ETF Mid-Day Update: Markets Mostly Lower After Disappointing Results From Apple, Amazon.com

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Active broad-market exchange-traded funds at mid-day:

SPDR S&P 500 ( SPY ): -0.37%

iShares MSCI Emerging Markets Index ( EEM ): -0.87%

Financial Select Sector SPDR ( XLF ): -0.69%

PowerShares QQQ Trust, Series 1 ( QQQ ): -0.32%

iShares Russell 2000 Index ( IWN ): -0.82%

Stocks are modestly lower today following disappointing earnings from Dow and Nasdaq bellwethers Apple (AAPL) and Amazon.com (AMZN). Helping U.S. equity markets fend off a bigger downdraft was the U.S. government report that Q3 GDP weighed in at 2.0%, topping the Dow Jones compiled analyst forecast of 1.8%.

The University of Michigan Consumer Sentiment reading weighed in with a final 82.6 reading this month, its highest level since September 2007. Economists had projected an 83 reading following a preliminary October reading of 83.1, according to the median forecast of 60 economists surveyed by Bloomberg News.

Winners and Losers

Financial -

Among financial ETFs, Financial Select Sector SPDRs are down nearly 1%; Direxion Daily Financial Bull 3X Shares (FAS) are down 2.1%; Its bearish counterpart, the Direxion Daily Financial Bear 3X Shares are up 2%.

In sector news, shares of Federated Investors (FII) are up about 5.5% today after the company reported Q3 earnings of $0.54, beating the Capital IQ consensus estimate of $0.41 a share. Revenues of $238.5 million, however, missed the consensus by $3.1 million.

Technology -

Among tech ETFs, the iShares Dow Jones US Technology ETF (IYW) is down 0.43%; the Technology Select Sector SPDR ETF (XLK) is down 0.35%; the iShares S&P North American Tech-Software Index (IGM) is down 0.2%; and the iShares S&P North American Tech-Software ETF (IGV) is down 0.78%.

Among chip-maker ETFs, the SPDR S&P Semiconductor fund (XSD) is up 0.88% while the iShares PHLX SOX Semiconductor Sector fund (SOXX) has turned slightly positive. The SPDR S&P International Technology Sector ETF is down 1.82%.

In sector news, Web.com Group (WWWW) is down +10% after beating expectations by $0.02 with Q3 earnings of $0.41 a share. Revenues climbed 167.1% to $124.2 million, trailing estimates by $2.47 million.

Energy -

Energy ETFs are lower today, with the Dow Jones U.S. Energy Fund (IYE) down 0.17% while the Energy Select Sector SPDR (XLE) is down 0.13%.

In energy sector news, Carrizo Oil & Gas Inc. (CRZO) is ahead nearly 4% with the company's stock slated to replace Overseas Shipholding Group (OSG) in the S&P SmallCap 600 index after the close of trading on Monday, Oct. 29.

Commodities -

Crude oil for December delivery is down 0.35% while November natural gas is down 1.46%. Among energy ETFs, the U.S. Oil Fund (USO) is down 0.47% and the U.S. Natural Gas fund (UNG) is down 0.81%.

December gold is up 0.15% while December silver is up 0.46%. Among precious-metal funds, the SPDR Gold Shares Trust (GLD) is flat and the iShares Silver Trust (SLV) has turned slightly down.

Healthcare -

Healthcare ETFs are mostly lower. The Healthcare SPDR ETF (XLV) is down 0.52%; the Vanguard Health Care ETF (VHT) is down 0.88%; the iShares Dow Jones US Healthcare fund (IYH) is down 0.59%; and the Biotech ETF iShares NASDAQ Biotechnology Index (IBB) is down 1.25%.

In sector news, Varian Medical Systems Inc. (VAR) is up 15% after reporting Q4 earnings of $1.08 per share, $0.05 better than the Capital IQ consensus. Revenues rose 5.1% to $756.1 million, also beating estimates by $8.44 million.

Consumer -

Consumer ETFs are lower today. The Consumer Staples Select Sector SPDR ETF (XLP) is down 0.42%; the iShares Dow Jones US Consumer Goods (IYK) is down 0.73%; and the Vanguard Consumer Staples ETF (VDC) is down 0.5%.

Among retail ETFs, the SPDR S&P Retail ETF (XRT) is down 0.6%; the PowerShares Dynamic Retail fund (PMR) is down 0.24%; and the Market Vectors Retail ETF (RTH) is down 0.38%.

In sector news, Expedia (EXPE) is up more than 11% and closer to year highs after the online-reservation company reported Q3 earning of $1.32 a share, up from $1.28 last year and beating estimates by $0.06. Revenue rose 16.6% year over year to $1.19 billion, also beating estimates by $20 million.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: EEM , IWN , QQQ , SPY , XLF

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