS 34
SPDR Gold Shares (GLD), -0.1%, RS 76
United States Oil ( USO ), +1.0%, RS 42
IShares Core U.S. Aggregate Bond (AGG), -0.1%, RS 50
PowerShares DB U.S.$ Bullish (UUP), 0%, RS 31
IPath S&P 500 VIX Short-Term Futures (VXX), -1.1%, RS 7