Notable ETF Movers of the Day 06/08: (UNG) (XRT) (UUP) Higher; (USO) (FXI) Lower
- United States Natural Gas (NYSE: UNG) up 0.76 percent to $15.93. Nat gas rebounding from a slump following bigger-than-expected stockpile increases reported Thursday, as some value buying takes place. In addition, some analysts today have said that lobbyists are working to curb LNG exports, aiming to keep the resource at home so domestic corporations can benefit from the cheaper energy source.
- PDR S&P Retail (NYSE: XRT) up 0.47 percent to $57.83. The ETF being bolstered by Expedia (Nasdaq: EXPE), which is moving higher following bullish comments issued by Deutsche Bank earlier. Expedia shares are up 2.7 percent on the session Friday.
- PowerShares DB US Dollar Index Bullish (NYSE: UUP) up 0.48 percent to $22.85. Following no affirmation of dollar-diluting stimulus, the currency is trading higher Friday. Notably, Spain is expected to as the EU for aid this weekend and several bits of economic data out of China should be released, including inflation and industrial output. The EUR/USD is down 0.59 percent to $1.2489.
- United States Oil (NYSE: USO) down 1.23 percent to $31.33. Crude prices lower due in part to missed expectations of more easing yesterday following Bernanke comments as well as China aiming to cut fuel price for the second time in 2012 and the largest drop since 2008. According to reports, China is looking to cut fuel prices 6 percent, as crude continues lower on weaker economic growth expectations.
- iShares FTSE China 25 Index Fund (NYSE: FXI) down 2.57 percent to $32.90. China stocks looking weak into the weekend on the aforementioned data release. Some may be taking profits from a pop in shares following the one-year lending rate cut indicated by The People's Bank of China Thursday.
The cut might signal that Chinese data might come in weaker than expected, meaning many traders could be positioning themselves for some data misses.
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