Notable ETF Movers of the Day 11/09: (VXX) (UUP) (GLD) Higher; (UNG) (SPY) (FXI) Lower
Gainers
Receders
- iPath S&P 500 VIX Short-Term Futures ETN (NYSE: VXX) up 7.57 percent to $43.91. The CBOE VIX volatility index is 13 percent better Wednesday, as investors turn their attention to Italy and its shift in prime minister. Data has Italy's key borrowing rate above the 7 percent mark, levels at which Greece and Portugal were forced to seek a bailout.
- PowerShares DB US Dollar Index Bullish (NYSE: UUP) up 1.48 percent to $21.91. As market volatility increases, investors are seeking the safety of the U.S. dollar. The EUR/USD trade is down about 1.7 percent, to €1.3593.
- SPDR Gold Shares (NYSE: GLD) up 0.27 percent to $173.99. Gold is just about flat to higher today on European worries. The move was set forth earlier in the week as Greek PM George Papandreou said he would be stepping down, and Italy's PM Silvio Berlusconi also said he'd be stepping down.
Receders
- United States Natural Gas (NYSE: UNG) down 2.55 percent to $8.40. Nat gas futures lower as warmer weather continues to hang around in the Midwest and Eastern U.S. The National Weather Service expects warmer-than-normal temps to stick around at least through November 22nd. December contracts are $0.088 lower to $3.657 per mmBtu on the Comex.
- SPDR S&P 500 (NYSE: SPY) down 1.95 percent to $125.39. U.S. markets lower on Europe. In addition, General Motors (NYSE: GM) reported a third-quarter beat, but flat fourth-quarter EBIT-adjusted outlook has investors on edge. The report might be a signal, at least for the auto industry, that fourth-quarter growth may not be as robust as originally anticipated. The Dow is down 1.6 percent, Nasdaq off 2 percent, and S&P also down 2 percent on the session.
- iShares FTSE China 25 Index Fund (NYSE: FXI) down 3.80 percent to $37.47. Not only reacting to Europe, but China is reacting to economic data today as well. According to reports, China's annual inflation rate dropped from 6.1 percent to 5.5 percent in October, which Reuters pointed out was the largest sequential drop since February 2009. Industrial output also rose by 13.2 percent, slightly lower than the 13.4 percent anticipated.
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