Notable ETF Movers of the Day 9/10: (TAN) (XME) Higher; (VXX) Lower
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Gainers:
Guggenheim Solar (NYSE: TAN) is higher by 2 percent to 17.15. Suntech Power Holdings Co. Ltd. (NYSE: STP), JA Solar Holdings (Nasdaq: JASO), and a few other names in the space are moving higher, recovering losses suffered last week. Despite today’s gains, STP is lower by 11 percent in the past 5 trading sessions. Last week STP made news when it commented on dumping accusations by the EU government. The dumping investigation in the EU follows a court ruling earlier this year in the U.S. that penalized Chinese companies.
SPDR S&P Metals & Mining (NYSE: XME) is higher by 1.84 percent to 44.73. Shares of Commercial Metals Company (NYSE: CMC) is higher by 1.81 percent. Last week the government in China announced they would approve $157 billion in planned infrastructure projects. As a result of the announcement, metals and mining stocks, particularly those names seen as benefiting directly from China stimulus, have rallied.
Decliners:
iPath S&P 500 VIX ST Futures ETN (NYSE: VXX) is lower by another 0.80 percent today to 9.34. In the past 3 months VXX has declined by 53 percent. VXX is an ETF tied to VIX futures, commonly referred to as the fear index, and is a reflection of implied volatility on the S&P 500. Many interpret the contraction in implied volatility as a positive sign for markets and is likely related to a decrease in overall pessimism regarding Europe.
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Guggenheim Solar (NYSE: TAN) is higher by 2 percent to 17.15. Suntech Power Holdings Co. Ltd. (NYSE: STP), JA Solar Holdings (Nasdaq: JASO), and a few other names in the space are moving higher, recovering losses suffered last week. Despite today’s gains, STP is lower by 11 percent in the past 5 trading sessions. Last week STP made news when it commented on dumping accusations by the EU government. The dumping investigation in the EU follows a court ruling earlier this year in the U.S. that penalized Chinese companies.
SPDR S&P Metals & Mining (NYSE: XME) is higher by 1.84 percent to 44.73. Shares of Commercial Metals Company (NYSE: CMC) is higher by 1.81 percent. Last week the government in China announced they would approve $157 billion in planned infrastructure projects. As a result of the announcement, metals and mining stocks, particularly those names seen as benefiting directly from China stimulus, have rallied.
Decliners:
iPath S&P 500 VIX ST Futures ETN (NYSE: VXX) is lower by another 0.80 percent today to 9.34. In the past 3 months VXX has declined by 53 percent. VXX is an ETF tied to VIX futures, commonly referred to as the fear index, and is a reflection of implied volatility on the S&P 500. Many interpret the contraction in implied volatility as a positive sign for markets and is likely related to a decrease in overall pessimism regarding Europe.
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