Notable ETF Movers of the Day 08/16: (GDX)(XHB) Higher; (IBB)Lower

• Market Vectors Gold Miners ETF (NYSE: GDX) up 2.75 percent to $45.37. The move is led by Barrick Gold Corporation (NYSE: ABX) which is higher by 3 percent on news that it is in talks to sell its holdings in Barrick Africa. Other gold miners are also moving higher due to an increase in the spot price of gold, which is trading back above $1600 per ounce.
  
• SPDR S&P Homebuilders (NYSE: XHB) up 2.75 percent to $22.97. The move is in response to data on U.S. building permits. Building permits increased to 812k vs. estimates of 769k. Housing starts were a bit disappointing at 746K.
  

• iShares Nasdaq Biotechnology (NYSE: IBB) down 0.77 percent to $133.79. Shares of Perrigo Co. (Nasdaq: PRGO) declined by 6.4 percent following the company’s earnings report. Perrigo has a 4 percent weighting in IBB.

You May Also Be Interested In

• Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
• Zurn Water Solutions (ZWS) Reiterated at Buy by Stifel on New Product Development Momentum
• Arena Group to rename as Paradium.AI, ticker changing to PAAI