Profit Taking Washes Out ETF Rally

Investors had been waiting for Thursday to arrive for weeks since it marked the release of the results of the government’s “stress tests” on 19 large financial institutions. The Dow Jones Industrial Average gained 101 points on Wednesday when news leaked the results weren’t as bad as expected. But profit taking kicked in and washed out those gains. Now, investors are left to look at what’s next for the market. One concern: Zillow, the real estate web site, said home values fell for the ninth consecutive quarter. To see a complete market rundown read our market story. 

A jump in natural gas prices boosted shares of the United States Natural Gas Fund (UNG) by 6.9%. Investors who bet right on the broad market’s pullback using the ProShares Short S&P 500 (SH) ETF saw a 1.3% gain.

A selloff at Vornado Realty Trust (VNO) helped push down shares of the iShares Cohen & Steers Realty Majors fund (ICF) 6.7%. Vanguard REIT (VNQ) slipped 5.7%.

Earnings and Conference Calls
Beazer Homes, Berkshire Hathaway, Calpine, Liberty Media, Scripps Networks, Six Flags, Westar Energy

Economic Data
8:30 a.m. April Non-Farm Payrolls
8:30 a.m. April Unemployment Rate
10:00 a.m. March Wholesale Trade

A look at how the industry's most popular ETFs did on Thursday: