Breaking News

Marijuana-themed ETFs jump after report of legalized marijuana deal

An exchange-traded fund that tracks the cannabis-related business spiked on heavy volume on Friday, after the Washington Post reported that President Donald Trump promised Sen. Cory Gardner that he would improve congressional efforts to protect states that have legalized marijuana. The Horizons Marijuana Life Sciences Index ETF HMMJ, +6.48% surged 6.5%. The ETF, which is listed on Toronto's replace, traded on volume of more than 940,000 stocks, just about twice its 30-day moderate. Another fund, the ETFMG Alternative Harvest ETF MJ, +4.74% rose 4.7% and noticed volume of just about 1.5 million stocks, significantly higher than its 30-day moderate, which is below 280,000. For each, the day's transfer used to be the largest one-day proportion acquire since Feb. eight, in addition to their fourth straight certain session. The Dow Jones Industrial Average DJIA, -Zero.50% fell Zero.5% on Friday while the S&P 500 SPX, -Zero.29% closed down Zero.3% and the Nasdaq Composite Index COMP, -Zero.47% closed down Zero.5%.