Notable ETF Movers of the Day 05/21: (USO) (XLK) (FXI) Higher; (VXX) (UNG) Lower
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- United States Oil (NYSE: USO) up 1.31 percent to $34.88. Crude moving higher following a six-session slide as weekend polls suggested Greek elections could produce a government which would be instrumental in maintaining Greece as part of the euro zone.
In addition, China Premier Wen Jiabao hinted at further stimulus to keep the world's second-largest oil consumer powering ahead.
- Technology Select Sector SPDR (NYSE: XLK) up 1.42 percent to $27.86. The tech ETF is higher on the session as Apple (Nasdaq: AAPL) is staging an impressive rebound as investors start shifting funds out of Facebook (Nasdaq: FB) and back into "Ol' Reliable." Apple is up about 3 percent on the session, stemming one of its worst slides in recent memory.
- iShares FTSE China 25 Index Fund (NYSE: FXI) up 1.61 percent to $33.53. China stocks moving higher following Wen Jiabao's comments. The Shanghai Composite Index closed 0.3 percent higher.
- iPath S&P 500 VIX Short-Term Futures ETN (NYSE: VXX) down 7.11 percent to $20.77. The CBOE VIX is lower as markets become more complacent with not real definitive economic data in the U.S. out this morning.
Traders are looking to Greece and its upcoming elections as well as less uncertainty from the Facebook (Nasdaq: FB) IPO, which took place last Friday.
- United States Natural Gas (NYSE: UNG) down 2.21 percent to $19.00. Traders are taking a little profit off the top here following a 9 percent run last week. Nat gas June contracts are down $.089 to $2.653 per mmBtu on the Comex.
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