Notable ETF Movers of the Day 03/08: (FXI) (XLF) (XHB) Higher; (XOP) (VXX) (GLD) Lower

• iShares FTSE China 25 Index Fund (NYSE: FXI) up 2.67% to $44.25. Seeing upside today as crude oil prices fall on a potential exit of Libyan leader Moammar Gadhafi. Lower prices might have more U.S. consumers buying goods from China, instead of directing funds into their gas tank.
  
  
• Financial Select Sector SPDR (NYSE: XLF) up 2.10% to $16.75. Led by Bank of America (NYSE: BAC) today, which is having its first Investors Conference since 2007. BAC shares are 4% today, and others in the sector are following suit.
  
  
• SPDR S&P Homebuilders (NYSE: XHB) up 3.37% to $18.10. MDC Holdings Inc. (NYSE: MDC) is taking the ETF higher today, following upgrades at Credit Suisse and Ticonderoga. MDC shares are up 9.6% on the day.

• SPDR S&P Oil & Gas Exploration & Prod (NYSE: XOP) down 1.15% to $59.57. Lower today as oil prices are pulling back on a potential settlement in Libya. Speculation over potential disruptions in oil production may have pushed prices up at a more rapid click than they would have normally done, similar to that of what happened in 2008 when prices topped $140 per barrel.
  
  
• iPath S&P 500 VIX Short-Term Futures ETN (NYSE: VXX) down 2.47% to $31.69. The CBOE VIX near-term volatility index is lower today following several up days, as investors fears over continued escalation in oil prices is easing, and focus is now in buying back into stocks following the recent dip. The CBOE VIX is down 6% on the day.
  
  
• SPDR Gold Shares (NYSE: GLD) down 0.44% to $139.10. Gold in limbo today as the U.S. dollar is gaining a little strength on falling crude. Though there is still geopolitical risk to markets on the table, investors are playing a more risky card today. Dollar denominated gold contracts typically provide a hedge against currency and inflation risk. April 11 contracts are down $7.6/ounce to $1,426.9/ounce on the Comex.

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