Notable ETF Movers of the Day 10/31: (VXX) (UUP) High; (FXY) (FXI) (TAN) Lower
Gainers
Receders
- iPath S&P 500 VIX Short-Term Futures ETN (NYSE: VXX) up 4.61 percent to $37.93. The CBOE VIX volatility indicator is about 11 percent better Monday, closing in on the $30 level. Investors might be positioning themselves for Fed comments Wednesday, as well as nonfarm payroll numbers for the month of October on Friday. Today, the Organization of Economic Cooperation and Development (OECD) said issues like the euro area debt crisis and U.S. fiscal policy are likely to add pressure to GDP growth over the next two years.
- PowerShares DB US Dollar Index Bullish (NYSE: UUP) up 1.39 percent to $21.45. The U.S. dollar moving higher as Japan intervened to stem yens inflation against the dollar. Some are still speculative of whether the move will work, consider the last intervention by Japan in September 2010, which did little to stop inflation. The move sent the dollar markedly higher Monday.
Receders
- CurrencyShares Japanese Yen Trust (NYSE: FXY) down 2.92 percent to $126.29. The other side of Japan's yen intervention. U.S. dollar's are up about 2.9 percent to ¥78.02.
- iShares FTSE China 25 Index Fund (NYSE: FXI) down 3.28 percent to $36.55. China stocks losing some steam as premier Wen Jiabao said local governments should work to keep property controls tight. China's State Council said property curbs should remain tight, while other economic policies will be adjusted "at an appropriate time."
- Guggenheim Solar (NYSE: TAN) down 5.80 percent to $3.57. Solars are under tremendous pressure Monday, following reports the U.K. might move to cut subsidies by as much as 50 to 55 percent. Trina Solar (NYSE: TSL) is leading the move lower, down as much as 12.4 percent on the session.
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