Notable ETF Movers of the Day 08/29: (XHB) Higher; (TAN) (GDX) Lower

August 29, 2012 3:44 PM EDT
Markets are mostly flat intraday on Wednesday and major indexes are trading in a very tight range. SPDR S&P 500 (NYSE: SPY) is higher by 0.20 percent to 141.66


SPDR S&P Homebuilders (NYSE: XHB) is higher by 0.70 percent to 23.49. The gain was fueled by a jump in pending home sales. The National Association of Realtors said Wednesday that its index of sales agreements for previously occupied homes jumped 2.4 percent in July to 101.7, higher than June's 99.3 reading. It's also the highest reading since April 2010.


Guggenheim Solar (NYSE: TAN) is lower by 1.88 to $17.55. Yingli Green Energy (NYSE: YGE) reported earnings that were worse than analyst estimates. The company also said that it would ship less PV models than previously estimated (an increase of approximately 33 percent compared to previous guidance of more than 50 percent). A number of other solar companies, including First Solar (Nasdaq: FSLR), are trading lower in sympathy with YGE.

Market Vectors Gold Miners ETF (NYSE: GDX) is lower by 1.07 percent to 46.35. Miners are being hit as traders reposition ahead of Bernanke’s Jackson Hole speech later this week. Some investors fear the speech will disappoint, sending gold and gold miners lower.

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