Notable ETF Movers of the Day 05/29: (USO) (FXI) (SMH) Higher; (VXX) (UNG) Lower
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- Fortis to Acquire UNS Energy (UNS) for $60.25/Share
- United States Oil (NYSE: USO) up 1.20 percent to $34.63. Crude prices rebounding Tuesday following the commodity hitting the lowest prices its seen in seven-months last week, as markets remain calm heading into Greek elections on June 17th as nonfarm numbers for May expected out on Friday.
In addition, Spain said it was on track to meet key budget deficit targets for 2012, though its central bank said Spain would remain in a contractionary state through the second quarter.
- iShares FTSE China 25 Index Fund (NYSE: FXI) up 3.62 percent to $33.76. Shares in China ripping higher on word its government might take more stimulus measures to stem the recent economic slowdown.
Some analysts see China kicking in 1 trillion to 2 trillion yuan in the effort, equal to about $158 billion to $315 billion.
- Market Vectors Semiconductor ETF (NYSE: SMH) up 1.38 percent to $31.66. Chips up Tuesday, led by Intel (Nasdaq: INTC) and NVIDIA (Nasdaq: NVDA), following a note issued by Nomura about the potential for a merger between the two.
- iPath S&P 500 VIX Short-Term Futures ETN (NYSE: VXX) down 3.07 percent to $19.59. The CBOE VIX is lower Tuesday as markets are complacent overall on economic data, stimulus rumors.
The Case-Shiller 20-City Index fell 2.6 percent in March, narrower than a 3.5 percent dip in February and expectations calling for a 2.8 percent drop.
- United States Natural Gas (NYSE: UNG) down 0.88 percent to $18.03. Nat gas lower following the weekend scorcher which saw many parts of the Midwestern and East Coast U.S. hit record-high temps. The heat wave prompted many to turn up the air conditioning, with nat gas being used to fire electrical plants. With temps expected to drop later in the week, demand for the commodity should drop off once again.
July contracts are $.038 lower to $2.589 per mmBtu on the Comex.
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