Notable ETF Movers of the Day 03/01: (GLD) (XRT) (SPY) Higher; (VXX) (TAN) Lower
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- Tesla Motors, Inc. (TSLA) Tops Q2 EPS by 7c
- SPDR Gold Trust (NYSE: GLD) up 1.82 percent to $167.27. Gold prices appear to be bouncing today following a 5 percent dive Wednesday. Fed Cheif Ben Bernanke commented Wednesday that the recent improvement in employment and housing data has caught the Fed's attention, but rates will continue to remain low for an extended period. There was no hints of additional quantitative easing being planned.
April gold contracts are $9.9 better to $1,721.2 per ounce on the Comex.
- SPDR S&P Retail ETF (NYSE: XRT) up 1.19 percent to $59.58. Some nice movement in the retail sector following release of some February comparable-store sales numbers. Overall, research firm Redbook said comps rose 6.6 percent for the sector in February. Gap (NYSE: GPS) is making a notable 8 percent movement following its numbers, while Office Depot (NYSE: ODP) is bouncing following an 8 percent slide Wednesday.
- SPDR S&P 500 (NYSE: SPY) up 0.50 percent to $137.71. Mixed economic data out Thursday is keeping U.S. market gains in check. Initial jobless claims of 351,000 were lower than the 355,000 expected. The number also came in slightly lower than 353,000 reported the prior week.
Amid the jobless claims news, the ISM Index came in below expectations at 52.4 while construction spending made an unexpected 0.1 percent drop in January.
- iPath S&P 500 VIX Short Term Fund (NYSE: VXX) down 1.22 percent to $24.22. The CBOE VIX is about 5 percent lower Thursday as investors take a complancent stance to the market. With Greece largely out of the way and economic data mixed, focus might be back on Bernanke for round two of his testimony, but most of the fluff is out of the way.
No economic data is set for Friday.
- Guggenheim Solar ETF (NYSE: TAN) down 1.53 percent to $28.47. The segment moving on mixed news. First, its reported that German subsidy cuts might be delayed by three-weeks or so as details continue to be hammered out and delegates continue to lobby for votes. Otherwise, First Solar (Nasdaq: FSLR) is continuing lower following its quarterly report last Tuesday. Shares have been hit over 16 percent the last two sessions, with the stock down an additional 6 percent Thursday.
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Related EntitiesConstruction Spending, Initial Jobless Claims, Ben S. Bernanke, Standard & Poor's, Notable ETF Movers
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