Notable ETF Movers 1/22: UNG, GDX, XLB Up; USO, XLF, EWT Lower
StreetInsider.com Notable ETF Movers:
HIGHER;
LOWER:
HIGHER;
- United States Natural Gas (NYSE: UNG) up 3.47% to $10.43. Still riding the benefits of reserves being used more than anticipated.
- Market Vectors Gold Miners ETF (NYSE: GDX) up 1.49% to $44.40. Gold and silver are making an upturn as fears of banking regulation are driving investors from the U.S. dollar into more tangible investments. The PowerShares DB US Dollar Index Bullish (NYSE: UUP) is also trading lower today, down 0.35% to $23.04.
- Materials Select Sector SPDR (NYSE: XLB) up 0.53% to $32.44. The materials are fighting a downgrade today by Goldman Sachs. Goldman cites Chinese increasing restrictions as a reason for the downgrade and glum outlook.
LOWER:
- United States Oil (NYSE: USO) trading 1.15% lower to $36.81. As the U.S. economy is showing less stabilization than previously thought, traders see demand for oil tapering slightly leading to a drop in futures prices. WTI futures are trading down about 1.25% to $75.13. The bankng news is overshadowing a decline in oil reserves as well.
- Financial Select Sector SPDR (NYSE: XLF) down 1.57% to $14.43. Financials are feeling a little pressure still following comments made by President Obama about banking institutions not being able to use their own proprietary trading systems for corporate profit not tied to customer accounts.
- iShares MSCI Taiwan Index (NYSE: EWT) down 1.97% to $12.47. Confidence in the Taiwan market is waning as the central bank said that they were going to meet with foreign traders to discuss New Taiwan dollar-forwards.
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