Notable ETF Movers of the Day 02/24: (USO) (TAN) (EWZ) Higher; (UNG) (GDX) (UUP) Lower

• United States Oil (NYSE: USO) up 0.45% to $39.98. Oil moving higher again, for the dozenth day, though not as rapidly as the past couple of trading sessions, as OPEC pledged to replace oil supplies that are lost if Libya cuts of their production. Several major producers with operations in Libya has already ceased production and pulled out throngs of workers. Crude also hit $100 per barrel yesterday, for the first time since September 2009, and April 11 contracts are the only ones not trading over $100 today.
  
  
• Guggenheim Solar (NYSE: TAN) up 1.77% to $8.62. Trina Solar Ltd. (NYSE: TSL) trading strong following solid results out of the company on Tuesday. Also investor paying attention ahead of First Solar (Nasdaq: FSLR) earnings after the close today. FSLR is also up today, about 2.3%. Might also be a speculative play on increasing oil costs?
  
  
• iShares MSCI Brazil Index (NYSE: EWZ) up 1.00% to $73.93. Brazil shares are gaining today as the U.S. may turn to South America's largest oil exporter as concerns of Middle East export tightening come to fruition. Brazil oil giant Petroleo Brasiliero (NYSE: PBR) are up 0.5% in midday trading.

• United States Natural Gas (NYSE: UNG) down 2.66% to $5.12. Natural gas holding in red territory today, following an EIA report which had inventories drop 81 billion cubic feet last week, just about in-line with polls that were calling for a decline in the neighborhood of 81 -85 Bcf. The numbers weren't enough to spark buying, as the drop is below the five-year average of 148 Bcf. April 11 contracts are down $0.087/mmBtu to $3.849/mmBtu.
  
  
• Market Vectors Gold Miners ETF (NYSE: GDX) down 1.39% to $58.78. The mining ETF is seeing a little pressure today, following a quarterly report out of Newmont Mining (NYSE: NEM) earlier in the day. NEM reported EPS of $1.16 on revs of $2.55 billion, mixed to the consensus. NEM gave the outlook for FY11 production of 5.1 - 5.3 million ounces, down from 5.4 million ounces produced in FY10. They attribute a drop in Batu Hijau production (which is entering Phase 6 stripping) as a major reason for the reduced outlook.
  
  
• PowerShares DB US Dollar Index Bullish (NYSE: UUP) down 0.27% to $22.17. Lower on continued turmoil in Libya, with oil exports from the Middle East expected to be cut. The move is bad for the dollar, as the U.S. is the largest consumer of oil, and increasing prices will channel dollars that may have been used for expansion into consumers fuel tanks.

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