Notable ETF Movers of the Day 06/18: (UNG) (TAN) (XHB) Higher; (USO) (XRT) Lower
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- Sears Holdings (SHLD) Files to Spin-Off Lands' End Unit
- United States Natural Gas (NYSE: UNG) up 3.73 percent to $17.80. Nat gas is back to moving higher Monday following stronger inventory data last Thursday which sent prices sharply higher. EIA data had stockpiles increasing less than economists were expecting, causing a 14 percent spike in prices. Overall, the nat gas glut above the trailing five-year average narrowed from 927 billion cubic feet in March to just 666 bcf as of the latest reading.
In addition, traders will be keeping an eye on warmer weather expectations for the next six to 10 days, which should prompt an increase in demand as consumers look to turn up the air conditioning.
- Guggenheim Solar (NYSE: TAN) up 1.46 percent to $18.79. Solars moving higher amid reports that Japan approved a new measure for renewable energy subsidies. The move comes following the disastrous earthquake and tsunami which hit offshore Japan in March 2011, causing a meltdown at Fukushima Daiichi. The event was cited as one of the worst nuclear disasters since Chernobyl in 1986.
- SPDR S&P Homebuilders (NYSE: XHB) up 0.44 percent to $20.32. Homebuilders higher following NAHB data that its housing index for June came in at 29, up from a revised-lower 28 in May and expectations for 28.
- United States Oil (NYSE: USO) down 1.07 percent to $31.29. Crude prices dropping amid fading enthusiasm for the Greek election as well as record yields on Spanish bonds.
Data has yields on Spanish 10-year bonds at a euro-era high of 7.14 percent. In addition, traders are practicing some caution following the elections in Greece, which found the pro-bailout party on top. The country still needs to form a government, a measure it failed to do with the last election.
- SPDR S&P Retail (NYSE: XRT) down 0.60 percent to $57.62. The ETF is being pressured by GNC (NYSE: GNC) Monday, with shares off 3 percent heading into Rite-Aid (NYSE: RAD) quarterly numbers on Thursday. Also of note, Barnes & Noble (NYSE: BKS) is up 1.4 percent heading into Microsoft's (Nasdaq: MSFT) special event later Monday, which is expected to produce a new tablet offering. Speculation has surrounded weather Barnes & Noble will be part of the Microsoft announcement, though Dow Jones was told by a rep earlier that the maker of the NOOK e-reader would not be in collaboration with Microsoft.
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Related EntitiesStandard & Poor's, Crude Oil, Notable ETF Movers, NAHB Housing Market Index
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