Notable ETF Movers of the Day 09/09: (SMH) (UUP) (VXX) Higher; (USO) (XLF) (SPY) Lower
Gainers
Receders
- Semiconductor HOLDRs (NYSE: SMH) up 0.28 percent to $28.77. Texas Instruments (NYSE: TXN) is leading the ETF higher today, up 1.4 percent on Friday's session. This may be a surprise to some, considering TXN lowered it's third-quarter 2011 outlook after the market closed yesterday. However, many analysts have retained Buy ratings on the stock, click here for more color from analysts.
- PowerShares DB US Dollar Index Bullish (NYSE: UUP) up 1.11 percent to $21.89. The U.S. dollar is trading stronger Friday, following bullish signals, but nothing definitive, from Bernanke and Obama on further measures to create growth within the U.S. Obama specifically introduced a $450 billion jobs plan Thursday night, which was, or course, met with mixed reaction.
- iPath S&P 500 VIX Short-Term Futures ETN (NYSE: VXX) up 6.12 percent to $44.42. The CBOE VIX is trading 11 percent stronger Friday, as the European Central Bank's top economist, Juergen Stark, said he would resign his position. Stark was seen as an advocate of higher interest rates, according to the AP, and had opposed the bank's large purchases of debt from heavily debted member nations. Though it's only one position, resigning from such a position may indicate continuing disagreement withing the bank's walls, and uncertainty about the direction Europe may be taking to resolve debt issues.
Receders
- United States Oil (NYSE: USO) down 2.76 percent to $33.51. The stronger U.S. dollar today is making crude contracts -- which are denominated in dollars -- more expensive. With stagnant job growth, and a ho-hum reception for Obama's plan, demand for crude may still be at lows at least over the short term. Front-month contracts are $2.30 lower to $86.75 on the Comex, a 2.6 percent dip.
- Financial Select Sector SPDR (NYSE: XLF) down 3.17 percent to $12.23. Despite recent movement, no, the XLF is not a leveraged ETF. Citigroup, Inc. (NYSE: C), is leading the group lower, currently down over 4 percent.
- SPDR S&P 500 (NYSE: SPY) down 2.46 percent to $116.11. U.S. markets are slumping today, as European debt fears and lack of confidence in Bernanke and Obama speeches. Obama's speech was highlighted above, and Bernanke highlights can be found here.
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Ben S. Bernanke, Citi, Standard & Poor's, European Central Bank, Crude Oil, Barack Obama, Notable ETF MoversSign up for StreetInsider Free!
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