Notable ETF Movers of the Day 09/17: (XLE) Higher; (SLX) (XHB)
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Gainers:
Energy Select Sector SPDR (NYSE: XLE) gained 0.20 percent to 76.70. Shares of gas and exploration company, Apache Corp. (NYSE: APA), gained 1.25 percent today on technical trading as shares breached resistance at $90. In the past 30 days APA has gained 3.8 percent compared to the XLE, which his higher by 5.7 over the same period.
Decliners:
Market Vectors Steel ETF (NYSE: SLX) declined 2 percent to 48 after a number of steel stocks were downgraded by analysts at JPMorgan. Analysts said the recent rally in the sector was probably a short squeeze and was unlikely to continue considering continued pressure on steel prices.
SPDR S&P Homebuilders (NYSE: XHB) declined 1.4 percent to 25.5. Shares of Pulte (NYSE: PHM) declined 2.9 percent on profit taking after a 10 percent, 5-day rally. Homebuilder stocks have been one of the best performing sectors of the S&P 500 this year, thanks to stabilization in housing prices in the U.S. Rates for 30-year fixed mortgages in the U.S. remain near record lows at 3.5 percent.
Energy Select Sector SPDR (NYSE: XLE) gained 0.20 percent to 76.70. Shares of gas and exploration company, Apache Corp. (NYSE: APA), gained 1.25 percent today on technical trading as shares breached resistance at $90. In the past 30 days APA has gained 3.8 percent compared to the XLE, which his higher by 5.7 over the same period.
Decliners:
Market Vectors Steel ETF (NYSE: SLX) declined 2 percent to 48 after a number of steel stocks were downgraded by analysts at JPMorgan. Analysts said the recent rally in the sector was probably a short squeeze and was unlikely to continue considering continued pressure on steel prices.
SPDR S&P Homebuilders (NYSE: XHB) declined 1.4 percent to 25.5. Shares of Pulte (NYSE: PHM) declined 2.9 percent on profit taking after a 10 percent, 5-day rally. Homebuilder stocks have been one of the best performing sectors of the S&P 500 this year, thanks to stabilization in housing prices in the U.S. Rates for 30-year fixed mortgages in the U.S. remain near record lows at 3.5 percent.
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