ETF Midday Check: UUP Higher; USO, XLE, SMH, SLV/GLD Lower
StreetInsider.com Notable ETF Movers:
HIGHER;
- PowerShares DB US Dollar Index Bullish (NYSE: UUP) rising, up 1.16 to $22.74, on lower than expected initial jobless claims.
- United States Oil Fund LP (NYSE: USO) down about 2.64% to $39.48. News that crude oil inventories gained by 1.76 million barrels, showing a wider gap between supply and demand.
- Energy Select Sector SPDR (NYSE: XLE) also down 1.84% to $57.12. The fund is reacting on the crude inventory data, as many of its holdings are oil related (XOM, COP, OXY, HAL, and more).
- Semiconductor HOLDRs (NYSE: SMH) relatively flat after an early-market spike on news that AMD settled with Intel to the tune of $1.25 billion. The ETF is currently trading at $25.76, down about 0.08%. AMD is only a 1% holding in this ETF.
- iShares Silver Trust (NYSE: SLV) down 1.85% to $16.97 and SPDR Gold Shares (NYSE: GLD) down 0.86% to $108.66, are both reacting to a stronger dollar and lower futures.
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