Notable ETF Movers of the Day 06/21: (XOP) (XME) (SPY) Higher; (VXX) (UUP) (SGG) Lower

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June 21, 2011 12:01 PM EDT

Gainers

SPDR S&P Oil & Gas Exploration & Prod (NYSE: XOP) up 3.51 percent to $56.63. The ETF is led today by Holly Corporation (NYSE: HOC) and Frontier Oil Corp. (NYSE: FTO), which have settled shareholder lawsuits. Holly and Frontier agreed to a $2.85 billion merger in February, and both are trading over 3.5 percent stronger today.
SPDR S&P Metals & Mining (NYSE: XME) up 3.15 percent to $65.46. Miners are gaining today, following reports that China's coal imports have hit a four-month high of 13.6 million metric tons, a 22 percent jump from May to April. Further, Market Vectors Coal ETF (NYSE: KOL) is up 3.2 percent on the session.
SPDR S&P 500 (NYSE: SPY) up 1.29 percent to $129.35. Markets are moving higher overall on the prospect that a confidence vote in Greece later on in the day will reassure investors that the country will push through budget cuts, which were required by European agencies in order to gain access to bailout funds. Markets have been tepid lately on speculation that issues in Greece will ripple though the rest of Europe, with Portugal, Italy, and Ireland, among others, who have already shown weakness following the 2008 - 09 global financial meltdown and subsequent shakeout.

Receders

iPath S&P 500 VIX Short-Term Futures ETN (NYSE: VXX) down 5.31 percent to $22.84. The CBOE VIX is lower today as U.S. markets are drawing the confidence of investors upon prospects for Greece. The near-term VIX is down 9.4 percent on the session.
PowerShares DB US Dollar Index Bullish (NYSE: UUP) down 0.61 percent to $21.32. The U.S. dollar is lower ahead of the Fed's two-day policy meeting. Greek confidence is boosting the euro, and existing home sales numbers are adding pressure to the dollar. Bloomberg expects the FOMC rate to remain low, at zero to 0.25 percent, which will be announced tomorrow afternoon.
iPath DJ-UBS Sugar TR Sub-Idx ETN (NYSE: SGG) down 1.43 percent ti $87.14. Sugar is lower as Indian Agriculture Minister Sharad Pawar wrote to India's Prime Minister urging the increased exportation of the commodity, stating that India has just one-month to cash in on higher global prices. India exported about 5 million tons of the sweet stuff in April.

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