Video News This is the ETF market time that gives a glance at the ETF trends last night. In todays market, the Uranium Companies and Energy Companies ETFs were bullish. Meanwhile, Chinese companies and anti-cashwood ETFs were bearish.
First, lets look at the uranium company. Today, uranium-related companies showed a good trend. Canadas Cameco, the worlds largest uranium producer, rose about 9%. In addition, NexN Energy rose about 6% and Energy Fuels rose about 14%. Uranium has been attracting attention as an alternative to the recent surge in oil prices. As a result, prices have risen significantly, which is a boon for related companies. However, as clean energy emerged as an alternative energy to uranium soon, uranium-related stocks showed weakness. But in todays market, its going the opposite way. As uranium mining companies performed well, related ETFs also rose. Lets check out the Global X Uranium ETF. It is operated by Mirae Asset Global X. We have a heavy holding of the aforementioned companies. The market closed 6.99% higher today.
Next, lets check the energy company ETF. Of the 11 sectors today, the energy sector gained the most, rising 3.47%. Lets take a look at it in detail. Occidental Petroleum rose about 9%, EOG Resources about 4% and ExxonMobil about 2%. As energy companies drew an upward curve, related ETFs also rose. Lets take a look at the SPDR S&P Oil & Gas Exploration & Production ETF. It is operated by State Street Global. The stock rose 5.28% today.
Lets take a look at the ETF that has gone down. First, let’s take a look at Chinese corporate ETFs. Yesterday, Chinese companies listed in the US posted record gains. The rise came as concerns about regulations eased as the Chinese government showed a willingness to stimulate the economy and support overseas business expansion. In todays chapter, we are going to breathe. Its a Chinese e-commerce company. Pinduo Duo is about 7% behind. In addition, Alibaba fell about 4% and JD.com fell about 3%. In this regard, Barrons analyzed that the political structure, the ultimate cause of recent market instability, has not changed. Yesterdays rise showed how much Chinese companies depend on government directives. As Chinese companies listed in the US fell, related ETFs also pushed back. Lets take a look at the KraneShares CSI China Internet ETF. It is operated by CraneShares, and the market fell 8.03% today.
Finally, lets take a look at the Anti Cash Wood ETF. Today, Jean Cass Woods Arc Innovation ETF curves upward. It rose 4.81% and closed. The reason why the arc innovation has shown such a good trend is because technology stocks have risen. The tech-focused Nasdaq closed 1.33% higher. Lets check the flow of top holdings as well. Tesla is up about 3%, Teladoc Health is up about 5%, and Zoom is up about 4%. When the arc innovation showed a good flow like this, SARK, which followed it in the opposite direction, came down. The Tuttle Capital Short Innovation ETF is managed by Turtle Tactical Management. The market closed 4.99% lower today.
This is the ETF market so far.
Lee Ye-eun Foreign Correspondent