Notable ETF Movers 12/09: XME, XLF, SLX Up; USO, MES, XRT Down
HIGHER;
LOWER:
- SPDR S&P Metals & Mining (NYSE: XME) up 1.81% to $48.28. Mining stocks benefitting from AK Steel Holding (NYSE: AKS) hiking prices today, citing stronger demand. Steel futures are also trading higher, January 2010 futures up $10 to $515, or about 2%.
- Financial Select Sector SPDR (NYSE: XLF) turning up this afternoon on lighter trading, marginally higher to $14.27, a gain of 0.07%. Financials are making a slight rebound as the TARP program has been extended through October 2010.
- Market Vectors Steel ETF (NYSE: SLX) up 0.93% to $58.36. Steel futures, as mentioned before, are getting a jump today as demand grows.
LOWER:
- United States Oil Fund LP (NYSE: USO) down 2.12% to $36.07. On the news from the Energy Information Administration of gasoline inventories building up to 2.2 million barrels, futures of WTI have dropped for a sixth straight session.
- Market Vectors Gulf States ETF (NYSE: MES) down 2.37% to $18.57. More concerns about debt in Dubai.
- SPDR S&P Retail (NYSE: XRT) down 1% to $34.40. Retail stocks got a little boost after wholesale inventory data was released, but not enough to push them into the green. Retail seasonal hires are still down year-over-year.
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