Coal ETF Climbs on Bullish Prognosis

Market Wrap-Up

The stock market couldn't quite get in gear Wednesday, as a surprising bit of economic data was countered by falling financial-services stocks. According to a Commerce Department report, durable good orders for April came in better than expected. However, that tiny bit of good news was offset by renewed criticisms about big Wall Street firms like AIG (AIG) and Lehman Brothers (LEH), and that banks big and small will continue to write down assets. Also putting a damper on things was a front-page article in The Wall Street Journal that detailed an inquiry by securities regulators into the trading of Bear Stearns' (BSC) shares shortly before the company's demise. After falling the previous session, oil also made a slight comeback, gaining to almost $131 a barrel. A late spurt at the end of the trading session helped the Dow Jones Industrial Average eke out a 46-point gain to 12,594.

Winners

An analyst upgrade of Peabody Energy (BTU) and a bullish prognosis on prices, helped send coal stocks higher Wednesday. Market Vectors Coal (KOL) is a five-month-old fund that tracks an index of 39 stocks, mostly coal mining and production companies. Major constituents include Peabody, Joy Global (JOYG), and Arch Coal (ACI). This ETF gained 5.1% Wednesday.

Losers

KeyCorp's (KEY) shares dropped over 10% on Wednesday after the company announced it may have greater write-offs than once anticipated. Also, several analysts downgraded Wall Street firms and renewed concerns that companies like AIG may have to raise additional capital to shore up their balance sheets. The iShares Dow Jones U.S. Regional Banks ETF (IAT) dropped 2.2%. The SPDR KBW ETF (KBE) decreased 1.8%.

Thursday's Notebook

Earnings: Big Lots, Costco, Dell, Heinz, J. Crew, Joy Global, Marvell Technology, Movado, Sears, Wet Seal

Quick Take

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

10 Largest ETFs
Symbol	Net Assets	Price	52 Week High	52 Week Low	Volume
SPY	75,056	139.5	156.39	127.71	178,341,933
EFA	47,363	76.45	85.64	67.18	7,691,323
EEM	26,329	150.45	165.39	117.49	10,317,400
GLD	NA	89.13	99.81	63.55	8,102,215
IVV	19,029	139.6	156.65	127.94	2,753,654
QQQQ	17,729	49.23	55.03	41.17	118,238,498
IWF	13,447	58.86	63.64	52.79	3,541,653
SHY	9,296	82.81	84.49	79.64	413,684
VTI	10,450	139.29	155.31	126.28	346,155
IWD	8,843	75.99	89.77	70.41	862,445

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