Notable ETF Movers of the Day 09/11: (XOP) (TAN) Higher; (UUP) Lower
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Gainers:
SPDR S&P Oil & Gas Exploration & Prod ETF (NYSE: XOP) is higher by 1.80 percent to 56.15. McMoRan Exploration Co. (NYSE: MMR), which has a 2 percent weighting in XOP, is higher by 2.37 percent. McMoRan Exploration Co. is an independent public company engaged in the exploration, development and production of natural gas and oil in the Gulf Coast area. It is moving higher today in part because of a spike in natural gas prices. This week's inventory report is expected to show a below average buildup in nat-gas inventory.
Guggenheim Solar ETF (NYSE: TAN) is higher by 2.51 percent to 17.49. Shares of First Solar (Nasdaq: FSLR) jumped 5 percent on news that it signed power purchase agreements with Pacific Gas and Electric Company (NYSE: PCG) for 72 megawatts AC of solar electricity to be generated at two photovoltaic power plants that First Solar is developing in central California.
Decliners:
PowerShares DB US Dollar Index Bullish (NYSE: UUP) declined 0.72 percent to 21.92. The U.S. dollar index continues to decline in anticipation of quantitative easing by the Fed. The U.S. dollar has fallen steadily since late July and is now below 80. Investors expect the Fed to announce additional stimulus measures when the central bank announces its policy decision after a two-day meeting on Thursday.
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SPDR S&P Oil & Gas Exploration & Prod ETF (NYSE: XOP) is higher by 1.80 percent to 56.15. McMoRan Exploration Co. (NYSE: MMR), which has a 2 percent weighting in XOP, is higher by 2.37 percent. McMoRan Exploration Co. is an independent public company engaged in the exploration, development and production of natural gas and oil in the Gulf Coast area. It is moving higher today in part because of a spike in natural gas prices. This week's inventory report is expected to show a below average buildup in nat-gas inventory.
Guggenheim Solar ETF (NYSE: TAN) is higher by 2.51 percent to 17.49. Shares of First Solar (Nasdaq: FSLR) jumped 5 percent on news that it signed power purchase agreements with Pacific Gas and Electric Company (NYSE: PCG) for 72 megawatts AC of solar electricity to be generated at two photovoltaic power plants that First Solar is developing in central California.
Decliners:
PowerShares DB US Dollar Index Bullish (NYSE: UUP) declined 0.72 percent to 21.92. The U.S. dollar index continues to decline in anticipation of quantitative easing by the Fed. The U.S. dollar has fallen steadily since late July and is now below 80. Investors expect the Fed to announce additional stimulus measures when the central bank announces its policy decision after a two-day meeting on Thursday.
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