Notable ETF Movers of the Day 12/18: (OIH) (SMH) Higher; (GLD) Lower

December 18, 2012 1:29 PM EST

Market Vectors Oil Services ETF (NYSE: OIH) gained 3 percent to 39.47. Oil services experienced strength across the board, with notable gains in shares of ConocoPhillips (NYSE: COP). Today COP announced the sale of its Algerian unit for $1.75 billion. In other news, Baker Hughes (NYSE: BHI) warned of soft margins in Q4. The outlook was largely expected, and investors looked past the headlines toward improvements going forward.

Market Vectors Semiconductor ETF (NYSE: SMH) gained 1.50 percent to 33.15. The move higher in semis is tied to fiscal cliff hopes. If expectations pan out, it could mean corporate spending will rebound, and that is good news for a sector that has experience more than its fair share of pain this year. Of note, Broadcom Corp. (Nasdaq: BRCM) gained 3.4 percent. Meanwhile, Technology Select Sector SPDR (NYSE: XLK) rose by 1.2 percent, led by Apple (Nasdaq: AAPL), chip makers Intel (Nasdaq: INTC) and QUALCOMM Incorporated (Nasdaq: QCOM), and Microsoft (Nasdaq: MSFT).


SPDR Gold Shares (NYSE: GLD) declined 1.5 percent to 162. While a resolution to the fiscal cliff stalemate is good for business, it may not be as good for precious metals bulls, who in many ways are betting on fiscal irresponsibility in the U.S. – normally considered a safe bet. Today, not so much. Like GLD, iShares Silver Trust ETF (NYSE: SLV) traded lower, shedding 1.9 percent.

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