Notable ETF Movers of the Day 01/16: (USO) Higher; (XME) (XHB) Lower
Tweet
Share
E-mail
Get Alerts CRS Hot Sheet
Up)Join SI Premium – FREE
Gainers:
United States Oil ETF (NYSE: USO) gained 0.5 percent to 34.2. WTI futures prices edged higher on Wednesday above $94 per barrel. Bullishness was driven by a surprise�decline in crude inventories. Analysts were expected a rise of 2.2 million barrels and were greeted by a decline of 951 thousand barrels. API data Tuesday showed a decline of 1 million barrels, so the impact of the larger-than-expected drop was somewhat muted, though prices reacted by climbed higher.
Decliners:
SPDR S&P Metals & Mining (NYSE: XME) declined 1.1 percent to 44.9. Weakness in the sector was broad and was traced to negative outlook by titanium and stainless steel processor Carpenter Technology (NYSE: CRS). Carpenter CEO William Wulfsohn said he sees “uncertainty in demand for lower value mill products and are performing below plan in the PEP business segment”. The disappointed results and comments created ripples that sunk related names.
SPDR S&P Homebuilders (NYSE: XHB) declined 0.5 percent to 27.7. Despite strong results by homebuilder Lennar (NYSE: LEN) yesterday, XHB is having a difficult time holding its ground Wednesday and might be slightly top-heavy after an extended rally. A January reading by the National Association of Home Builders, which measures builder confidence, was reported at 47 compared to expectations of 48. In December the index showed a reading of 47.
United States Oil ETF (NYSE: USO) gained 0.5 percent to 34.2. WTI futures prices edged higher on Wednesday above $94 per barrel. Bullishness was driven by a surprise�decline in crude inventories. Analysts were expected a rise of 2.2 million barrels and were greeted by a decline of 951 thousand barrels. API data Tuesday showed a decline of 1 million barrels, so the impact of the larger-than-expected drop was somewhat muted, though prices reacted by climbed higher.
Decliners:
SPDR S&P Metals & Mining (NYSE: XME) declined 1.1 percent to 44.9. Weakness in the sector was broad and was traced to negative outlook by titanium and stainless steel processor Carpenter Technology (NYSE: CRS). Carpenter CEO William Wulfsohn said he sees “uncertainty in demand for lower value mill products and are performing below plan in the PEP business segment”. The disappointed results and comments created ripples that sunk related names.
SPDR S&P Homebuilders (NYSE: XHB) declined 0.5 percent to 27.7. Despite strong results by homebuilder Lennar (NYSE: LEN) yesterday, XHB is having a difficult time holding its ground Wednesday and might be slightly top-heavy after an extended rally. A January reading by the National Association of Home Builders, which measures builder confidence, was reported at 47 compared to expectations of 48. In December the index showed a reading of 47.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Midday movers: Tesla, Blackstone, Las Vegas Sands fall; DR Horton rises
- Analyst warns of downside risks for GBP as BoE turns dovish
- Midday movers: Travelers, JB Hunt fall; United Airlines rises
Create E-mail Alert Related Categories
ETFs, Special ReportsRelated Entities
Crude Oil, Notable ETF Movers, NAHB Housing Market IndexSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
