Notable ETF Movers for 11/16: USO, XLF, UNG, UUP
HIGHER;
- United States Oil Fund LP (NYSE: USO) up 3% to $40.29. Light sweet crude futures are trading about $2.63 higher on strong retail sales on and weaker dollar.
- Financial Select Sector SPDR (NYSE: XLF) up about 2% to $14.94. News that credit card defaults were down fueled the financial sector, though delinquencies are up.
- United States Natural Gas (NYSE: UNG) up 3.75% to $9.40. Predictions of below-normal cooler weather in the Mid-Atlantic and Great Lakes region are driving the price as speculators see a rise in demand for heating gas later in November into early December.
- PowerShares DB US Dollar Index Bullish (NYSE: UUP) down about 0.30% to $22.25 on a day where the U.S. dollar is weaker against foreign currency. Traders are selling the dollar on stronger retail sales results coupled with better business inventories.
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