Notable ETF Movers of the Day 03/01: (VXX) (USO) (INP) Higher; (UNG) (MOO) (IYR) Lower

• iPath S&P 500 VIX Short-Term Futures ETN (NYSE: VXX) up 2.19% to $30.84. Fed Cheif Ben Bernanke is presenting the Fed's semiannual Monetary Policy Report to the Congress. Comments include: "FOMC participants generally see the unemployment rate still in the range of 7-1/2 to 8 percent at the end of 2012. Until we see a sustained period of stronger job creation, we cannot consider the recovery to be truly established," and that "a prolonged increase in crude prices could pose a risk to the [U.S.] recovery." Volatility in the markets is notably heightened on the remarks.
  
  
• United States Oil (NYSE: USO) up 1.38% to $39.73. Speaking of oil. prices are spiking today as tensions and unrest continue to increase in North Africa and the Middle East. Saudi officials have stepped up production by 500,000 barrels per day to about nine million per day to make up for what Libya has cut off, but the move hasn't eased prices that much.
  
  
• iPath MSCI India Index ETN (NYSE: INP) up 3.03% to $67.03. Overall good news in India. Their manufacturing index rose at the fastest pace in three-months, offset slightly by increases in input prices. Finance Minister Pranab Mukherjee said that the economy would expand by 9% in FY11 - FY12, better than the 8.6% previously expected.

• United States Natural Gas (NYSE: UNG) down 3.06% to $5.22. Reports from the Energy Department have production increasing for the fifth consecutive month in December, causing prices to drop as investors and traders are worried that the output isn't being consumed quickly enough. Gas production in December advanced 1.1% from November.
  
  
• Market Vectors Agribusiness ETF (NYSE: MOO) down 0.89% to $55.68. As Bernanke sees a crimp in U.S. expansion, the need to increase output on farms diminishes. Additionally, commodity prices have been increasing over the last several months, leading to tighter margins for companies like Potash (NYSE: POT) and Monsanto (NYSE: MON).
  
  
• iShares Dow Jones US Real Estate (NYSE: IYR) down 1.24% to $59.84. Bernanke commenting that "the housing sector remains exceptionally weak." Continuing: "The overhang of vacant and foreclosed houses is still weighing heavily on prices of new and existing homes, and sales and construction of new single-family homes remain depressed. Although mortgage rates are low and house prices have reached more affordable levels, many potential homebuyers are still finding mortgages difficult to obtain and remain concerned about possible further declines in home values."

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