Notable ETF Movers of the Day 10/04: (XRT) (XLK) (TAN) Higher; (SPY) (GLD) (EWZ) Lower
Gainers
Receders
- SPDR S&P Retail (NYSE: XRT) up 1.08 percent to $44.92. The ETF is being pushed higher by Sears Holdings (Nasdaq: SHLD), which has all but defied the market over the last two sessions. As stocks were clobbered yesterday, Sears merely closed 0.5 percent lower. Today, Sears shares are hovering about 8 percent higher or more.
- Technology Select Sector SPDR (NYSE: XLK) up 0.09 percent to $23.09. The tech ETF isn't killing it today, but notable because the largest holding is Apple (Nasdaq: AAPL), and Apple is up nearly a percent ahead of the iPhone 5 unveiling. Also, Intel (Nasdaq: INTC) is up over 1 percent as it's McAfee unit announced a strategic acquisition today, and more M&S is being rumored for Intel to
- Guggenheim Solar (NYSE: TAN) up 2.03 percent to $3.02. The ETF is getting a little help from MEMC Electronic Materials (NYSE: WFR), which was upgraded from Netural to Buy by Gilford Securities today, it's price target set at $7.50.
Receders
- SPDR S&P 500 (NYSE: SPY) down 0.37 percent to $109.55. Markets are still teetering Tuesday, and Fed Chair Ben Bernanke is testifying in front of the Joint Economic Committee, saying the Fed has more ways to intervene in the economy.
- SPDR Gold Shares (NYSE: GLD) down 2.26 percent to $157.32. Gold is red today, as investors turn to cash on increased market concerns. U.S. markets are mixed, with the Dow Jones in negative territory, while Dow Jones and S&P 500 are in the green. Selling of the asset to cover losses several days ago has left investors a little cautious that the metal will become the first to go at signs of worry. Gold December contracts are $38.5 lower to $1,619.2 per ounce on the Comex.
- iShares MSCI Brazil Index (NYSE: EWZ) down 0.92 percent to $50.42. Brazilian stocks trading lower on prospect of a Greek default and mild global recession. Additionally, Goldman Sachs lowered it's GNP outlook on Brazil from 3.7 percent to 3.5 percent. The Bovespa is 0.9 percent lower Tuesday.
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