iShares S&P 500 (IVV): -0.2%
United States Oil Fund (USO): -0.7%
iShares Russell 2000 (IWM): -0.4%
iShares MSCI Emerging Markets Index (
United States Natural Gas Fund (UNG): -0.5%
Pre-Market ETF Most Actives:
Winners and Losers
Broad-market ETFs are trading lower as SPY, QQQ and IVV are all
trending to the downside along with major-market index futures.
Investor sentiment is decidedly downbeat after China said it would
raise interest rates by a quarter-point and investors geared up for
employment data due later in the week.
Active financial issues are mixed in pre-market trading with C
down 0.4%, GS up 0.01%, WFC up 0.1% and JPM down 0.8%. Likewise,
bullish financial ETFs are trading to the downside with the
Direxion Daily Financial Bull (
) down 1.7% and the Financial Select Sector SPDR (XLF) trading down
Investors were eying the decision by the People's Bank of China
to raise interest rates by 25 basis points, which is the third such
change this year for China. In addition, Moody's cut Portugal's
debt rating to junk status, a move that is pressuring European and
Active tech shares are lower. Among the big-name downside movers
are Apple (
), down 0.4%; Intel (INTC), down 0.7%; Microsoft (MSFT), down 0.4%
Google (GOOG), down 0.1%.
Still the Technology Select Sector SPDR (XLK), is show some
positive momentum in the early going, trading up 0.5%. Software
), iShares S&P GSTI Software Index Fund (
), Merrill Lynch Internet Architecture HOLDRs (IAH), Morgan Stanley
Technology (MTK) and First Trust Nasdaq 100 Technology (QTEC) are
flat in pre-market trading.
Consumer shares are mixed this morning with Walgreen Co. (WAG)
tipping up 0.1% and Walt Disney Co. (DIS) moving up 0.1%. Wal-Mart
Stores (WMT) is down 0.2% ahead of the open. Major consumer ETF
SPDR S&P Retail (XRT) is down 0.3%.
Walgreen reported June sales of $6.04 billion this morning, an
increase of 6.8 percent from $5.65 billion for the same month in
2010. Sales in comparable stores (those open at least a year)
increased 4.8 percent. The effect of calendar day shifts positively
impacted total comparable sales by 0.2 percentage point.
Commodities and Mining -
After posting strong gains yesterday, commodity metal ETFs are
slipping in the early going, with SPDR Gold Shares (GLD) is down
0.1%. Market Vectors Gold Miners (GDX) is down 0.2%. iShares Silver
Trust (SLV) is down 0.7%. ProShares UltraShort Silver (ZSL) is up
1.1% and remains an active-volume mover.
Power Play -
Look for positive momentum in bearish financial ETFs today
following China's interest rate move. Bearish counterpart Direxion
Daily Financial (FAZ) is up 1.6% in pre-market trading. Other
bearish ETF issues that could see attention are ProShares
UltraShort Financials (SKF) and Short Financials ProShares ETF
Bank of America (BAC) is seeing solid liquidity moving into the
shares in pre-market action, but shares of the bank continue to
fight gravity, now trading down 1.6%.
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