Notable ETF Movers of the Day 01/03: (TAN) (XRT) Higher; (GDX) Lower

January 3, 2013 1:47 PM EST

Guggenheim Solar ETF (NYXE: TAN) gained 10.8 percent to 18.20. Investors looking for a reason behind today's huge rally are pointing a finger legendary investor Warren Buffet. Yesterday news broke that Buffett’s MidAmerican Renewables will acquire the 579-megawatt Antelope Valley Solar Projects (AVSP) from SunPower. While not necessarily a ringing endorsement from the Oracle himself, it caused a rally in solar, which may have triggered a short squeeze on Thursday. As of December 14th, 49.1 percent of First Solar (Nasdaq: FSLR) shares were sold short, indicating massive short interest in the sector. The squeeze rippled throughout the space, with many stock such as Suntech Power Holding (NYSE: STP) and LDK Solar Co., Ltd. (NYSE: LDK) posting massive double digit gains.

SPDR S&P Retail (NYSE: XRT) gained 1.3 percent to 63.6. A number of retailers, including Gap (NYSE: GPS) reported December sales figures this morning. On the whole, investors see the results as positive, especially in light of recent worries about holiday spending. Other apparel companies reporting sales figures today include The Buckle (NYSE: BKE), The Limited (NYSE: LTD), Ross (Nasdaq: ROST), and TJX Cos. (NYSE: TJX). A number of general merchandise retails reported December sales figures as well, including Macy's (NYSE: M) and Target (NYSE: TGT).


Market Vectors Gold Miners ETF (NYSE: GDX) declined 1.6 percent to 46.3. Yesterday's fiscal cliff deal did not bode well for gold and gold miners. While gold initially had a positive reaction to the news, strength in the U.S. dollar today caused metals to give up gains. Spot gold prices remain below $1700 per ounce, currently $1675. SPDR Gold Shares ETF (NYSE: GLD) is lower by 0.6 percent. Shares of Newmont Mining (NYSE: NEM) declined 1 percent.

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