Notable ETF Movers of the Day 10/01: (UNG) (RSX) Higher; (VNQ) (IYR) Lower
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Gainers:
United States Natural Gas ETF (NYSE: UNG) gained 4.9 percent to 22.38. After breaking above $3 last week, natural gas futures prices accelerated to fresh highs above $3.45 per million btu today. Traders say that while the move is mainly technically driven, weather forecasts for cooler than expected temperatures are playing a part. The National Weather Service's 6 to 10-day outlook calls for below or much-below-normal temperatures for most of the country.
Market Vectors Russia ETF (NYSE: RSX) gained 2.2 percent to 29.42 as oil prices stabilized thanks to better than expected manufacturing data in the U.S. An ISM manufacturing survey showed a reading of 51.5, which was higher than analyst expectations of 49.7, and indicative of economic expansion. Russian shares, which are heavily weighted with energy and gas companies, moved higher on the news.
Decliners:
Vanguard REIT Index ETF (NYSE: VNQ) declined 0.9 percent after construction spending data showed a decline of 0.6 percent March. Economists were expecting a slight gain. iShares Dow Jones US Real Estate ETF (NYSE: IYR) also declined, shedding 0.6 percent.
United States Natural Gas ETF (NYSE: UNG) gained 4.9 percent to 22.38. After breaking above $3 last week, natural gas futures prices accelerated to fresh highs above $3.45 per million btu today. Traders say that while the move is mainly technically driven, weather forecasts for cooler than expected temperatures are playing a part. The National Weather Service's 6 to 10-day outlook calls for below or much-below-normal temperatures for most of the country.
Market Vectors Russia ETF (NYSE: RSX) gained 2.2 percent to 29.42 as oil prices stabilized thanks to better than expected manufacturing data in the U.S. An ISM manufacturing survey showed a reading of 51.5, which was higher than analyst expectations of 49.7, and indicative of economic expansion. Russian shares, which are heavily weighted with energy and gas companies, moved higher on the news.
Decliners:
Vanguard REIT Index ETF (NYSE: VNQ) declined 0.9 percent after construction spending data showed a decline of 0.6 percent March. Economists were expecting a slight gain. iShares Dow Jones US Real Estate ETF (NYSE: IYR) also declined, shedding 0.6 percent.
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