Notable ETF Movers of the Day 1/28: VXX, UUP Up; SPY, SMH, XME Down
Notable ETF Movers of the Day:
Gainers
- iPath S&P 500 VIX Short-Term Futures ETN (NYSE: VXX) up 2.42% to $31.75. The CBOE VIX, a measure of market volatility, is up 7.56% to 24.89.
- PowerShares DB US Dollar Index Bullish (NYSE: UUP) up 0.13% to $23.26. The U.S. dollar is benefiting from a spike in the cost of insuring Greece's debt. The concern is also spreading across Europe, causing investors to return to the more stable dollar.
Losers
- SPDRs (NYSE: SPY) down 1.55% to $108.13. The stock market is taking a little bit of a hit as durable orders came in with a gain of 0.3%, significantly lower than the Street estimate of 2%. It should also be noted that PowerShares QQQ (QQQQ), which track the NASDAQ-100, is also down 2.93% to $43.39 as the NASDAQ is 2.34% lower.
- Semiconductor HOLDRs (NYSE: SMH) 3.60% lower to $25.20. Semi's are introducing investor to a new weight loss program by lightening their pocketbooks. The sector is taking a haircut despite many earnings reports beating the Street, and upgrades aplenty.
- SPDR S&P Metals & Mining (NYSE: XME) down 3.02% to $47.56. Metals and Mining, whose companies include fan fav's like Alcoa (NYSE: AA) [down 3.83%], Consol Energy (NYSE: CNX) [down 2.9%], and Freeport-McMoRan (NYSE: FCX) [down 4.63% on big volume], is down, like the semi's, despite seeing some positive indicators for 2010. Auto's, who buy a ton of metal [literally], have seen their sales pick up over the past few months. However, with the announcement that Toyota (NYSE: TM) is stopping the sale of some of its cars as accelerator pedals are found to stick to the floorboard, and Ford (NYSE: F) has followed, there might be a slight fallout to the industry as orders will slow for the time being.
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