Notable ETF Movers of the Day 12/21: (TLT) Higher; (SPY) (XLF) Lower
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Gainers:
iShares Barclays 20+ Year Treas. Bond ETF (NYSE: TLT) gained 1.15 percent. With equity markets bleeding red, it is no surprise investors are hiding out in bonds today. After climbing above 1.8 percent, yields on 10-year treasures dipped to 1.75 percent on Friday, lifting prices. On a weekly time frame, investors noted the beginnings of a small but potentially import move out of bonds, though it is far to early to call it a reversal.
Decliners:
SPDR S&P 500 ETF (NYSE: SPY) declined 1.3 percent intraday on Friday after John Boehner's "Plan B" budget proposal failed to get support from his own party, resulting in the bill being pulled without a formal vote. Investors' reaction was swift and decidedly negative, and the S&P 500 experienced weakness across the board. Micron Technology Inc. (NASDAQ: MU) experience the largest decline, shedding 7.6 percent after reporting Q1 earnings that missed estimates.
Financial Select Sector SPDR ETF (NYSE: XLF) declined 1.3 percent. With markets drowning in a sea of fiscal-cliff-related weakness, picking the worst of the worst today is not an easy task. In any case, financials certainly make the top of the list, with homebuilders (NYSE: XHB), energy (NYSE: XLE) and technology (NYSE: XLK) receiving honorable mentions. Among large banks, Bank of America Corporation (NYSE: BAC) posted a noticeable large decline on Friday, losing 2.5 percent.
iShares Barclays 20+ Year Treas. Bond ETF (NYSE: TLT) gained 1.15 percent. With equity markets bleeding red, it is no surprise investors are hiding out in bonds today. After climbing above 1.8 percent, yields on 10-year treasures dipped to 1.75 percent on Friday, lifting prices. On a weekly time frame, investors noted the beginnings of a small but potentially import move out of bonds, though it is far to early to call it a reversal.
Decliners:
SPDR S&P 500 ETF (NYSE: SPY) declined 1.3 percent intraday on Friday after John Boehner's "Plan B" budget proposal failed to get support from his own party, resulting in the bill being pulled without a formal vote. Investors' reaction was swift and decidedly negative, and the S&P 500 experienced weakness across the board. Micron Technology Inc. (NASDAQ: MU) experience the largest decline, shedding 7.6 percent after reporting Q1 earnings that missed estimates.
Financial Select Sector SPDR ETF (NYSE: XLF) declined 1.3 percent. With markets drowning in a sea of fiscal-cliff-related weakness, picking the worst of the worst today is not an easy task. In any case, financials certainly make the top of the list, with homebuilders (NYSE: XHB), energy (NYSE: XLE) and technology (NYSE: XLK) receiving honorable mentions. Among large banks, Bank of America Corporation (NYSE: BAC) posted a noticeable large decline on Friday, losing 2.5 percent.
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