ETF Preview: Broad Market ETFs Edge Higher, Commodities Funds Weak

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Active broad market exchange-traded funds in Wednesday's regular session:

SPDR S&P 500 ( SPY ): +0.74%

iPath S&P 500 VIX Short Term Futures TM ( VXX ): -5.8%

ProShares Trust II ( UVXY ): +7%

iShares Russell 2000 Index ( IWM ): +1%

PowerShares QQQ Trust, Series 1 ( QQQ ) +1.4%

iShares MSCI Emerging Index Fund (EEM) +1.6%

Pre-Market Movers

DUST +4.7%

ZSL +4.1%

TQQQ +2%

AGQ -4.3%

NUGT -4.1%

Broad Market Indicators

Broad-market exchange-traded funds, including SPY, IWM, IVV and others, are all heading higher after a weaker close on Wednesday. Actively traded PowerShares QQQ ( QQQ ) is up 0.8%.

U.S. stock futures are pointing to a higher open on Thursday, after a selloff in Wednesday's session as the Federal Reserve confirmed it plans to go-ahead with the tapering of its stimulus program. Data out Thursday morning included initial jobless claims, which rose 19,000 to 348,000 topping forecasts for 330,000, while Q4 personal consumer spending disappointed after being revised up to 3.3%, below the 3.7% expected.

Power Play: Consumer

Consumer -

Consumer ETFs Consumer Staples Select Sector SPDR (XLP), iShares Dow Jones US Consumer Goods (IYK), and Vanguard Consumer Staples ETF (VDC) are unchanged after falling on Wednesday.

In corporate news, Sherwin-Williams Company (SHW) is down 4.03% at $181.50 in pre-market trading after the company reported mixed financial results for Q4, or the quarter ended Dec. 31, 2013, and issued Q1 and FY14 EPS guidance below the Street consensus.

Winners and Losers

Technology -

Tech ETFs Technology Select Sector SPDR ETF (XLK) is up 0.3% pre-market, while iShares Dow Jones US Technology ETF (IYW), iShares S&P North American Technology ETF (IGM) and S&P North American Technology-Software Index (IGV) are all unchanged.

Semiconductor ETFs, SPDR S&P Semiconductor (XSD) and Semiconductor Sector Index Fund (SOXX) and

SPDR S&P International Technology Sector ETF (IPK) were all unchanged pre-bell.

In sector news, Licensing company Wi-LAN (WILN, WIN.TO) said adjusted EPS for Q4 2013 grew C$0.08 from last year to C$0.14, beating the Thomson Reuters consensus of C$0.11. Revenues totalled C$29.2 million, up from C$21.2 million in the same period last year but is still shy of the C$29.9 million Capital IQ consensus.

Energy -

Dow Jones U.S. Energy Fund (IYE) is unchanged and Energy Select Sector SPDR (XLE) is edging higher, up 0.12%.

In corporate news, Analysts at Goldman Sachs have initiated coverage of Energy XXI (EXXI) with a Neutral rating and a price target of $28 a share. The firm said that EXXI offers a pure play on the U.S. Gulf of Mexico where it has effectively executed a business model aimed at increasing recovery from large, mature oil fields.

Commodities -

Crude is gaining 0.48%; Natural gas has plunged 4.6%. United States Oil Fund (USO) is up 0.58%. United States Natural Gas Fund (UNG) was down 4.3%.

March gold has fallen 0.5% and silver for March delivery has fallen 1.1%. Among rare metal funds, SPDR Gold Trust (GLD) has dropped 1.3%; iShares Silver Trust (SLV) is down 2.2%.

Healthcare -

Healthcare ETFs Health Care SPDR (XLV) is leaning slightly lower, while Vanguard Health Care ETF (VHT), and iShares Dow Jones US Healthcare (IYH) are flat. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) is down 0.7%.

In corporate news, Celgene Corporation (CELG) was lower more than 2% in pre-market trade after saying its Q4 earnings rose 14% to $1.51 per share but nevertheless missing the average $1.55 Capital IQ analyst estimate. Sales were higher at $1.76 million from $1.45 million a year earlier compared to the $1.7 billion consensus estimate.

Financial -

Select Financial Sector SPDRs (XLF) was up 0.38%. Direxion Daily Financial Bull 3X shares (FAS) was up 1.4%. Its bearish counterpart, FAZ, was down 1.4%.

Among financial stocks, Invesco (IVZ) reports adjusted net revenues of $857 million and operating revenue of $1.22 billion for Q4. Adjusted EPS was $0.58. The Street called for $1.2 billion in revenue. It's unclear which number is comparable. On earnings, analysts expected $0.57 per share for Q4, according to Capital IQ estimates.



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: IWM , QQQ , SPY , UVXY , VXX

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