Notable ETF Movers of the Day 04/02: (GLD) (USO) Higher; (VXX) (UNG) Lower
Gainers
- SPDR Gold Shares (NYSE: GLD) up 0.78 percent to $163.38. Gold moving as traders exit the U.S. dollar following a better than expected ISM reading and amid higher unemployment numbers.
The ISM Index for March came in at 53.4, versus 52.4 in February and expectations for 53.0.
Earlier, data from the EU showed a 0.1 point increase in unemployment to 10.8 percent in February, from 10.7 percent in January.
Weaker dollars lead to cheaper gold contracts.
- United States Oil (NYSE: USO) up 1.50 percent to $39.82. Crude May contracts are up $1.29 to $104.31 per barrel on the Comex following the ISM numbers. In addition, China's PMI rose from 51.0 in February to 53.1 last month, according to data from the National Bureau of Statistics, sending a signal for a possible increase in demand.
- iPath S&P 500 VIX Short-Term Futures ETN (NYSE: VXX) down 3.21 percent to $16.24. The CBOE VIX near-term index is lower as investors buy back in on economic data.
- United States Natural Gas (NYSE: UNG) down 0.50 percent to $15.84. Nat gas continues lower as warmer weather approaches. With stores still at record highs, prices fell 19 percent through the month of March, their highest drop since August 2010.
Front month contracts are off about $.019 to $2.107 per mmBtu.
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