ETF Morning Call: Fiscal Cliff, Data In Focus

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International

Asia

  • Asian stock indexes sank as investors focused on the U.S. budget debate and China's selection of leaders.
  • The Nikkei declined 1.51 percent; S&P/ASX 200 dropped 0.72 percent; Hang Seng plunged 2.41 percent; KOSPI fell 1.19 percent; the Shanghai Composite slipped 1.63 percent.
  • Chinese industrial production grew 9.4 percent in October from the previous year, a better rate of growth than the one seen in September.
  • Chinese retail sales surged 14 percent in October and were greater than the 1.46 percent increase in September.

Europe

  • European stock indexes climbed after strong earnings results from Swiss Re and Hermes International. Look for increases in the Vanguard MSCI Europe ETF (NYSEArca:VGK).

Domestic

  • U.S. stock futures advanced, but eyes were on jobless claims and the ECB interest rate announcement.
  • Analysts estimate that weekly jobless claims increased by 7,000 to 370,000 this week. They also estimated the trade deficit increased to $45.4 billion from $44.2 billion due to a decrease in exports mainly owing to higher oil prices.

Earnings

No major earnings news affecting ETFs today.

Commodities

All commodities news is as of 7 a.m. ET.

Gold and Silver Drop

  • Gold declined 0.14 percent, or $2.47, to $1715.28. Expect a decline in the SPDR Gold Shares physical bullion ETF (NYSEArca:GLD).
  • Silver descended 0.26 percent, or $0.08, to $31.74. Expect decreases in the iShares Silver Trust (NYSEArca:SLV).

WTI and Brent Oil Advance

  • The December contract for WTI crude oil gained 1.03 percent, or $0.87, to $85.31 per barrel.
  • The December contract for Brent crude oil rallied 0.79 percent, or $0.84, to $107.66 per barrel.
  • Expect growth in the United States Oil Fund (NYSEArca:USO) and in the United States Brent Oil Fund (NYSEArca:BNO).

Fund Flows

On Wednesday, Nov. 7, 2012, the top ETF in nominal inflows was the SPDR S&P 500 (NYSEArca:SPY), with creations of $1.78 billion. The top ETF in nominal outflows was the SPDR S&P MidCap 400 (NYSEArca:MDY), with redemptions of $112.71 million.

ETF Launches

None as of yet today

ETF Filings

None as of yet today

Economic Calendar

Domestic

  • International Trade - 8:30 a.m. ET
  • Jobless Claims - 8:30 a.m. ET

Americas

  • Canada

◦      Housing Starts - 8:15 a.m. ET

◦      Merchandise Trade - 8:30 a.m. ET

Europe

  • Switzerland

◦      Unemployment - 1:45 a.m. ET

  • Germany

◦      Merchandise Trade - 2:00 a.m. ET

  • France

◦      Merchandise Trade - 2:45 a.m. ET

  • EMU

◦      Retail Sales - 5:00 a.m. ET

  • U.K.

◦      BOE Announcement - 7:00 a.m. ET

  • EMU

◦      ECB Announcement - 7:45 a.m. ET

Asia/Pacific

  • China

◦      Industrial Production - TBD

◦      Retail Sales - TBD

◦      Consumer Price Index - 8:45 p.m. ET

◦      Producer Price Index - 8:45 p.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 , MDY , SLV , SPY

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