Notable ETF Movers of the Day 09/04: (UNG) Higher; (SPY) (KOL) (OIH) Lower
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Broader markets are trading lower on Monday, with SPDR S&P 500 (NYSE: SPY) lower by 0.44 to 140.54. Disappointing China and U.S. manufacturing data set the tone early and so far traders haven’t noted much enthusiasm for a late rally.
Gainers:
United States Natural Gas ETF (NYSE: UNG) gained 2.3 percent to 19.25. Nuclear outages are putting upward pressure on natural gas futures, which continue to trade below $3 per million BTU, with strong resistance seen at $3 and $3.20.
Decliners:
Market Vectors Coal ETF (NYSE: KOL) is lower by 3.30 percent. Analysts are increasingly pessimistic about the prospects for the industry as coal prices remain under pressure. Arch Coal Inc. (NYSE: ACI) declined by another 7.7 percent today, resulting in a year-to-date decline of over 60 percent.
Market Vectors Oil Services ETF (NYSE: OIH) declined 2 percent to 39.51. Noble Corp. (NYSE: NE) declined 4.7 percent. Noble said today that its seven active rigs operating in the U.S. Gulf of Mexico sustained no damage as a result of Hurricane Isaac. However, the Company also reported that financial results for the third quarter of 2012 are expected to be negatively impacted by a number of other operational developments and delays in returning rigs to work.
Gainers:
United States Natural Gas ETF (NYSE: UNG) gained 2.3 percent to 19.25. Nuclear outages are putting upward pressure on natural gas futures, which continue to trade below $3 per million BTU, with strong resistance seen at $3 and $3.20.
Decliners:
Market Vectors Coal ETF (NYSE: KOL) is lower by 3.30 percent. Analysts are increasingly pessimistic about the prospects for the industry as coal prices remain under pressure. Arch Coal Inc. (NYSE: ACI) declined by another 7.7 percent today, resulting in a year-to-date decline of over 60 percent.
Market Vectors Oil Services ETF (NYSE: OIH) declined 2 percent to 39.51. Noble Corp. (NYSE: NE) declined 4.7 percent. Noble said today that its seven active rigs operating in the U.S. Gulf of Mexico sustained no damage as a result of Hurricane Isaac. However, the Company also reported that financial results for the third quarter of 2012 are expected to be negatively impacted by a number of other operational developments and delays in returning rigs to work.
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