Mid-Day ETF Update: M&A Activity Leaves Market Flat

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 |  Includes: FAA, PQZ, PSCM, USO, ZROZ
by: Tom Lydon

Monday is expected to be a fairly quiet day in the absence of major market-moving economic reports. ETFs were mostly quiet amid a flurry of mergers and acquisition.

According to the ETF Dashboard, one of the best-performing ETFs this morning was Claymore NYSE Arca Airline (NYSEArca: FAA), which jumped 4% on news that Southwest Airlines (NYSE: LUV) and AirTran (NYSE: AAI) would be joining forces.

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Airline ETF

Oil prices are creeping higher this morning, on their way to $77 a barrel. It can’t be described as runaway growth, since it’s being tempered somewhat by future demand for the fuel as economic weakness continues to pervade the United States and Europe. United States Oil (NYSEArca: USO) is down slightly this morning.

Oil ETFs, USO

Disclosure: None