Notable ETF Movers of the Day 11/01: USO, XLF, UUP Higher; TAN, GLD, UNG Lower
Gainers
Receders
- United States Oil (NYSE: USO) up 2.27% to $35.97. Jumping higher today as China's Federation of Logistics and Purchasing reported a purchasing managers index increase from 52.9 to 54.7 and expectations of Fed measures to stimulate the economy.
- Financial Select Sector SPDR (NYSE: XLF) up 0.56% to $14.64. Financials might be seeing a boost today following AIG's (NYSE: AIG) announcement that they have raised
about $37 billion to pay back the U.S. government through the sale of its American Life Insurance Company (ALICO) subsidiary, and the initial public offering of a second, AIA Group Limited (AIA).
- PowerShares DB US Dollar Index Bullish (NYSE: UUP) up 0.18% to $22.41. The ISM Index increased from
54.4 in September to 56.9 in October. The number, which beat expectations of 54.0, is shining a positive light in economic recovery ahead of Fed announcements later this week.
Receders
- Claymore/MAC Global Solar Energy (NYSE:
TAN) down 1.31% to $8.30. Trading lower ahead of elections tomrrow as clean energy is a hot topic moving forward.
Coincidently, Jinko Solar (NYSE: JKS) is a winner in the sector today, blowing past third quarter expectations and increasing their outlook for FY10 results. JKS is up 15.4% at midday.
- SPDR Gold Shares (NYSE: GLD) down 0.44% to $132.04. Lower on the stronger dollar today ahead of expected quantitative easing by the Fed.
- United States Natural Gas (NYSE: UNG) down 2.60% to $5.67. Lower today as inventories that have gathered over the last several weeks were enough to meet demand over the weekend despite coler temps throughout the East Coast and Southern U.S.
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