Notable ETF Movers 1/7: XLF, XHB, ITB; FXI, SMH Lower
StreetInsider.com Notable ETF Movers:
HIGHER;
- Financial Select Sector SPDR (NYSE: XLF) at $15.17, a 1.2% rise. Bank of America (NYSE: BAC) gets an upgrade from Credit Suisse, and St. Louis Fed President James Bullard also made positive comments on the ability of the U.S. dollar to remain strong as inflation will remain low. Also Q4 earnings season for the banks is coming up in a few weeks.
- SPDR S&P Homebuilders (NYSE: XHB) up 3.68% to $16.08. The homebuilders ETF is en fuego as many retailers contained in the fund are showing some impressive retail results for December and overall holiday 2009 season. Homebuilder Lennar (NYSE: LEN) is up 12% after better than expected results today.
- iShares Dow Jones US Home Construction (NYSE: ITB) up 4.24% to $12.78. The ETF is benefiting from Lennar (NYSE: LEN) swinging to a quarterly profit, and sees first Y/Y increase in order since 2006.
LOWER:
- iShares FTSE/Xinhua China 25 Index (NYSE: FXI) 1.8% lower to $43.76. Shares on China's stock exchanges tumbled as fears of banks issuing more shares might dilute the marketplace. Rumors of the Chinese government also imposing a new property tax to ebb the rapid rise in housing prices brought real estate stocks down.
- Semiconductor HOLDRs (NYSE: SMH) down 1.35% to $27.80. Seeing a little sell off this week as the International CES show in Las Vegas kicks off. Bloomberg also had an article about Intel's potential fall from grace as smaller chipmakers are entering the market where the most growth potential lies...portable devices. Smartphones, eBooks, tablets, are all industries that Intel hasn't dabbled in.
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