Notable ETF Movers 1/20: UUP, KBE Up; SPY, SLV, FXI Down
StreetInsider.com Notable ETF Movers:
HIGHER;
LOWER:
HIGHER;
- PowerShares DB US Dollar Index Bullish (NYSE: UUP) up 1.18% to $23.11. As signals out of China indicate that the government is trying to put the brakes on economic growth after an 80% gain in the Shanghai Index last year, investors are turning to the U.S. dollar for more stability. Additionally, fears over Greece's debt rises as the country is exploring all borrowing options means that the Euro is taking somewhat of a hit.
- SPDR KBW Bank (NYSE: KBE) up 0.47% to $23.51. Bank shares are higher this morning despite mixed Q409 earnings reports out of many. Results were near or at analyst expectations, but continuing concerns over loan charge-offs and consumer credit fuels concern.
LOWER:
- SPDRs (NYSE: SPY) down 1.64% to $113.17. In an unusually large move downward, the S&P 500 is down 192.56 points, a 1.8% decline. Banking results [see above] are creating unease in the market as future financial concerns are still up in the air. Additionally, lending restrictions in China to curb economic growth is adding to concerns, as well as lower-than-expected housing starts.
- iShares Silver Trust (NYSE: SLV) down 5.04% to $17.52. Silver [and gold, for that matter] is seeing a pinch on a stronger dollar and investor uncertainty in the market for 2010 so far.
- iShares FTSE/Xinhua China 25 Index (NYSE: FXI) down 4.19% to $40.98. Again, the tightening of China's monetary policy is sparking on news that the China Banking Regulatory Commission has supposedly requested that several large Chinese banks stop making loans.
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