Notable ETF Movers of the Day 12/06: (SMH) (VNQ) Higher; (FXE) Lower
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Gainers:
Market Vectors Semiconductor ETF (NYSE: SMH) gained 0.7 percent to 32.2. Broadcom Corp. (Nasdaq: BRCM) was the top performer among chipmakers, rising 2 percent, though most companies in the space saw gains, included Intel (Nasdaq: INTC). Hopeful investors have been crossing their fingers for a bottom in semis for weeks, and while today’s move is far from a panacea, any gain is seen as positive for the sector.
Vanguard REIT Index ETF (NYSE: VNQ) gained 0.65 percent to 64.8. A recent note by UBS painted REITs in a positive light, given today’s current economic climate. Simon Property Group Inc. (NYSE: SPG) was among today’s winners, gaining 1.5 percent on an upgrade to Buy. Boston Properties Inc. (NYSE: BXP) was also upgraded.
Decliners:
CurrencyShares Euro Trust (NYSE: FXE) declined 0.9 percent. The spot rate of EUR/USD fell on Thursday, declined below 1.30 after the ECB cut economic forecasts for 2013. At a press conference today, President Mario Draghi said Europe’s economy will contract by 0.3 percent. Previous forecasts call for growth of 0.5 percent. Of note, crude oil and United States Oil ETF (NYSE: USO) declined 2.4 percent in part because of dollar strength.
Market Vectors Semiconductor ETF (NYSE: SMH) gained 0.7 percent to 32.2. Broadcom Corp. (Nasdaq: BRCM) was the top performer among chipmakers, rising 2 percent, though most companies in the space saw gains, included Intel (Nasdaq: INTC). Hopeful investors have been crossing their fingers for a bottom in semis for weeks, and while today’s move is far from a panacea, any gain is seen as positive for the sector.
Vanguard REIT Index ETF (NYSE: VNQ) gained 0.65 percent to 64.8. A recent note by UBS painted REITs in a positive light, given today’s current economic climate. Simon Property Group Inc. (NYSE: SPG) was among today’s winners, gaining 1.5 percent on an upgrade to Buy. Boston Properties Inc. (NYSE: BXP) was also upgraded.
Decliners:
CurrencyShares Euro Trust (NYSE: FXE) declined 0.9 percent. The spot rate of EUR/USD fell on Thursday, declined below 1.30 after the ECB cut economic forecasts for 2013. At a press conference today, President Mario Draghi said Europe’s economy will contract by 0.3 percent. Previous forecasts call for growth of 0.5 percent. Of note, crude oil and United States Oil ETF (NYSE: USO) declined 2.4 percent in part because of dollar strength.
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