Notable ETF Movers of the Day 08/21: (GDX) (KOL) (XLF) Higher
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Market Vectors Gold Miners ETF (NYSE: GDX) is higher by 3.40 percent to 47.20. The pop for gold mining stocks is tied to a rally in the spot price of gold, which broke two and a half month highs above $1630 per ounce. Gold has been trading in a tight range for months, and trading in gold miners has been choppy with an upside bias. In the past 30 days, GDX has gained 13 percent.
Market Vectors Coal ETF (NYSE: KOL) is higher by 2.24 percent to 24.99. The rally was led by shares of Alpha Natural Resources, Inc. (NYSE: ANR) and Arch Coal Inc. (NYSE: ACI). Today analysts at Goldman Sachs reiterated their attractive view on the sector and this gave it a boost. In the past 30 days, Market Vectors Coal ETF is higher by 6.8 percent, but is still lower by more than 26 percent so far this year.
Financial Select Sector SPDR EFT (NYSE: XLF) is higher by 1.30 percent to 15.36. The move is led by the major banks, including Bank of America (NYSE: BAC), JPMorgan (NYSE: JPM), and Citigroup (NYSE: C). Major bank stocks are being buoyed by easing concerns over the crisis in the euro zone. Rumors this week said the ECB could cap rates on the debt of select countries in the region, although officials later issued statements making it clear that related talks had not yet taken place.
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Market Vectors Gold Miners ETF (NYSE: GDX) is higher by 3.40 percent to 47.20. The pop for gold mining stocks is tied to a rally in the spot price of gold, which broke two and a half month highs above $1630 per ounce. Gold has been trading in a tight range for months, and trading in gold miners has been choppy with an upside bias. In the past 30 days, GDX has gained 13 percent.
Market Vectors Coal ETF (NYSE: KOL) is higher by 2.24 percent to 24.99. The rally was led by shares of Alpha Natural Resources, Inc. (NYSE: ANR) and Arch Coal Inc. (NYSE: ACI). Today analysts at Goldman Sachs reiterated their attractive view on the sector and this gave it a boost. In the past 30 days, Market Vectors Coal ETF is higher by 6.8 percent, but is still lower by more than 26 percent so far this year.
Financial Select Sector SPDR EFT (NYSE: XLF) is higher by 1.30 percent to 15.36. The move is led by the major banks, including Bank of America (NYSE: BAC), JPMorgan (NYSE: JPM), and Citigroup (NYSE: C). Major bank stocks are being buoyed by easing concerns over the crisis in the euro zone. Rumors this week said the ECB could cap rates on the debt of select countries in the region, although officials later issued statements making it clear that related talks had not yet taken place.
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JPMorgan, Citi, Bank of America, Notable ETF Movers
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