Two Solar ETFs Lose Their Shine

Market Wrap-Up

A Department of Energy report released on Thursday said crude inventories had decreased 8.8 million barrels from the previous week. Usually, data like that will send oil prices higher. But the supply constraint was due to a problem unloading tankers in the Gulf of Mexico, not unexpected demand from consumers or businesses. Indeed, that temporary glitch and continuing concerns that prices will ease because of slowing usage caused traders to move out of this commodity. Oil finished the day down almost $4 a barrel to just over $126.

Winners

Merck (MRK) announced Thursday it scored not just one but two big legal victories when courts in Texas and New Jersey overturned an earlier verdict and damage award surrounding its painkiller Vioxx. That news sent the company's shares 1% higher and it also helped move health-care stocks in general. ProShares UltraShort Health Care (RXL), a fund that tries to double the results of the Dow Jones U.S. Health Care index, increased 3.8%.

Losers

For the second time this week, solar ETFs wound up in the red. These funds tend to move in line with the price of crude. As oil drops, investors fret less about finding a cheap alternative to black gold. But also weighing on solar stocks was a report that Germany, one of the world's largest solar markets, may slash the subsidies it gives to the industry. Also, a Merrill Lynch (ML) analyst downgraded SunPower (SPWR) and Evergreen Solar (ESLR), according to a Bloomberg article. Market Vectors Solar Energy (KWT) lost 6.6% and Claymore/Mac Global Solar Energy (TAN) dropped 6.5%.

The Week's Industry Headlines

Closing Time: Index Universe is reporting that Ameristock will shutter five Treasury bond ETFs that launched last year. This continues a trend of ETF closures started earlier this year when Claymore shut down 11 equity funds.

Next Week's Notebook

Earnings: Lions Gate Entertainment, Tiffany

Quick Take

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

10 Largest ETFs
Symbol	Net Assets	Price	52 Week High	52 Week Low	Volume
SPY	75,056	140.19	156.39	127.71	171,754,756
EFA	47,363	76.17	85.64	67.18	9,248,924
EEM	26,329	150.8	165.39	117.49	11,915,342
GLD	NA	86.54	99.81	63.55	12,691,124
IVV	19,029	140.28	156.65	127.94	2,964,447
QQQQ	17,729	49.69	55.03	41.17	138,986,326
IWF	13,447	59.16	63.64	52.79	1,740,716
SHY	9,296	82.78	84.49	79.64	264,560
VTI	10,450	139.99	155.31	126.28	84,929
IWD	8,843	76.44	89.77	70.41	1,437,188

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