Notable ETF Movers of the Day 08/09: (XLF) (SPY) (XLK) Higher; (VXX) (SLV) (ITB) Lower

Gainers

• Financial Select Sector SPDR (NYSE: XLF) up 3.36 percent to $12.56. Both Citi (NYSE: C) and Bank of America (NYSE: BAC) are rebounding nicely following a massive sell-off yesterday. Citi is up about 10 percent on the session, while BofA is 6.8 percent higher today. BofA closed just over 20 percent lower yesterday as markets continued lower from last Friday.
  
  
• SPDR S&P 500 (NYSE: SPY) up 1.80 percent to $114.28. Markets are rebounding as speculation surrounds whether the Fed will act to curb fears that another U.S. recession will hit. The Nasdaq and S&P are up about 2 percent today, while the Dow is about 1.2 percent better. An FOMC statement is expected out at 2:15pm EDT today.
  
  
• Technology Select Sector SPDR (NYSE: XLK) up 2.09 percent to $23.44. The tech ETF is higher today, as Apple (Nasdaq: AAPL) approaches overtaking Exxon Mobil (NYSE: XOM) as the largest U.S. company by market cap. Apple is leading the sector higher today, following yesterday's drop, up just over 4 percent on the session.

Receders

• iPath S&P 500 VIX Short-Term Futures ETN (NYSE: VXX) down 5.15 percent to $32.99. As market fears ease, the CBOE VIX volatility index is receding from its recent surge. The VIX is about 13 percent lower today. The index surpassed $45 yesterday, but was still far off of the $80+ range it reached in 2009 during the financial meltdown.
  
  
• iShares Silver Trust (NYSE: SLV) down 3.13 percent to $36.78. Silver is selling today on some profit taking by investors. Though silver didn't see a massive gain yesterday, the metal is still trading near all-time highs. The commodity is $1.66 lower to $37.72 per ounce on the Comex.
  
  
• iShares Dow Jones US Home Construction (NYSE: ITB) down 0.53 percent to $9.43. Could be reacting to Beazer Homes (NYSE: BZH) today, which recorded a wider-than-expected loss as home closings fell 49 percent from the same period last year. Beazer is down just over 1 percent on the session.

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