Notable ETF Movers of the Day 01/06: (UNG) (XLK) (UUP) Higher; (VXX) (TAN) (FXI) Lower
Gainers
- United States Natural Gas (NYSE: UNG) up 2.80 percent to $6.60. Nat gas rebounding following reports that stockpiles fell 76 billion cubic feet last week, which was in-line with views, but below the 5-year average and what was drawn during the same period last year. With warmer-than-normal temps moving in this week through much of the Midwest and Eastern U.S., traders might be paying a longer-term outlook.
- Technology Select Sector SPDR (NYSE: XLK) up 0.12 percent to $25.99. Though largely in negative territory much of the morning, the tech sector is getting positive as Apple (Nasdaq: AAPL), Oracle (Nasdaq: ORCL), and Microsoft (Nasdaq: MSFT) gains are outpacing shares in the red.
- PowerShares DB US Dollar Index Bullish (NYSE: UUP) up 0.42 percent to $22.74. The U.S. dollar showing some strength today, gaining versus major rivals, on employment numbers. Reported earlier, the Bureau of Labor Statistics data showed additions of 200,000 nonfarm jobs to the U.S. market, outpacing estimates calling for just a 155,000 gain. For more color on the report, click here.
- iPath S&P 500 VIX Short-Term Futures ETN (NYSE: VXX) down 2.29 percent to $31.51. The CBOE VIX near-term index is down 3.2 percent, nearing a close below $20. Jobs data leading to lower unemployment is adding complacency in the markets. Last time the VIX was below $20 was over the summer, July in particular.
- Guggenheim Solar (NYSE: TAN) down 0.77 percent to $2.58. Solars moving lower -- not to mention acting a little shifty -- following reports that German solar subsidies might be cut by as much as 30 percent in 2012.
- iShares FTSE China 25 Index Fund (NYSE: FXI) down 1.43 percent to $35.18. China stocks melted lower on European fears, but will react to nonfarm data on Monday. Investors might still want to keep an eye on Europe over the weekend, with German industrial orders falling 4.8 percent in November, the most in two years, and debt issues still continue to weigh. Italian and Spanish borrowing costs continue to remain high, as investors are demanding a higher risk premium.
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