Notable ETF Movers of the Day 06/22: (XLF) (UNG) (USO) Higher; (VXX) (SLV) Lower
- Top 10 News for 7/25 - 7/29: Earnings and Mergers and ... Chioptle Making Burgers?
- Tech shares and muted GDP growth push S&P 500 to record
- No clean bill of health for EU banks in stress test
- Private equity firms focused on Hewlett Packard asset sales: sources
- Tesla (TSLA) Gains as Panasonic Seeks to Raise $3.9B for Gigafactory
- Financial Select Sector SPDR (NYSE: XLF) up 0.53 percent to $14.28. Following the much-anticipated downgrade by ratings firm Moody's to large banks, investors are breathing a sigh of relief. Long-term senior debt ratings were cut on 15 banks in all, ranging from one to three notches.
Leading the sector higher is JPMorgan (NYSE: JPM), shares up 2.2 percent on the session Friday.
- United States Natural Gas (NYSE: UNG) up 2.35 percent to $18.30. Is it hot in here, or is it just natural gas? Traders are scooping up the commodity heading into the weekend, as sweltering heat should subside for most of the U.S. but a low-pressure storm may be forming near Mexico's Yucatan peninsula. The National Hurricane Center sees that activity as having a 70 percent change of forming a tropical storm.
- United States Oil (NYSE: USO) up 1.04 percent to $29.76. With crude prices at 8-month lows, some traders might be getting in as a speculative play. The combination of high stockpiles and production, along with lagging demand, is creating a "perfect storm" of sorts for prices to move lower. However, many key economic indicators, plus the ECB moving to ease collateral rules for banks, may be enough for contracts to see some upside on expectations of increased demand.
- iPath S&P 500 VIX Short-Term Futures ETN (NYSE: VXX) down 3.45 percent to $17.09. The CBOE VIX is about 6 percent lower as complacency returns to the marketplace Friday.
- iShares Silver Trust (NYSE: SLV) down 0.74 percent to $25.93. Despite gold also slipping, silver is lower following manufacturing data out of giants China and Germany. Due to the diversified nature of silver's use in both industries, the precious metal is more susceptible to manufacturing and economic data than its popular peer.
For June, China's HSBC Flash PMI fell to 48.1 from 48.4 last month. Data from Markit estimates that German manufacturing will shrink for the fourth month in June, falling to 44.7 from 45.2 in May.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Talend S.A (TLND) IPO Opens Up 54%
- NextEra Energy reaches definitive agreement to acquire Energy Future Holdings' interest in Oncor Electric Delivery Company
- Notable Analyst Rating Changes 7/29: (DOW) (CR) (TAP) Upgraded; (DE) (F) (MYGN) Downgraded
Create E-mail Alert Related CategoriesETFs, Special Reports
Related EntitiesJPMorgan, Citi, Bank of America, Standard & Poor's, HSBC, Crude Oil, Notable ETF Movers
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!