ETFs Gain Ground as Oil Prices Climb

After two losing weeks, the Dow shot into positive territory Monday. A dose of stability for Sallie Mae in the form of new government contracts and an analyst upgrade helped shore up the financial sector. Oil prices notched solid gains, closing above $71, even though the International Energy Agency cut its medium-term forecast for total world oil demand by 3.7%. National distribution of some of that oil, particularly in somewhat unpredictable regions such as Russia, blunted fears of a supply glut. Also, fraudster Bernard Madoff, architect of the largest Ponzi scheme in investing history, received a 150-year prison term, which may have brightened a few faces on Wall Street. The Dow Jones Industrial Average rose 91 points to close at 8529. For a complete rundown of Monday s trading session see our market story.

Winners

The spike in oil prices gave the United States Oil fund (USO) a sizable boost, pushing shares 3.1% higher. A bounce-back in shares of Potash (POT), which last week cut its forecast for the upcoming quarter, helped drive the Market Vectors Agribusiness fund (MOO), up 2.1%.

Losers

A sizable swing hit the iPath S&P 500 VIX Short-Term Futures exchange-traded notes, with the volatility tracker losing 4.1%. Falling natural gas prices knocked back the United States Natural Gas (UNG) fund 3.9%.

Tuesday s Notebook

Earnings and Conference Calls
Exfo Electro-Optical Engineering, Investors Real Estate, Momentum Advanced Solutions, Park Electrochemical, Schnitzer Steel Industries, Sealy

Economic Data
7:45 a.m. ICSC Chain Store Sales Index for June 27
8:55 a.m. Redbook Retail Sales Index for June 27
9:00 a.m. April S&P/Case-Shiller Home Price Index
9:45 a.m. June Chicago PMI
10:00 a.m. June Conference Board Consumer Confidence
5:00 p.m. ABC/Washington Post Consumer Confidence for June 27

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

10 Largest ETFs
SymbolNet AssetsPrice52 Week High52 Week LowVolume
SPY 63,69292.7130.768.13167,842,598
EFA 30,20146.3569.0632.1621,139,381
EEM 30,79332.5645.2119.1252,776,043
GLD NA92.0497.2470.146,523,275
IVV 17,69292.98130.9268.243,518,254
QQQQ 13,35736.4548.3225.5191,671,369
IWF 9,44241.355.4530.492,631,129
SHY 7,05983.728582.52652,241
VTI 10,15746.5865.5633.751,671,709
IWD 7,12247.9570.6434.223,181,568

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