ETF Morning Call: Earnings Driving Markets

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International

Asia

  • Asian stock indexes advanced led by gains in financial-sector equities. Weakness in industrial and raw-material companies kept a lid on the rally.
  • The Nikkei rose 0.04 percent; S&P/ASX 200 advanced 0.2 percent; Hang Seng gained 1.2 percent; KOSPI increased 0.23 percent; the Shanghai Composite climbed 0.37 percent.

Europe

  • European stock indexes declined today due to weak corporate earnings. Weakness in the U.S. stock market also weighed on markets. Look for declines in the Vanguard MSCI Europe ETF (NYSEArca:VGK).
  • Industrial production for the EMU dropped 2.5 percent in October. The drop was steeper than the 1.8 percent analysts had expected, and a sharp turn from the 0.9 percent increase seen in September. Output in Germany, France and Portugal in October fell 2.1 percent, 2.7 percent and 12 percent, respectively.

Domestic

  • U.S. stock futures reversed direction after Monday's sell-off and advanced due to Cisco's strong earnings report, but it remained cautious ahead of retail sales data.
  • Analysts estimate that retail sales, including cars and gasoline, fell 0.1 percent in October after having seen a 1.1 increase in September.

Earnings

No major earnings affecting ETFs today.

Commodities

All commodities news is as of 6:55 a.m. ET.

Gold and Silver Fell

  • Gold declined 0.14 percent, or $2.45, to $1729.35. Expect a decline in the SPDR Gold Shares ETF (NYSEArca:GLD).
  • Silver dropped 0.05 percent, or $0.02, to $32.48. Expect decreases in the iShares Silver Trust (NYSEArca:SLV).

WTI and Brent Oil Gained

  • The December contract for WTI crude oil advanced 0.20 percent, or $0.17, to $85.55 per barrel.
  • The December contract for Brent crude oil climbed 0.23 percent, or $0.25, to $108.51 per barrel.
  • Expect increases in the United States Oil Fund (NYSEArca:USO) and in the United States Brent Oil Fund (NYSEArca:BNO).

Fund Flows

None as of yet today

ETF Launches

None as of yet today

ETF Filings

None as of yet today

Economic Calendar

Domestic

  • Producer Price Index - 8:30 a.m. ET
  • Retail Sales - 8:30 a.m. ET
  • Business Inventories - 10:00 a.m. ET
  • FOMC Minutes - 2:00 p.m. ET

Europe

  • France

◦      CPI - 2:45 a.m. ET

  • U.K.

◦      Labour Market Report - 4:30 a.m. ET

  • EMU

◦      Industrial Production - 5:00 a.m. ET

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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.



This article appears in: Investing , ETFs

Referenced Stocks: BNO , GLD , SLV , USO , VGK

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