Notable ETF Movers of the Day 09/01: SPY, XRT, XLF Higher; VXX, UUP, GLD Lower
Gainers
- SPDR S&P 500 (NYSE: SPY) up 2.86% to $108.32. Markets are higher today as the ISM Index came in at 56.3, above the consensus of 52.9. Readings above 50 indicate expanding activity. PowerShares QQQ (Nasdaq: QQQQ) are also up today, about 3.3% in the early afternoon session. ADP numbers showing a cut of 10,000 jobs hasn't seemed to affect the market.
- SPDR S&P Retail (NYSE: XRT) up 3.76% to $37.26. Up on overall market strength, notably Casey's General Stores (Nasdaq: CASY) is stronger today as Alimentation Couche-Tard is now offering $38.50 per share for the company.
- Financial Select Sector SPDR (NYSE: XLF) up 3.14% to $13.98. Surging along with the broader market on some better-than-expected economic data as well as decent earnings reports out of some companies. Bank of America (NYSE: BAC) and Wells Fargo (NYSE: WFC) shareholders can breathe a sigh of relief, as those two companies are rebounding off of recent 52-week lows.
Receders
- iPath S&P 500 VIX Short-Term Futures ETN (NYSE: VXX) down 5.69% to $20.71. Lower today as investor ease concerns over an economic recovery on a better ISM Index number. The CBOE VIX is 5.95% lower today.
- PowerShares DB US Dollar Index Bullish (NYSE: UUP) down 0.83% to $23.92. The U.S. dollar is weaker against other currencies today as investors exit some of their safe-haven holdings on a rallying market arena.
- SPDR Gold Shares (NYSE: GLD) down 0.28% to $121.74. Gold is pulling back today after rallying to a two-month high as investors move back into securities markets on the rally.
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