Notable ETF Movers of the Day 07/05: (USO) (SLV) (UUP) Higher; (FXI) (SMH) (VXX) Lower

• United States Oil (NYSE: USO) up 2.07 percent to $37.92. Crude has made up losses following the announcement of a 60 million barrel release a few sessions ago, as investors eye nonfarm payroll reports on Friday. The shortened holiday week should add a bit more volatility to oil prices. August contracts are up $1.69 to $96.63 per barrel on the Comex.
  
  
• iShares Silver Trust (NYSE: SLV) up 3.36 percent to $34.11. Investors are turning to gold and silver as value plays today. Silver September contracts are $1.245 to $34.95 per ounce on the Comex.
  
  
• PowerShares DB US Dollar Index Bullish (NYSE: UUP) up 0.24 percent to $21.25. The dollar is up versus many counterparts as fears that China may raise rates was noted in the Economic Information Daily and Moody's commented that banks rolling over Greek bonds into securities may incur impairment charges.

• iShares FTSE China 25 Index Fund (NYSE: FXI) down 0.96 percent to $42.88. As mentioned, China may raise rates again in order to combat inflation.
  
  
• Semiconductor HOLDRs (NYSE: SMH) down 1.01 percent to $34.42. Lower today following a report by Nomura Securities stating that the risk/reward in the U.S. semi sector is not favorable. The move is being led byTexas Instruments Inc. (NYSE: TXN), which is down over 1.6 percent on the session.
  
  
• iPath S&P 500 VIX Short-Term Futures ETN (NYSE: VXX) down 0.20 percent to $20.25. Back in negative territory today as the market tries to regain its footing following the holiday hangover. Volume are low today as well, potentially setting the table for the CBOE VIX to get back into positive territory.

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