Notable ETF Movers of the Day 08/30: (SPY) (GDX) (GLD) (SMH) (FXE) Higher; (UUP) Lower
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Market moved higher on Friday, as Fed Chairman Ben Bernanke left the door open for QE3. Without offering clear signals about the timing of Fed action, the Chairman reiterated his concerns about the stagnant labor market. Any decision on easing is likely to be data dependent. Intraday, SPDR S&P 500 (NYSE: SPY) is higher by 0.33 percent.
Gainers:
Market Vectors Gold Miners ETF (NYSE: GDX) moved higher by 2.4 percent to 47.13 as spot gold spiked following Bernanke’s comments. Gold made fresh highs and is currently trading at $1680 per ounce. SPDR Gold Shares (NYSE: GLD) is higher by 1.5 percent to 163.
Market Vectors Semiconductor ETF (NYSE: SMH) gained 1.4 percent to 32.9. The world’s largest chip maker, Intel Corporation (Nasdaq: INTC) climbed by 2.3 percent. Today’s advance reverses 5-day losses in the stock. Intel is trading flat on the week.
Decliners:
PowerShares DB US Dollar Index Bullish (NYSE: UUP) declined by 0.53 percent to 22.32. Since July 24th, the U.S. dollar index has declined from a high of 84 to low of 81, which was tapped today. The decline is related to expectations of Fed easing and stabilization in Europe. CurrencyShares Euro Trust (NYSE: FXE), which tracks the Euro vs. the USD is higher by 0.5 percent today, inverse the decline in the dollar index.
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Gainers:
Market Vectors Gold Miners ETF (NYSE: GDX) moved higher by 2.4 percent to 47.13 as spot gold spiked following Bernanke’s comments. Gold made fresh highs and is currently trading at $1680 per ounce. SPDR Gold Shares (NYSE: GLD) is higher by 1.5 percent to 163.
Market Vectors Semiconductor ETF (NYSE: SMH) gained 1.4 percent to 32.9. The world’s largest chip maker, Intel Corporation (Nasdaq: INTC) climbed by 2.3 percent. Today’s advance reverses 5-day losses in the stock. Intel is trading flat on the week.
Decliners:
PowerShares DB US Dollar Index Bullish (NYSE: UUP) declined by 0.53 percent to 22.32. Since July 24th, the U.S. dollar index has declined from a high of 84 to low of 81, which was tapped today. The decline is related to expectations of Fed easing and stabilization in Europe. CurrencyShares Euro Trust (NYSE: FXE), which tracks the Euro vs. the USD is higher by 0.5 percent today, inverse the decline in the dollar index.
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