Notable ETF Movers of the Day 11/09: XOP, MOO, GLD Higher; XLF, FXI Lower

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November 9, 2010 11:30 AM EST

Gainers

SPDR S&P Oil & Gas Exploration (NYSE: XOP) up 2.38% to $1.12. Certainly seeing some upside as Chevron (NYSE: CVX) and Atlas Energy (Nasdaq: ATLS) entered into an agreement whereby Chevron will acquire Atlas for a consideration totaling $3.2 billion, net of debt.
Market Vectors Agribusiness ETF (NYSE: MOO) up 1.29% to $52.67. Moving higher today as the USDA cut their estimates of U.S. corn and soybean production, but increased their export outlook. The tightened outlook sent commodity futures higher, led by cotton, corn, and wheat.
SPDR Gold Shares (NYSE: GLD) up 0.70% to $138.74. Gold is moving higher today as Euro debt worries, as well as U.S. currency concerns, have investors choosing the metal as a hedge against fluctuations ahead of the G20 meeting starting Thursday. Irish and Portugese yield spreads have also rose to record highs.

Receders

Financial Select Sector SPDR (NYSE: XLF) down 0.58% to $15.37. Though mixed today, a little concern has been introduced into the sector following Ambac Financial's (NYSE: ABK) filing for relief under Chapter 11 of the U.S. Bankruptcy Code. Shares of ABK are down 55.7% today.
iShares FTSE/Xinhua China 25 Index (NYSE: FXI) down 1.17% to $47.36. Markets lower as China's government is putting clamps on hot money entering the system, by tightening foreign debt quotas following QE2 in the U.S.

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