StreetInsider.com Notable ETF Movers 12/23: GDX, GDXJ, USO, INP Up; XLF, UUP, VXX Down
StreetInsider.com Notable ETF Movers:
HIGHER;
- Market Vectors Gold Miners ETF (NYSE: GDX) up 4% to $47.20, and Market Vectors Junior Gold Miners ETF (NYSE: GDXJ) up 4.15% to $25.85. Shares rise as the inverse relationship to the U.S. dollar holds true, and gold prices chug ahead as thin trading is increasing F/X volatility and investors are taking some profits on earlier advances. Investors are still confident in the USD's ability to stay strong on an economic recovery, however, so keep your eyes on gold miners and gold ETF's (NYSE: GLD) (NYSE: DGP).
- United States Oil (NYSE: USO) up 3.15% to $37.71 as inventories fell by a larger-than-forecast number. Inventories fell 4.84 million barrels, compared to the estimate of 1.6 million barrels.
- Notable Notable: iPath MSCI India Index ETN (NYSE: INP) up 2.48% to $63.11. India investors are moving back to the market as the rupee weakens on speculation that importers in India will step-up dollar purchases to settle month-end bills as the dollar strengthens to a 15-week high.
LOWER:
- Financial Select Sector SPDR (NYSE: XLF) down 0.45% to $14.40. Shares may be lower as recent capital raises from Wells Fargo (NYSE: WFC), Bank of America (NYSE: BAC) and Citigroup (NYSE: C) may have put too much new supply in the sector. Investors may see a top for now in the financials, and movements may be a little more drastic as trading is light.
- PowerShares DB US Dollar Index Bullish (NYSE: UUP) down 0.69% to $23.00. The dollar is lower against other currencies as investors are seeing it reach a 15-week high and look to take a little profit before the holiday weekend and New Year.
- iPath S&P 500 VIX Short-Term Futures ETN (NYSE: VXX) down 1.5% to $32.86. The CBOE VIX recently turned positive, up 0.97% to 19.73, but the ETF is playing a little catch-up right now.
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