Bank ETFs Gain Ahead of Stress Test Results

Another back and forth trading session ended Thursday with stocks slightly up amid a mix of upbeat tech earnings news, a possible Chrysler bankruptcy and grim housing data. The Dow Jones Industrial Average rallied at the end of the day gaining 70 points to close at 7957. For a complete rundown on Thursday s trading session, see our market story.

Winners

A solid performance from major indexes on the Bombay Stock Exchange pushed up shares of the PowerShares India Portfolio fund (PIN) by 4.6%. Smaller banks provided an alternative to controversy over government involvement in Bank of America (BAC) hasty purchase of Merrill Lynch. They drew investor interest, which boosted shares of the Regional Bank HOLDRS (RKH) 5%. Banks will get preliminary results of government stress tests tomorrow.

Losers

A dip in natural gas prices prompted a corresponding dip in shares of the United States Natural Gas fund (UNG), which fell 3.1%. Drops at major holdings Intel (INTC) and Texas Instruments (TXN) hit the Semiconductor HOLDRS (SMH) a bit, knocking shares 1% lower.

Friday s Notebook

Earnings and Conference Calls
3M, Arch Coal, Ford Motor, Honeywell, ITT, Mobistar, Schlumberger, Stanley Works, Wilmington Trust, Xerox

Economic Data
8:30 a.m. March Durable Goods Orders
10:00 a.m. March New Home Sales

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

10 Largest ETFs
SymbolNet AssetsPrice52 Week High52 Week LowVolume
SPY 58,92285.37142.8568.13311,329,407
EFA 24,09940.8778.5332.1630,384,195
EEM 21,21027.551.7219.1260,178,760
GLD 33,21388.897.2470.1415,938,518
IVV 14,66385.6143.0868.245,342,253
QQQQ 12,33733.1150.5825.51176,579,251
IWF 8,43137.5660.0630.493,086,307
SHY 7,44283.918582.111,306,874
VTI 8,41042.771.0933.753,654,432
IWD 6,16543.9478.5334.222,963,611

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