Notable ETF Movers of the Day 01/11: (UNG) Higher; (KOL) (KRE) Lower
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Gainers:
United States Natural Gas ETF (NYSE: UNG) gained 4.4 percent to 18.75. Natural gas futures prices pared losses and will likely finish the week flat. The reversal began on Thursday following a larger than expected inventory drop of 201 bcf. This was larger than forecasts for a decline of 191 bcf and was the biggest weekly decline in nearly two years. Nat-gas bulls received more good news on Friday when temperature forecasts were lowered. Forecasters now expect below normal temperatures in the US.
Decliners:
Market Vectors Coal ETF (NYSE: KOL) declined 2.3 percent to 25.5. Peabody Energy Corp. (NYSE: BTU) led the sector lower, falling 5 percent. Weakness rippled throughout the sector affects shares of CONSOL Energy Inc. (NYSE: CNX), Arch Coal Inc. (NYSE: ACI), and others.
SPDR S&P Regional Banking ETF (NYSE: KRE) declined 1.15 percent to 28.9. Weakness was felt across the board and moved Fifth Third Bancorp (Nasaq: FITB) and First Horizon National Corporation (NYSE: FHN) lower. The sell-off came following Wells Fargo's (NYSE: WFC) weak Q4 earnings report. Larger banks were also affected. Financial Select Sector SPDR (NYSE: XLF) declined by 0.6 percent.
United States Natural Gas ETF (NYSE: UNG) gained 4.4 percent to 18.75. Natural gas futures prices pared losses and will likely finish the week flat. The reversal began on Thursday following a larger than expected inventory drop of 201 bcf. This was larger than forecasts for a decline of 191 bcf and was the biggest weekly decline in nearly two years. Nat-gas bulls received more good news on Friday when temperature forecasts were lowered. Forecasters now expect below normal temperatures in the US.
Decliners:
Market Vectors Coal ETF (NYSE: KOL) declined 2.3 percent to 25.5. Peabody Energy Corp. (NYSE: BTU) led the sector lower, falling 5 percent. Weakness rippled throughout the sector affects shares of CONSOL Energy Inc. (NYSE: CNX), Arch Coal Inc. (NYSE: ACI), and others.
SPDR S&P Regional Banking ETF (NYSE: KRE) declined 1.15 percent to 28.9. Weakness was felt across the board and moved Fifth Third Bancorp (Nasaq: FITB) and First Horizon National Corporation (NYSE: FHN) lower. The sell-off came following Wells Fargo's (NYSE: WFC) weak Q4 earnings report. Larger banks were also affected. Financial Select Sector SPDR (NYSE: XLF) declined by 0.6 percent.
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