ETF Morning Call: Global Growth In Focus

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International

Asia

  • Asian stock indexes outside of Japan slipped due to concerns about the U.S. 'fiscal cliff' situation, but the Nikkei advanced on a sharp decline in the value of the yen, which benefits exports.
  • The Nikkei soared 1.9 percent; S&P/ASX 200 dropped 0.89 percent; Hang Seng sank 1.55 percent; KOSPI fell 1.22 percent; the Shanghai Composite slumped 1.22 percent.

Europe

  • European stock indexes fell today on data that point to a eurozone recession, and concerns about the U.S. fiscal cliff. Look for declines in the Vanguard MSCI Europe ETF (NYSEArca:VGK).
  • Final-quarter flash GDP for the EMU came in 0.1 percent lower. Germany and France both expanded by 0.2 percent and Italy contracted by 0.2 percent. Many see the numbers as confirmation that the eurozone has entered into a recession for the second time in four years.

Domestic

  • U.S. stock futures climbed today ahead of jobless claims data and earnings reports from large companies such as Wal-Mart and Target.
  • Analysts estimate that jobless claims rose to 376,000 from 355,000 last week.

Earnings

Walmart

  • Third-quarter earnings - Before Market
  • Actual EPS = $1.08; Expected EPS = $1.07
  • ETF movements

◦      Market Vectors Retail ETF (NYSEArca:RTH)

◦      Consumer Staples Select Sector SPDR (NYSEArca:XLP)

◦      Vanguard Consumer Staples ETF (NYSEArca:VDC)

Commodities

All commodities news is as of 7:40 a.m. ET.

Gold and Silver Declined

  • Gold fell 0.41 percent, or $7.05, to $1719.30. Expect drops in the SPDR Gold Shares (NYSEArca:GLD).
  • Silver dropped 0.55 percent, or $0.18, to $32.50. Expect decreases in the iShares Silver Trust (NYSEArca:SLV).

WTI Slipped and Brent Oil Climbed

  • The December contract for WTI crude oil fell 0.06 percent, or $0.05, to $86.27 per barrel.
  • The December contract for Brent crude oil gained 0.99 percent, or $1.09, to $110.70 per barrel.
  • Expect declines in the United States Oil Fund (NYSEArca:USO) and advances in the United States Brent Oil Fund (NYSEArca:BNO).

Fund Flows

On Wednesday, Nov. 14, 2012, the top ETF in nominal inflows was the PowerShares QQQ ETF (NasdaqGM:QQQ), with creations of $214.69 million. The top ETF in nominal outflows was the SPDR S&P 500 (NYSEArca:SPY), with redemptions of $693.24 million.

ETF Launches

None as of yet today

ETF Filings

None as of yet today

Economic Calendar

Domestic

  • Consumer Price Index - 8:30 a.m. ET
  • Jobless Claims - 8:30 a.m. ET
  • Empire State Mfg Survey - 8:30 a.m. ET
  • Philadelphia Fed Survey - 10:00 a.m. ET
  • EIA Petroleum Status Report - 11:00 a.m. ET
  • Ben Bernanke Speaks - 1:20 p.m. ET

Americas

  • Canada

◦      Manufacturing Sales - 8:30 a.m. ET

Europe

  • France

◦      GDP Flash - 1:30 a.m. ET

  • Germany

◦      GDP Flash - 2:00 a.m. ET

  • Italy

◦      GDP - 4:00 a.m. ET

  • U.K.

◦      Retail Sales - 4:30 a.m. ET

  • EMU

◦      GDP Flash - 5:00 a.m. ET

◦      HICP - 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: GLD , QQQ , RTH , SLV , XLP

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