Notable Midday ETF Movers 11/18: USO, XLF, SEA; UNG, EWJ Lower
HIGHER;
- United States Oil Fund LP (NYSE: USO) is up about 0.82% to $40.81. Crude inventories dropped by about 887K, fueling Sweet Crude futures to rise $0.88 to $80.02.
- Financial Select Sector SPDR (NYSE: XLF) trading up modestly to $14.95, about a 0.61% gain. The ETF is helped by a BofA Merrill Lynch report that investors don't see the Fed raising rates until H210. Also, John Paulson said he thinks Bank of America (NYSE: BAC) will double in two years. BAC, which represents a 10.3% holding of the ETF, is up 3.1% today.
LOWER:
- United States Natural Gas (NYSE: UNG) is down about 3.34% to $8.98. Weather forecasters now see temperatures in significant natural gas consuming areas (i.e. - Midwest, Northeast) to be more mild toward the end of November. Previously, weather was expected to be cooler-than-normal in those regions, driving natural gas prices higher.
- iShares MSCI Japan Index (NYSE: EWJ) shares are trading lower, down about 1.15% to $9.45. Shares are down as the Japanese Yen is weakening against foreign currencies in the wake of Japanese businesses rushing to find equity financing.
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