Notable ETF Movers of the Day 09/09: XLF, USO, XHB Higher; UNG, VXX, GLD Lower

• Financial Select Sector SPDR (NYSE: XLF) up 1.95% to $14.61. Financials are leading higher today on lighter volume, possibly due to the Rosh Hashanah holiday. Both a reduction in jobless claims and the trade balance are adding positive sentiment to the U.S. economic recovery.
  
  
• United States Oil (NYSE: USO) up 1.03% to $33.48. Oil is stronger today on an EIA report today showing an unexpected drop in supplies, about 1.85 million barrels to 359.9 million for the week ended September 3, 2010. Prior inventory data showed a 3.42 million barrel increase.
  
  
• SPDR S&P Homebuilders (NYSE: XHB) up 1.40% to $15.22. Again, homebuilders are seeing some buying today on data. Last week, builders saw construction spending drop more sharply than expected, but lower nonfarm payroll numbers and above-average increase in hourly earnings is boosting confidence in the sector.

• United States Natural Gas (NYSE: UNG) down 2.35% to $6.23. Nat gas futures are lower today as EIA data showed that stores rose 58 billion cubic feet last week, compared to the analyst estimates of a 56 - 60 Bcf increase.
  
  
• iPath S&P 500 VIX Short-Term Futures ETN (NYSE: VXX) down 3.48% to $18.58. The CBOE VIX is trading 4.43% lower today as initial jobless claims came in at 451K, lower than both the consensus (470K) and the previous number (478K).
  
  
• SPDR Gold Shares (NYSE: GLD) down 0.68% to $121.87. As expected, investors are getting a little more hungry for risk today as economic data is spurring belief in a U.S. recovery. Gold tends to be more of a safe-haven in a turbulent market. December gold contracts are trading $9.1/ounce lower to $1248.4/ounce on the COMEX.

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