Notable ETF Movers of the Day 12/27: XLF, VXX, FXE Higher; XRT, UNG, FXI Lower
Gainers:
- Financial Select Sector SPDR (NYSE: XLF) up 0.57% to $15.96. Financials up today, led by American international (NYSE: AIG), which is seeing a strong day following an announcement that they have entered $4.3 billion in total credit facilities. AIG shares are up 5.7% today.
- iPath S&P 500 VIX Short-Term Futures ETN (NYSE: VXX) up 1.93% to $38.53. The CBOE VIX near-term volatility index is up today following China's interest rate hike by 25 basis points last Saturday, which should slow the world's second largest economy as costs of lending from banks will surely increase. The move is the second time in three months that China has raised the rate, following record levels of inflation. The VIX is up 8.9% today.
- CurrencyShares Euro Trust (NYSE: FXE) up 0.24% to $130.99. Stronger today as risk appetite subsides. U.K. markets are closed for Boxing Day, and heavy snowfall in New York is making many commutes loger than expected. Thin trading between Christmas and New Year's Day may also exaggerate movement.
- SPDR S&P Retail (NYSE: XRT) down 1.01% to to $47.96. Retailers are feeling a pinch from the China interest rate hike, and the potential for inclement weather to crimp sales. The weeks after Christmas is a time when many head back into stores with gift cards, exchange items, or pick up even more deals. The ETF is being led lower by Expedia (Nasdaq: EXPE), which is 2.8% lower this morning.
- United States Natural Gas (NYSE: UNG) down 0.89% to $5.56. Weather heading into the New Year holiday is expected to be much more milder than seasonal averages. Temps in the Midwestern U.S. and East Coast are expected milder over then next six-to-ten days, causing less nat gas usage to keep warm.
- iShares FTSE China 25 Index Fund (NYSE: FXI) down 0.49% to $42.39. Stocks on the Shanghai Composite closed lower, led by property developers, as concerns of potentially increased costs of funding for developers weighed on investors minds.
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