The rough start to the week had a number worried over the fate of Q2, but the past two days have seen the bull train get back on track, as investors have cheered on positive data and earnings releases. Today saw Google beat estimates after the bell as well as announce an essential stock split. as they will be offering a new, non-voting share class; shares rose more than 6% in after hours trading. The Dow finished off the day with a jump of 180 points, while the S&P 500 tacked on 1.4% in one of the best sessions in recent memory [see also Defensive Equity ETFs For Earnings Season ].

On the commodities side of things, gold started off the day in the gutters, but was able to rally by nearly 17 points as mid-day buying sparked a strong day for the precious metal. Crude oil also made positive strides, as the price per barrel jumped by nearly $1. Crude has been at the center of debate recently, as many believe that higher prices could hurt the economy, while others feel that it is just a necessity that Americans will have to face sooner or later. In an effort to keep investors up to date with todays fast-paced financial markets, we outline two of the most significant ETF movers for Thursdays market [see also Why No Investor Should Own GLD ].

One of the biggest winners on the day came from the FTSE China 25 Index Fund (FXI ), which gained roughly 3.5% during market hours. While FXI has been known to be a big mover, todays gains fall way above the norm, as investors made speculative bets on Chinas GDP results tomorrow, which figure to be a major mover. A very specific rumor circulated that China’s first quarter GDP will come in at 9 percent, rather than the expected 8.4 percent, when released overnight.  Whether the rumor is true or not did not matter to traders writes Patti Domm. Todays jump puts FXI up around 7% on the year [see also ].

One of the biggest ETF losers on the day came from the S&P 500 VIX Short-Term Futures ETN (VXX ) which lost a monumental 8.6% on the day. VXX is no stranger to big gains and losses, but even 8% is a bit steep. With markets rallying big over the course of the last two days, this ETN quickly lost any momentum it had going, as it is back to losses of 50% on the year. Note that VXXs low price may make it an enticing buy for those looking to get in on the cheap, but beware that Googles strong earnings and Chinas alleged GDP gain are setting the stage for a strong close to a busy week [see also Time To Buy VIX ETNs? ].

Disclosure: No positions at time of writing.

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