Notable ETF Movers of the Day 12/03: (XLK) Higher; (XLB) (IYT) Lower
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Gainers:
Technology Select Sector SPDR (NYSE: XLK) eked out a gain of 0.2 percent, with shares of Dell (Nasdaq: DELL) popping on a two notch upgrade from analysts at Goldman Sachs. The analyst said bad pc sales were baked-in and suggested a positive turn in sentiment in 2013.
Decliners:
Materials Select Sector SPDR (NYSE: XLB) declined 0.8 percent. The decline is tied to today’s weaker than expected November ISM manufacturing report in the U.S. The report showed a reading of 49.5 compared 51.4 expected. This was partially offset by relatively strong data out of China, with PMI coming in at 50.5, its first positive reading in 13 months. Newmont Mining Corp. (NEM) was among today’s losers, declining 1.7 percent.
iShares Dow Jones Transportation Average (NYSE: IYT) was lower by 0.8 percent. This also appears tied to the negative ISM print. Shares of FedEx Corporation (NYSE: FDX) and United Parcel Service (NYSE: UPS) traded lower on the news.
Technology Select Sector SPDR (NYSE: XLK) eked out a gain of 0.2 percent, with shares of Dell (Nasdaq: DELL) popping on a two notch upgrade from analysts at Goldman Sachs. The analyst said bad pc sales were baked-in and suggested a positive turn in sentiment in 2013.
Decliners:
Materials Select Sector SPDR (NYSE: XLB) declined 0.8 percent. The decline is tied to today’s weaker than expected November ISM manufacturing report in the U.S. The report showed a reading of 49.5 compared 51.4 expected. This was partially offset by relatively strong data out of China, with PMI coming in at 50.5, its first positive reading in 13 months. Newmont Mining Corp. (NEM) was among today’s losers, declining 1.7 percent.
iShares Dow Jones Transportation Average (NYSE: IYT) was lower by 0.8 percent. This also appears tied to the negative ISM print. Shares of FedEx Corporation (NYSE: FDX) and United Parcel Service (NYSE: UPS) traded lower on the news.
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