Notable ETF Movers of the Day 03/31: (USO) (GLD) (FXI) Higher; (XRT) (EWJ) (UNG) Lower
Gainers
Receders
- United States Oil (NYSE: USO) up 1.61% to $42.33. Crude prices spiking again today from, as the WSJ puts it, LibyaSyriaYemen (LSY). Pro-Gaddafi forces have pushed back rebels, delaying a possible overthrow of the government. Additionally, people in Syria are getting edgy with their government, following a soft speech by Syrian President Bashar al-Assad, keeping tensions heightened in the Middle East. WTI crude is trading $1.62 better to $105.89 per barrel on the Comex.
- SPDR Gold Shares (NYSE: GLD) up 1.05% to $140.13. Gold popping as fears swell around bank stress tests in Ireland, as well as a potential bailout of Portugal, adding on to inflation fears in the U.S. as food and energy prices continue to swell. Gold is considered a safe haven against currency risk.
- iShares FTSE China 25 Index Fund (NYSE: FXI) up 1.06% to $44.87. China stocks finished higher on prospects for better jobs numbers today, which happened, though consensus numbers were missed, taking their cue from stronger ADP data on Wednesday.
Receders
- SPDR S&P Retail (NYSE: XRT) down 1.27% to $50.48. Retailers reacting to jobless numbers today, ahead of tomorrow's nonfarm payroll report, as claims fell but missed expectations (See FXI above for link). New claims of 388K missed expectations for a drop to 380K. Retailers are also grimacing increasing crude and commodity prices, which will pinch margins moving forward.
- iShares MSCI Japan Index (NYSE: EWJ) down 1.00% to $10.35. Ticking lower following U.S. jobless numbers. Japan, like China, rely heavily on the U.S. economy for their own economies to boom. Increased jobless claims signal stagnation in the U.S., and less imports from overseas and consumers conserve funds.
- United States Natural Gas (NYSE: UNG) down 2.53% to $11.18. Nat gas falling following an EIA report showing an increase of 12 billion cubic feet to stores, completely missing consensus expectations for a draw of one to five billion cubic feet.
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