Notable ETF Movers of the Day 12/21: (USO) (XLU) (EWT) Higher; (XLK) (FXI) (QQQ) Lower

December 21, 2011 12:20 PM EST
Gainers
  • United States Oil (NYSE: USO) up 1.00 percent to $37.93. The EIA reported that crude inventories fell 10.6 million barrels Wednesday, much further than the 2.3 million barrel drop expected.

  • Utilities Select Sector SPDR (NYSE: XLU) up 0.71 percent to $35.22. Being led higher today by American Electric Power (NYSE: AEP), which is up 1.2 percent on the session, after it and Chesapeake Energy Marketing, Inc., a wholly owned subsidiary of Chesapeake Energy Corporation (NYSE: CHK), announced their intention to advance the development of the Ohio Pipeline Energy Network (OPEN) project, a proposed expansion of the Texas Eastern pipeline system that will connect Ohio's Utica and Marcellus shale gas supplies with the fast-growing markets attached to the Texas Eastern system

  • iShares MSCI Taiwan Index (NYSE: EWT) up 2.50 percent to $11.50. Stocks in Taiwan made a huge surge, following reports that the government would allow its National Stabilization Fund to buy equities in an effort to support domestic markets.
Receders
  • Technology Select Sector SPDR (NYSE: XLK) down 2.54 percent to $24.79. No surprise here. The ETF is lower on Oracle (Nasdaq: ORCL), which is down well over 10 percent Wednesday following a second-quarter earnings miss. Click here for more color.

  • iShares FTSE China 25 Index Fund (NYSE: FXI) down 2.65 percent to $34.11. China shares are lower for a third session as banks tightened cash stores in order to meet year-end reserve-ratio requirements. Additionally, large Chinese insurer Ping An fell after announcing plans for a $4.1 billion capital raise.

  • PowerShares QQQ (Nasdaq: QQQ) down 2.35 percent to $54.62. U.S. markets are lower overall Wednesday, with Nasdaq being led by Oracle. In Europe, the European Central Bank (ECB) allotted €489.19 billion to 523 eurozone banks, which was larger than anticipated. The financing is the first of two scheduled.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

ETFs, Special Reports

Related Entities

European Central Bank, Crude Oil, Notable ETF Movers, Earnings