Notable ETF Movers of the Day 07/25: (GLD) (VXX) (MOO) Higher; (XLK) (USO) (XLF) Lower
Gainers
- SPDR Gold Shares (NYSE: GLD) up 0.71 percent to $157.24. The gold ETF is hitting an all-time high today, at $157.80, as gold moves higher on the session as investors and traders are looking to position themselves in safer investments as U.S. debt talks continue. August contracts are up $13.8 to $1,615.3 per ounce on the Comex.
- iPath S&P 500 VIX Short-Term Futures ETN (NYSE: VXX) up 2.65 percent to $21.28. The CBOE VIX is about 9.5 percent stronger today on uneasiness over U.S. debt and potential downgrade of its sterling credit rating. Despite dialogue, Congress still has yet to reach an agreement on lifting the debt ceiling ahead of the August 2nd deadline.
- Market Vectors Agribusiness ETF (NYSE: MOO) up 0.54 percent to $55.97. Being led by Syngenta (NYSE: SYT) today, which is bouncing following a 4.1 percent close lower last Friday following first-half results for 2011. Click here for more from the release.
- Technology Select Sector SPDR (NYSE: XLK) down 0.34 percent to $26.62. Notably lower today following word that Research In Motion (Nasdaq: RIMM) is dicing about 2,000 positions. Though not a holding in the ETF, the announcement is sending RIM shares nearly 4 percent lower on the session.
- United States Oil (NYSE: USO) down 0.33 percent to $38.80. WTI September contracts are down $0.42 to $99.78 per barrel on the session on debt discussions. Conversely, a default by the U.S. on its debt would likely weaken the U.S. dollar, making oil contracts cheaper, potentially pushing prices higher.
- Financial Select Sector SPDR (NYSE: XLF) down 0.91 percent to $15.18. Again, financials seeing pressure from unresolved U.S. debt issues. The ETF is being led lower by Bank of America (NYSE: BAC), which is retracing a little after coming off of two-year lows last week. Many financial institutions reported better than expected earnings last week, bolstered by better capital ratios ahead of Basel III requirements.
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