Notable ETF Movers of the Day 08/08: (VXX) (GLD) (UUP) Higher; (SPY) (USO) (XLF) Lower
- Celator Pharma (CPXX) Near Deal to be Acquired by Jazz Pharma (JAZZ) - WSJ
- Top 10 News for 5/23 - 5/27: Computer Sciences to Acquire Key Enterprise Asset; Bayer Makes Run at Monsanto; Twitter has 'Character' Change
- Wall Street puts finishing touch on best week since March
- Intercept Pharma (ICPT) Granted Accelerated FDA Approval of Ocaliva in PBC
- Marketo (MKTO) Deal Talk to Force Microsoft's (MSFT) Big Wallet Into Action
- iPath S&P 500 VIX Short-Term Futures ETN (NYSE: VXX) up 11.15 percent to $33.69. As U.S. markets tumble, volatility is extremely high. The CBOE VIX is up over 23 percent on the session.
- SPDR Gold Shares (NYSE: GLD) up 2.39 percent to $165.61. Gold has hit another all-time high, at $1,718.20 per ounce, as investors flock to the precious metal in a safe haven against market volatility.
- PowerShares DB US Dollar Index Bullish (NYSE: UUP) up 0.19 percent to $21.26. Along with gold, investors are more risk-adverse today following S&P's downgrade of U.S. debt from AAA to AA+. The U.S. dollar is gaining versus many competitors, with the EUR/USD trading down 0.7 percent to €1.4193/$.
- SPDR S&P 500 (NYSE: SPY) down 2.65 percent to $116.90. Markets are falling today following the downgrade of the U.S. by S&P over the weekend. Though the move was largely anticipated, it's long-term impact on market activity is lesser known, which is what many are trying to figure out. Also, SPDR Dow Jones Industrial Average (NYSE: DIA) is down 2.06 percent to $111.86, and PowerShares QQQ (Nasdaq: QQQ) is off 2.55 percent to $52.47.
- United States Oil (NYSE: USO) down 3.53 percent to $32.75. Crude September contracts are down $2.91 to $83.97 per barrel on the Comex following the downgrade of U.S. debt. Further, the U.S. dollar, as mentioned above, is holding it's own today, making crude contracts more expensive for buyers. The WSJ noted that prices are at their lowest levels in about nine months.
- Financial Select Sector SPDR (NYSE: XLF) down 4.47 percent to $12.83. The ETF hit a 52-week low of $12.78 on the session as financials appear to be one of the weakest sectors Monday. Bank of America (NYSE: BAC) is down just over 14 percent on the session, hitting support (for now) at the $7 price level.
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