Notable ETF Movers of the Day 04/28: (UNG) (EWJ) (SLV) Higher; (FXI) (EWZ) (UUP) Lower
Gainers
- United States Natural Gas (NYSE: UNG) up 2.81 percent to $11.70. Nat gas futures commencing a bit of a rally today, following EIA data showing a 31 billion cubic feet increase in stockpiles, less than the 37 to 41 bcf that analysts were looking for. June 2011 contracts are up $0.118 to $4.526 per mmBtu on the Comex.
- iShares MSCI Japan Index (NYSE: EWJ) up 2.05 percent to $10.44. Japan stocks are gaining today as the Bank of Japan increased ts growth forecast from 0.6 percent following the March 11th earthquake, to a more firendly 2.9 percent increase through 2011.
- iShares Silver Trust (NYSE: SLV) up 2.57 percent to $48.18. Silver futures are rolling today on the weaker U.S. dollar, as investors see it as an attractive alternative to gold. July 11 contracts are up $3.458 to $49.445 per ounce on the Comex, though contracts haven't pierced the $50 level yet today.
- iShares FTSE China 25 Index Fund (NYSE: FXI) down 0.86 percent to $45.18. Markets are moving more on rumors ahead of a holiday weekend in China. Word is circulating that China will move to stem further inflation in property prices.
- iShares MSCI Brazil Index (NYSE: EWZ) down 1.55 percent to $76.68. Concerns that Brazil's central bank may not be doing enough to curb inflation are lingering. The bank rose rates just 25 basis points last meeting, compared with the 50 basis point increase that was expected. It is waiting for past measures to kick-in and help cool credit markets. Several of Brazil's major steelmakers were also lower following a tepid report from flat-rolled steel maker Usinas Siderurgicas de Minas Gerais.
- PowerShares DB US Dollar Index Bullish (NYSE: UUP) down 0.07 percent to $21.00. The U.S. dollar is seeing some selling today as Fed Chief Bernanke all but closed the potential for futher fiscal tightening yesterday. Click here for more color from his press conference.
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