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Notable ETF Movers of the Day 09/13: SPY, XLF, SMH Higher; VXX, UUP Lower

September 13, 2010 11:48 AM EDT
Gainers

  • SPDR S&P 500 (NYSE: SPY) up 1.18% to $112.80. Broader markets are on the rise today as new Basel rules, requiring banks to meet a higher reserve requirements, and continued growth in China are refueling investor risk appetite. China reported a 13.9% Y/Y increase in industrial production in August. PowerShares QQQ (Nasdaq: QQQQ) is also 1.48% higher today.

  • Financial Select Sector SPDR (NYSE: XLF) up 2.27% to $14.86. Again, Basel III is changing the field of banking, once again, by requiring banks to keep a ratio equalling 7% high-quality capital to risk bearing assets, essentially reducing leverage. Prior requirements only had banks keeping 2% on hand. The rules have an eight-year implementation period, and more can be found here. J.P. Morgan (NYSE: JPM) and U.S. Bank (NYSE: USB) are leading the top-ten XLF holdings higher today, each up over 3%

  • Semiconductor HOLDRs (NYSE: SMH) up 2.87% to $25.82. More M&A action in the tech sector today as Hewlett-Packard (NYSE: HPQ) announced that they have entered an agreement to acquire ArcSight (Nasdaq: ARST) for $43.50 per share, or $1.5 billion total. This is the second major deal of the month for HP, having acquired 3PAR (NYSE: PAR) at the start of September.


Receders

  • iPath S&P 500 VIX Short-Term Futures ETN (NYSE: VXX) down 3.67% to $17.86. The ETF hit a 52-week low of $17.75 today as broader market rallies are continuing today.

  • PowerShares DB US Dollar Index Bullish (NYSE: UUP) down 0.92% to $23.76. As investors increase their risk appetite, the U.S. dollar, typically thought of as a safe-haven investment, is receding against other currencies. The EUR/USD is approaching the $1.30 mark again, currently at $1.2866.


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JPMorgan, Standard & Poor's, Notable ETF Movers, 3Par/Dell/HP, Hewlett-Packard/ArcSight