Notable ETF Movers of the Day 05/24: (EPI) (SLV) (VXX) Higher; (UNG) (FXI) Lower
- Wall Street opens higher as taper fears ease
- China Tells Local Authorities to Prepare For a 'Possible Storm' and Prevent Unrest as Evergrande Crisis Unravels - WSJ
- Salesforce (CRM) Raises FY22 Revenue Guidance; Initiates FY23 Revenue
- Oil prices at two-month highs on tight supplies
- IDFA Seen as a 'Real Headwind' for Facebook (FB) but Analysts Remain Positive
- WisdomTree India Earnings (NYSE: EPI) up 1.91 percent to $15.99. Fuel price hikes gave investors hope that the Indian government might finally be making some stronger moves on its fuel subsidies, a noted contributor to the country's fiscal deficit.
- iShares Silver Trust (NYSE: SLV) up 1.81 percent to $27.54. Speculative buying in the precious metal is pushing prices higher following lack of results from the recent EU summit, held the euro in check with traders now eying June 17th elections in Greece. With silver being slightly oversold into May, traders might be gobbling up the commodity looking for prices to return to the near-$40/ounce level seen in March.
- iPath S&P 500 VIX Short-Term Futures ETN (NYSE: VXX) up 2.81 percent to $20.85. The CBOE VIX near-term index is a little higher on the session amid the EU summit and light quarterly reports from the likes of tech giant Hewlett-Packard (NYSE: HPQ) and jeweler Tiffany & Co. (NYSE: TIF).
- United States Natural Gas (NYSE: UNG) down 0.73 percent to $19.28. Nat gas continued seeing pressure following weekly inventory data from the EIA showing an increase in stockpiles of 77 billion cubic feet, compared with expectations of a 75 to 79 bcf rise. Whisper numbers on the Street were looking for a lower increase, below the bottom rung of the range.
- iShares FTSE China 25 Index Fund (NYSE: FXI) down 1.50 percent to $32.75. China stocks falling following preliminary PMI data from HSBC showing a slowdown to 48.7 in May, from 49.3 in April. Levels below 50 indicate manufacturing consolidation.
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