Notable ETF Movers of the Day 09/02: SPY, XRT, GLD Higher; VXX, USO, UUP Lower
Gainers
- SPDR S&P 500 (NYSE: SPY) up 0.49% to $108.99. Indexes are higher today as initial jobless claims came in below expectations, 472K versus the consensus of 475K. Continuing claims topped views, but were down month-over-month. PowerShares QQQ (Nasdaq: QQQQ) is trading 0.54% higher as well today.
- SPDR S&P Retail (NYSE: XRT) up 2.03%to $38.12. The beginning of the month brings up retail sales numbers. Many retailers reported having a rather solid August, with companies like Family Dollar (NYSE: FDO), Macy's (NYSE: M), Abercrombie (NYSE: ANF), and TJX Co.'s (NYSE: TJX) all reporting an increase in comparable-store sales.
- SPDR Gold Shares (NYSE: GLD) up 0.56% to $122.37. Shares of the gold ETF are tracking price movements by the commodity, as prices are nearing record all-time highs once again. December contracts are $5.3 higher to $1253.4/ounce on the COMEX, with GLD increasing its holdings in gold from 1320.44 tons in June to 1304.03 as of yesterday.
Receders
- iPath S&P 500 VIX Short-Term Futures ETN (NYSE: VXX) down 1.70% to $20.28. The CBOE VIX is trading 2.22% lower today as investors may be moving into the safe-haven to protect their gains as markets continue to correct themselves.
- United States Oil (NYSE: USO) down 0.55% to $32.77. Mixed economic data is having investors guessing which way the economy is heading, as jobless claims are outweighed by a surprise pop in pending U.S. home sales. Jobless claims came in under the consensus, as mentioned above, and pending home sales increased 5.2%, compared to the consensus of 0.0% and a drop of 2.8% for July.
- PowerShares DB US Dollar Index Bullish (NYSE: UUP) down 0.08% to $23.91. Some may be moving into the markets today, ahead of the nonfarm payroll report for August tomorrow morning, before the market opens. Jobless claims today, lower than expected, may have investors believe that a dip will ride the wave into tomorrow’s numbers. Payrolls are expected to come in with a 120,000 drop, though the unemployment rate is expected to come in 0.1% up to 9.6%, from 9.5% in July.
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