Notable ETF Movers of the Day 03/14: (VXX) (XLK) (UUP) Higher; (USO) (FXI) Lower
- Buffett's Berkshire Hathaway Discloses ~$4.5B Stake in Phillips 66 (PSX)
- Amicus Therapeutics (FOLD) to Acquire Scioderm in ~$950M Deal
- China stocks slide as crackdown on speculators spreads, lose 11 percent in August
- Cowen Starts Planet Fitness (PLNT) at Outperform
- Deutsche Bank Upgrades J. C. Penney (JCP) to Buy with Price Target of $12
- iPath S&P 500 VIX Short Term Fund (NYSE: VXX) up 2.24 percent to $21.72. The CBOE VIX volatility index is on the rise Wednesday amid moderate market conditions as volume appears to be lower on the session. The VIX is up about 3 percent for the session.
- SPDR Select Sector Fund - Technology (NYSE: XLK) up 0.40 percent to $29.92. The tech ETF higher as Apple (Nasdaq: AAPL) is leading everyone higher, up about 2.5 percent for the session. Apple had a release earlier affirming the launch of its new iPad on Friday, at 8am local time. In addition to the U.S. and Canada, the device will be available in Australia, France, Germany, Hong Kong, Japan, Singapore, Switzerland and the UK; along with Puerto Rico and the US Virgin Islands.
- PowerShares DB USD Index Bullis (NYSE: UUP) up 0.40 percent to $22.39. The U.S. dollar gaining strength Wednesday as investors made their way back into the currency on lack of Fed action on QE3 as well as 80 percent of large U.S. financial institutions besting the Fed's Stress Test, an encouraging sign for markets.
- United States Oil Fund (NYSE: USO) down 0.73 percent to $40.53. The EIA reported a 1.8 million barrel increase in stockpiles last week, though estimates were expecting something closer to 1 million barrels. April contracts are down $0.77 to $105.94 per barrel on the Comex.
- iShares FTSE China 25 Index Fund (NYSE: FXI) down 2.70 percent to $38.88. Shares in China dropped following comments from Premier Wen Jiabao that easing property curbs would cause chaos in the market. The Shanghai Composite fell 2.6 percent at the close.
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