Notable ETF Movers of the Day 10/17: (XHB) (XME) Higher; (XLK) Lower

October 17, 2012 12:54 PM EDT Send to a Friend
Gainers:

SPDR S&P Homebuilders (NYSE: XHB) gained 32.7percent to 26. Economic data, including housing starts and building permits, showed large gains in September, fueling bullish sentiment for homebuilder stocks. Building permits rose 15 percent, outpacing expectations.

SPDR S&P Metals & Mining (NYSE: XME) gained 2 percent to 46.60. Shares of AK steel (NYSE: AKS) jumped 3.75 percent ahead of China Q3 GDP data tomorrow. Economists are projecting a decline to 7.4 percent year-over-year. If this proves to be correct, it may force China’s government to take additional steps to stimulate the economy.

Decliners:

Technology Select Sector SPDR (NYSE: XLK) declined 0.4 percent to 30.3 XLK’s decline comes in response to two significant earnings reports yesterday by giants Intel (Nasdaq: INTC) and IBM (NYSE: IBM). Both stocks are trading lower today.


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