Notable ETF Movers of the Day 06/04: (UNG) (FXE) Higher; (TAN) (MOO) Lower
- Wall Street dips; Apple gain fails to offset rate worries
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- United States Natural Gas (NYSE: UNG) up 2.72 percent to $16.62. Nat gas on the move due to some value buying as well as expectations for warmer-than-normal weather for much of the U.S. over the next week. Contracts are up about 2.6 percent on the session as a forecast from one national weather service sees temps at or above 90 degrees for much of the Midwest.
The WSJ notes that inventories are up 35 percent from the same period last year, to 2.815 trillion cubic feet.
- CurrencyShares Euro Trust (NYSE: FXE) up 0.62 percent to $124.31. The euro is paring some losses realized last week as traders close out bets on further near-term downfall. Despite Spanish yields ripping, many are waiting for later in the week when the the European Central Bank (ECB) will be holding a meeting, and Thursday, when U.S. Fed chair Ben Bernanke will be testifying in front of a congressional panel.
- Guggenheim Solar (NYSE: TAN) down 1.75 percent to $16.74. Solar stocks galling to still-low natural gas prices. With nat gas being cheap, the need for conversion to solar power wanes. For more color on the move in solars today, click here.
- Market Vectors Agribusiness ETF (NYSE: MOO) down 1.17 percent to $44.93. The segment lower on gloomy outlook for macro growth given the situation over in Europe as well as more potential easing in the U.S. should our situation not shape up. Mosaic (NYSE: MOS) and Deere (NYSE: DE) are both notably lower on the session, down 2.7 percent and 2 percent, respectively.
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Related EntitiesBen S. Bernanke, European Central Bank, Notable ETF Movers
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