Notable ETF Movers of the Day 09/13: (UNG) (GLD) (XLF) Higher; (EWT) (XLE) (UUP) Lower
Gainers
Receders
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- United States Natural Gas (NYSE: UNG) up 2.34 percent to $10.07. Nat gas is trading $0.117 higher to $4.002 per mmBtu on the Comex, despite expectations that weather is expected to moderate across much of the Midwest and Eastern U.S. over the next week.
- SPDR Gold Shares (NYSE: GLD) up 0.54 percent to $177.63. Gold is up $11.9 to $1825.2 per ounce on the Comex, as investors see renewed value in the metal upon European debt worries. It was rumored that Italy was going to sell sovereign bonds to China, but one Italian rep today said the country hasn't asked for help yet.
- Financial Select Sector SPDR (NYSE: XLF) up 0.32 percent to $12.41. The ETF being led higher by J.P. Morgan (NYSE: JPM) Tuesday, which is trading 1.3 percent into positive territory. Stifel Nicolaus upgraded shares from Hold to Buy. Also, J.P. Morgan was said to be investing $400 million in India's Skil Infrastructure.
Receders
- iShares MSCI Taiwan Index (NYSE: EWT) down 2.09 percent to $12.86. Taiwan stocks took a hit as global concerns over debt and lax economic recovery playing in investors' minds. The Taiwan Stock Exchange closed 2.88 percent lower to 7391.37.
- Energy Select Sector SPDR (NYSE: XLE) down 0.61 percent to $64.80. Energy stocks lower today, as the International Energy Agency lowered its outlook for global growth in 2011 closer to 4 percent, citing government debt issues on the move. Much of the call focused on Organization of Economic Cooperation and Development (OECD) nations. Less economic activity generally leads to lower demand for oil and other energy sources.
- PowerShares DB US Dollar Index Bullish (NYSE: UUP) down 0.18 percent to $21.88. Might be a little pullback from recent strong dollar action. The ETF has closed higher in about 8 of the last nine sessions, as investors looked to the currency as an alternative to the euro and increasingly volatile markets. The EUR/USD is up 0.22 percent to €1.3691.
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