Notable ETF Movers of the Day 10/08: XME, MOO, USO Higher; VXX, TAN, UUP Lower

• SPDR S&P Metals & Mining (NYSE: XME) up 3.38%% to $56.22. Miners making a move today, bolstered by Alcoa's (NYSE: AA) smashing third quarter results. Alcoa reported a Q310 EPS of $0.09 and revs of $5.3 billion, compared to the consensus EPS of $0.06 and $4.95 billion in revs.
  
  
• Market Vectors Agribusiness ETF (NYSE: MOO) up 3.33% to $48.07. Making a move today as the U.S. Department of Agriculture cut their forecast for supplies of corn, soybeans and wheat. Grain and oilseed prices are leading the charge on the Chicago Board of Trade.
  
  
• United States Oil (NYSE: USO) up 1.64% to $36.04. Stronger today not necessarily on an economic recovery, but on a weaker dollar, as dollar-denominated oil contracts become cheaper as the currency retreats.

• iPath S&P 500 VIX Short-Term Futures ETN (NYSE: VXX) down 2.11% to $15.80. The CBOE VIX is trading 3.3% lower today as investors are shrugging off a nonfarm payroll number than came in well below analyst expectations. However, with Bank of America and PNC announcing halts to foreclosures, and expectations of further quantitative easing by the Fed, investors may be in a temporary stock buying limbo.
  
  
• Claymore/MAC Global Solar Energy (NYSE: TAN) down 0.93% to $8.51. Though Yngli (NYSE: YGE) received an Outperform rating from RBC Capital today, Oppenheimer seems to be taking control as they downgraded Yngli and Jinko Solar (NYSE: JKS) from Outperform to Perform. The ETF has also seen a nice 23% run-up from late-August, so some profit taking may be in order.
  
  
• PowerShares DB US Dollar Index Bullish (NYSE: UUP) down 0.33% to $22.41. The U.S. dollar hit a 15-year low against the yen, dropping below 82 yen. Again, QEII is adding pressure to the dollar, as an influx will dilute its value versus a basket of currencies. The Bank of Japan approved a $60 billion measure to reduce long-term borrowing costs and premiums on corporate debt.

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