Notable ETF Movers of the Day 01/30: (VXX) (UNG) (UUP) Higher; (XLF) (SPY) (FXI) Lower
Gainers
- iPath S&P 500 VIX Short-Term Futures ETN (NYSE: VXX) up 2.26 percent to $26.66. The COBE VIX is higher on the session, up about 6 percent, as investors Greece on lack of a debt-restructuring deal as well as comments from German finance minister Wolfgang Schauble that the euro zone might refuse a bailout for Greece unless further proof that changes are coming is supplied.
- United States Natural Gas (NYSE: UNG) up 1.19 percent to $5.95. Forecasts for cooler weather across the East Coast for the next week or two is adding interest to nat gas futures. March contracts are up $0.035 to $2.791 on the Comex.
- PowerShares DB US Dollar Index Bullish (NYSE: UUP) up 0.55 percent to $22.11. The U.S. dollar gaining versus the euro today on fears that a bailout for Greece might not happen if terms and commitments don't satisfy euro zone members. Should Greece default, contagion to other countries might still occur.
- Financial Select Sector SPDR (NYSE: XLF) down 1.49 percent to $13.92. The move in the ETF is being led by Bank of America (NYSE: BAC) today, which was downgraded at Goldman Sachs from Buy to Neutral with an $8 price target. Goldman also made other moves in the financial sector today as well.
- SPDR S&P 500 (NYSE: SPY) down 0.83 percent to $130.73. U.S. markets are lower overall Monday on news out of Greece. Dow Jones is off about 0.6 percent, Nasdaq is down 0.3 percent, and S&P 500 is 0.7 percent lower.
- iShares FTSE China 25 Index Fund (NYSE: FXI) down 3.12 percent to $38.37. Officials in China delayed the cutting of bank reserve requirements following the New Year holiday in China, which led to weaker-than-expected retail and real estate sales.
According to Centaline Property Agency, unit sales in four key markets were 109 units last week, down 66 percent from the same period last year. Retail sales rose 16.2 percent to about$74.4 billion, which was a slowdown from a 19 percent increase last year.
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