MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, November 8, 2012 Which ETFs Surged on Obama's Win? As with voters, so too with ETFs. Some were pleased with president Obama's reelection and some were not. Minyanville writer Sterling Wong has the details. The first funds to take a hit, Wong writes, were coal ETFs, which dropped yesterday "with traders concerned that the Obama Administration...would impose regulations that would further limit coal mining in the U.S." Coal ETFs from Marketvectors and PowerShares each dropped over 5 percent yesterday, and Wong links to a Reuters piece in which a trader claims that this fall is "100 percent related to the election results." Defense and aerospace ETFs, like the iShares Dow Jones US Aerospace & Defense ETF and the PowerShares Aerospace & Defense ETF, sank along with Romney's hopes, as investors can no longer look forward to increased defense spending in a Republican administration. Then there were the ETFs that rose following Obama's big night. Gold ETFs rose on "the likelihood of further central bank stimulus," Wong writes. Other winners: green ETFs, like Market Vectors Solar Energy ETF and iShares S&P Global Clean Energy Index Fund, and tech-sector ETFs, such as Technology Select Sector SPDR and the iShares Dow Jones US Technology Index Fund. Printed from: MFWire.com/story.asp?s=41954 Copyright 2012, InvestmentWires, Inc. All Rights Reserved |