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Notable ETF Movers of the Day 09/08: XLF, USO, OIH Higher; SMH, VXX, UNG Lower

September 8, 2010 12:18 PM EDT
Gainers

  • Financial Select Sector SPDR (NYSE: XLF) up 1.45% to $14.39. Banks are making a recovery after the sector led the markets lower yesterday. Euro bank fears resurfaced, but the ECB's commitment for liquidity in the banks kept fears in check.

  • United States Oil (NYSE: USO) up 1.37% to $33.22. October oil contracts are about $0.44/barrel higher today, to $74.53/barrel. Contract prices have been on a modest decline since the beginning of September, mostly on economic concerns and inventory stockpiles. Investors are looking for the EIA to report that crude inventories increased by 300,000 barrels for the week ended September 3, 2010.

  • Oil Services HOLDRs (NYSE: OIH) up 1.46% to $104.18. Shares higher today as BP Plc. (NYSE: BP) released a report that spread the blame for the Gulf of Mexico oil spill around, saying that there was "no single factor" in the spill.


Receders

  • Semiconductor HOLDRs (NYSE: SMH) down 0.75% to $25.12. Although there is some rebound out of a few stocks today following a selloff in the tech sector yesterday, shares are still seeing weakness today after an analyst at UBS downgraded Intel (Nasdaq: INTC) today from Buy to Neutral on the slowing PC market.

  • iPath S&P 500 VIX Short-Term Futures ETN (NYSE: VXX) down 2.04% to $19.20. Stock markets are continuing their moderate rally today after receding yesterday over renewed debt and banking concerns in Europe yesterday. Today, headlines are reporting that Ireland's government is fixing to split Anglo Irish Bank (NYSE: AIB) into two banks; one would be a "funding bank" and the other branch would be an "asset recovery bank." The CBOE VIX is trading 2.86% lower in the early afternoon session.

  • United States Natural Gas (NYSE: UNG) down 0.15% to $6.45. Trading just negative today as traders are weighing forecasts versus inventories over the next week. Forecasts are calling for more milder temps in the Northeast and Midwest U.S., while nat gas stores are currently 5.8% above the five-year average. October contracts are trading slightly higher today, up $0.002 to $3.854/mmBtu.


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