Notable ETF Movers of the Day 06/26: (UUP) (FXI) (UNG) Higher; (GLD) (TAN) Lower
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- Large Cut from OPEC Would Be 'Self-Negating', Says Goldman Sachs
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- PowerShares DB US Dollar Index Bullish (NYSE: UUP) up 0.09 percent to $22.74. The euro is down 0.3 percent to $1.2463 Tuesday ahead of the EU summit on Thursday, following Moody's cutting its outlook on 28 Spanish banks as well as Cyprus requesting aid from the EU, citing Greece contagion.
Traders largely believe nothing new will happen at the summit, with markets continuing to price in that notion.
- iShares FTSE China 25 Index Fund (NYSE: FXI) up 0.96 percent to $32.13. China stocks higher as the Ministry of Commerce said actual use of foreign capital in June ticked-higher to $9.2 billion, which was on par with strong numbers in May.
- United States Natural Gas (NYSE: UNG) up 0.54 percent to $18.57. Nat gas traders still evaluating stoppage in production and its impacts on prices following tropical storm Debby.
Futures appear to be just about flat on the session Tuesday.
- SPDR Gold Shares (NYSE: GLD) down 0.84 percent to $152.47. Gold lower as the dollar is stronger today ahead of the EU summit later this week and amid a slew of data out of the area on Monday. The stronger dollar makes gold contracts outside the currency more expensive.
- Guggenheim Solar (NYSE: TAN) down 2.88 percent to $17.86. The segment being led lower by LDK Solar Co., Ltd. (NYSE: LDK), which missed first-quarter numbers earlier and issued light sales guidance for its second-quarter and fiscal 2012.
In addition, Goldman Sachs cut its price target on Suntech Power (NYSE: STP), from $1.20 down to 80 cents.
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