Notable ETF Movers of the Day 06/11: (FXI) (VXX) Higher; (XME) (UNG) Lower
- Top 10 News for 8/24 - 8/28: Markets Volatile on Continued China Worries; Revised Q2 GDP Outpaces; Facebook Hits User Activity Milestone
- Buffett's Berkshire Hathaway Discloses ~$4.5B Stake in Phillips 66 (PSX)
- Wall Street ends flat in quiet end to dramatic week
- Carl Icahn files 13D on Freeport-McMoran (FCX)
- Autodesk (ADSK) Tops Q2 EPS by 2c; Issues Light Q3 Outlook
- iShares FTSE China 25 Index Fund (NYSE: FXI) up 0.67 percent to $33.03. China stocks higher following exports climbing 15.3 percent in May, which exceeded all 29 of the estimates Bloomberg recorded in a survey.
China's consumer-price inflation slowed to 3 percent in the period, versus views calling a 3.2 percent increase. Production rose 9.6 percent and retail sales jumped 13.8 percent, but both came in shy of views.
- iPath S&P 500 VIX Short-Term Futures ETN (VXX) up 0.05 percent to $18.41. The CBOE VIX is mixed Monday following reports Spain asked for a €100 billion bailout from the EU. Despite approval, investors are still viewing any potential aid as a temporary fix. Without a real solution to its increasing debt costs, Spain will end up in the same spot it currently occupies.
The "troika," made up of the International Monetary Fund, the European Commission, and European Central Bank, said it will monitor Spain's bailout.
- SPDR S&P Metals & Mining (NYSE: XME) down 2.06 percent to $39.47. AK Steel is leading the pack lower following a downgrade by Goldman Sachs and Dahlman Rose earlier.Goldman issued a mixed call earlier. Goldman trimmed AK Steel (NYSE: AKS) from Neutral to Sell, cutting its price target 17 percent. Dahlman cut AK to Hold, from its previous rating of Buy.
Conversely, Goldman upgraded AK peer Commerical Metals (NYSE: CMC) from Sell to Neutral on Monday.
- United States Natural Gas (NYSE: UNG) down 2.69 percent to $15.57. Despite warmer temps in the forecast for much of the U.S., futures are lower as traders take a more long-term stance. Last Thursday, the EIA said stockpiles rose 62 billion cubic feet, compared with views expecting just a 57 bcf rise.
July contracts are down $.055 to $2.244 per mmBtu on the Comex.
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