Notable ETF Movers of the Day 01/10: (SMH) (GDX) Higher; (UUP) Lower
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Gainers:
Market Vectors Semiconductor ETF (NYSE: SMH) gained 3.5 percent to 33.56. While strength was experience across the board, Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE: TSM) was a clear leader. Taiwan Semiconductor today reported December consolidated sales rose 18.8 percent compared to December 2011. The news lifted related stocks including the world's largest chipmaker, Intel (Nasdaq: INTC), which rose by 1.4 percent. Taiwan Semiconductor is the second largest holding in SMH.
Market Vectors Gold Miners ETF (NYSE: GDX) climbed 2.2 percent to 45.3. The move higher was tied to an increase in the spot price of gold, which swung higher to $1675 per ounce. Gold's rise was linked to a dramatic fall in the value of the US Dollar Index. Barrick Gold Corporation (NYSE: ABX) was among today's winners, gaining 2 percent.
Decliners:
PowerShares DB US Dollar Index Bullish ETF (NYSE: UUP) declined 1 percent to 21.8. The move lower was the largest single day decline in months. While the dollar trades against a basket of currency, all eyes were clearly on EUR/USD today. The move centered on comments by the ECB's Mario Draghi. As expected the ECB left interest rates in the Euro Zone unchanged today. However, investors were moved by comments during a question and answer session, which taken together with a unanimous vote to hold interest rates steady, is seen as hawkish relative to the Fed's ultra easy policy. The value of the dollar index declined below 80. EUR/USD climbed to 1.3250. CurrencyShares Euro Trust ETF (NYSE: FXE) gained 1.5 percent.
Market Vectors Semiconductor ETF (NYSE: SMH) gained 3.5 percent to 33.56. While strength was experience across the board, Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE: TSM) was a clear leader. Taiwan Semiconductor today reported December consolidated sales rose 18.8 percent compared to December 2011. The news lifted related stocks including the world's largest chipmaker, Intel (Nasdaq: INTC), which rose by 1.4 percent. Taiwan Semiconductor is the second largest holding in SMH.
Market Vectors Gold Miners ETF (NYSE: GDX) climbed 2.2 percent to 45.3. The move higher was tied to an increase in the spot price of gold, which swung higher to $1675 per ounce. Gold's rise was linked to a dramatic fall in the value of the US Dollar Index. Barrick Gold Corporation (NYSE: ABX) was among today's winners, gaining 2 percent.
Decliners:
PowerShares DB US Dollar Index Bullish ETF (NYSE: UUP) declined 1 percent to 21.8. The move lower was the largest single day decline in months. While the dollar trades against a basket of currency, all eyes were clearly on EUR/USD today. The move centered on comments by the ECB's Mario Draghi. As expected the ECB left interest rates in the Euro Zone unchanged today. However, investors were moved by comments during a question and answer session, which taken together with a unanimous vote to hold interest rates steady, is seen as hawkish relative to the Fed's ultra easy policy. The value of the dollar index declined below 80. EUR/USD climbed to 1.3250. CurrencyShares Euro Trust ETF (NYSE: FXE) gained 1.5 percent.
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