Notable ETF Movers of the Day 05/22: (XLF) (UNG) (XHB) Higher; (FXE) (RSX) Lower
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- Financial Select Sector SPDR (NYSE: XLF) up 1.87 percent to $14.16. The financials being led by JPMorgan Chase & Co. (NYSE: JPM) as more information about the recent trading ordeal emerges. In addition, Goldman issued a positive stance on JPMorgan following the recent announcement it would stop buybacks. For more on that note, click here. JPMorgan is up 4.7 percent on the session.
- United States Natural Gas (NYSE: UNG) up 2.94 percent to $19.32. Natural gas prices rising as traders are grabbing up the cheap commodity ahead of expectations for above-normal temps on the East Coast heading into June. Recent efforts to slow production should also help bolster prices.
June contracts are up $.097 to $2.706 per mmBtu on the Comex.
- SPDR S&P Homebuilders (NYSE: XHB) up 2.28 percent to $20.59. Homebuilders creeping higher following NAR data showing existing home sales rose 3.4 percent in April to an annual rate of 4.62 million.
- CurrencyShares Euro Trust (NYSE: FXE) down 0.56 percent to $126.84. The euro seeing some pressure following the conclusion of the NATO meeting in Chicago as analysts have slim hopes for an upcoming EU summit on Wednesday. France, Spain, Italy, and the EC have hopes for a strong push into a joint euro-zone bond.
- Market Vectors Russia ETF (NYSE: RSX) down 0.95 percent to $24.96. The Micex fell as President Vladimir Putin retained outgoing ministers, adding concern that market reform will be further delayed. The Micex ended up 0.2 percent lower.i
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