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Notable ETF Movers of the Day 01/10: VXX, USO, TAN Higher; XLE, UNG, XHB Lower

January 10, 2011 11:55 AM EST
Gainers

  • iPath S&P 500 VIX Short-Term Futures ETN (NYSE: VXX) up 2.0%% to $36.78. Markets are down overall today, and M&A has taken place this morning with no U.S. economic data to offset the move. Portugal is coming under mounting pressure to accept an aid package. News is hitting the U.S. markets today.

  • United States Oil (NYSE: USO) up 1.14% to $38.10. Oil trading higher today as word of a leak in the Trans-Alaskan Pipeline causing a shut down on January, 2010.

  • Guggenheim Solar (NYSE: TAN) up 1.34% to $7.56. Though not a top holding in the ETF, solar stocks are getting a boost from LDK Solar (NYSE: LDK) today, as the company increased
    Q4 and FY11 guidance
    . LDK shares are up 15.5% today.


Receders

  • Energy Select Sector SPDR (NYSE: XLE) down 0.98% to $67.61. The ETF is trading lower following a merger announcement between Progress Energy (NYSE: PGN) and Duke Energy (NYSE: DUK). Concerns stem around Duke's Ohio and Indiana exposure, according to BofA/Merrill. Additionally, ExxonMobil (NYSE: XOM) was downgraded from Overweight to Equalweight at Barclays, with a price target increased from $81 to $85.

  • United States Natural Gas (NYSE: UNG) down 1.66% to $5.93. The National Weather Service is forecasting more normalized temps for next week across the U.S., potentially causing a drop in nat gas draws.

  • SPDR S&P Homebuilders (NYSE: XHB) down 1.11% to $17.57. Led by KB Home (NYSE: KBH), which was downgraded by Credit Suisse from Neutral to Underperform this morning. KB shares jumped 6.4% on Friday following a solid Q410 earnings report, but shares are pulling back 5.2% today. Overall, other top holdings in the ETF are mixed today.


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