Notable Midday ETF Movers 11/17: UUP, KRE, USO Higher; EWT, XRT Lower
HIGHER;
- PowerShares DB US Dollar Index Bullish (NYSE: UUP) up 0.86% to $22.41. The dollar stays strong as Finance Chief Bernanke made positive comments about the U.S. economy yesterday, which were reinforced by European Central Bank President Jean-Claude Trichet.
- SPDR KBW Regional Banking (NYSE: KRE) up 1.11% to $20.98. Higher on possible speculation of bank reform that would benefit the regional banks more.
- United States Oil Fund LP (NYSE: USO) shares are down 0.37% to $40.14. Oil prices rise on a stronger dollar, despite solid inventories. Mixed signals are in the market following the PPI release this morning.
- iShares MSCI Taiwan Index (NYSE: EWT) is trading significantly lower, down 3.89% to $12.61. Concerns over the financial cooperation deal made with China which lacks details and may take months to implement.
- SPDR S&P Retail (NYSE: XRT) lower 1.50% to $35.57. Home Depot (NYSE: HD) released pretty sour earnings today, sending the stock down about 3.27% and dragging along many in the retail sector down with it despite better earnings out of companies like Target (NYSE: TGT), Pacific Sunwear (NASDAQ: PSUN), and TJX Co.’s (NYSE: TJX), though all reported cautiousness in their forecasts.
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