Notable ETF Movers of the Day 12/30: (GLD) (VXX) Higher; (UNG) (XLF) Lower
Gainers
- SPDR Gold Shares (NYSE: GLD) up 1.88 percent to $153.16. Investors may be hiding some extra cash in gold today, with lighter market volumes, as a long weekend in U.S. markets await. With the U.S. dollar also on the mend, gold contracts cheapen to foreign investors, making them a more attractive option.
The WSJ noted that gold is set for it's 11th year of gains, up 8.4 percent for 2011. February contracts have traded $34.3 higher to $1,575.2 per ounce on the Comex. With gold recently hitting over $1,750 per ounce, the continued uncertain macro outlook and potential upside might draw investors back in in early 2012.
- iPath S&P 500 VIX Short-Term Futures ETN (NYSE: VXX) up 0.54 percent to $35.17. The CBOE VIX is modestly higher on the last trading day for 2011, up about 1.4 percent. Lower volume generally brings more volatility to the market, with each trade affecting prices a little more.
- United States Natural Gas (NYSE: UNG) down 1.37 percent to $6.49. Nat gas got below $3 for the first time in over 2 years, as lagging demand and warmer weather hamper stockpiles. February contracts are down $0.023 to $3.004 per mmBtu on the Comex.
- Financial Select Sector SPDR (NYSE: XLF) down 0.34 percent to $13.02. Citi (NYSE: C) and JPMorgan (NYSE: JPM) are leading the move lower, down 1.4 percent and 0.7 percent, respectively. Financials have been laggards compared to the markets with the S&P Financials fell 18 percent, and the KBW Bank Index dropped 24 percent. Notably, the S&P is down just slightly, and Dow rose about 6.1 percent in 2011. Many have concerns about new capital rules and larger financials ability to meet them, though JPMorgan, Wells Fargo (NYSE: WFC), and some others, have already tooted that they'll be able to meet stringent requirements either next year, or the year after. Banks are expected to comply with tighter standards by 2019.
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