See-Saw Tuesday Leaves Most ETFs Flat

Stocks gritted out minor gains Tuesday, with most ETFs staying relatively unchanged as major indexes wavered after a long-anticipated earnings beat from Goldman Sachs (GS) and a report from Bank of America- Merrill Lynch called an end to the global recession.

Goldman reported earnings of $4.93 a share, compared to earnings of $4.58 a share in the same quarter a year ago. It was expected to earn $3.48 a share. While that signaled that the financial sector had moved away from the abyss, much of the revenue came from underwriting secondary share offerings of troubled banks and other institutions struggling to raise capital.

The Dow Jones Industrial Average closed up 10 points at 8342. The Nasdaq stayed slightly up, holding a gain of 5 at 1799, while the S&P 500 hovered up 2 at 903. For a detailed rundown on Tuesday s trading session see our market story.

Winners

Rising energy prices powered the United Natural Gas fund (UNG) 4.3% higher. The energy-heavy Market Vectors Russia (RSX) also gained 2.5%.

Losers

Investors pulled out of government debt to test the equity market waters, sending the iShares Barclays 20+ Year Treasury Bond (TLT) down 1.6%. The range-bound session left the SPDR KBW Regional Banking (KRE) down 1.0%.

Tuesday s Industry Headlines

Launching Pad
ProShares announced the launch of ProShares Credit Suisse 130/30 (CSM) . The ETF seeks to track the Credit Suisse 130/30 Large-Cap Index developed by MIT finance professor Andrew Lo and Credit Suisse director of quantitative research Pankaj Patel. The fund charges an annual fee of 0.95%.

Wednesday s Notebook

Earnings and Conference Calls
Abbott, Alliance Financial, AMR, Cintas, Corus Entertainment, Crown Holdings, Gannett, Kinder Morgan Energy Partners, Lufkin Industries, Stanley Furniture, Texas Industries, United Community Financial, Universal Forest Products, W.W. Grainger, Wolverine World Wide, Worthington Industries

Economic Data
8:30 a.m. June Consumer Price Index
8:30 a.m. June Consumer Price Index, ex-food energy
8:30 a.m. July Empire State Fed Manufacturing Survey
9:15 a.m. June Industrial Production
9:15 a.m. June Capacity Utilization
2:00 p.m. Federal Reserve FOMC Minutes

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

10 Largest ETFs
SymbolNet AssetsPrice52 Week High52 Week LowVolume
SPY 63,69290.61130.768.13178,230,385
EFA 30,20145.0467.8432.1615,240,149
EEM 30,79331.4843.7519.1241,672,881
GLD NA90.8197.2470.145,716,862
IVV 17,69290.96130.9268.246,874,722
QQQQ 13,35735.7248.3225.51112,187,262
IWF 9,44240.4455.4530.491,977,726
SHY 7,05983.858582.52488,805
VTI 10,15745.4865.5633.753,939,044
IWD 7,12246.1770.6434.222,118,919

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