ETF Preview: Broad Market ETFs Edge Higher; Emerging Markets Funds Strong

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

SPDR S&P 500 ETF Trust ( SPY ): -0.33%

iShares MSCI Emerging Markets Index ( EEM ): -1.58%


iPath S&P 500 VIX Short Term Futures ( VXX ): +2.30%

iShares Russell 2000 Index ( IWM ): -0.53%

Select Financial Sector SPDRs ( XLF ): -0.55%

Pre-Market Movers

SPY +0.11%

EEM +0.9%

VXX -0.65%

GDX +0.76%

XLF +0.4%

Broad Market Indicators

Broad-market exchange-traded funds, including SPY, IWM, IVV and others, are recovering from Wednesday's losses to trade slightly higher pre-market. Actively traded PowerShares QQQ (QQQ) is up 0.2%. Emerging market funds are among the top performers, with the iShares MSCI Brazil fund (EWZ) up 1.8%.

U.S. stocks are pointing to a higher start after six days of losses following positive economic data from the EU and China. However, weaker-than-expected U.S. jobless numbers may hold back gains. Initial jobless claims increased 13,000 to a greater-than-expected 336,000. The week prior was revised upward to 323,000.

Winners and Losers

Financial -

Select Financial Sector SPDRs ( XLF ) is edging higher. Direxion Daily Financial Bull 3X shares (FAS) is up 0.77%. Its bearish counterpart, FAZ, was down 0.64%.

Among financial stocks, Northrim BanCorp, Inc. (NRIM) announced that Christopher J. Knudson has resigned his position as Chief Operating Officer of the company and of Northrim Bank, effective August 16, 2013. CFO Joe Schierhorn will assume the COO role and continue his responsibilities as CFO. The shares are flat pre-bell.

Industrial -

Select Sector SPDR-Industrial (XLI) is flat, while other industrial ETFs Vanguard Industrials (VIS) and iShares Trust Dow Jones U.S. Industrial Sector Index Fund (IYJ) are also unchanged pre-bell after losses on Wednesday.

Among stocks, Royal Caribbean Cruises (RCL) has called off Alaska cruises this year after Celebrity Cruises ship developed a problem with one of its two propulsion motors, Reuters reports this morning. RCL shares are flat at $38.24 in pre-market trade.

Energy -

Dow Jones U.S. Energy Fund (IYE) and Energy Select Sector SPDR (XLE) are unchanged after modest declines in Wednesday's session.

In sector news, Peabody Energy Corporation (BTU) has named Glenn Kellow to the position of President and Chief Operating Officer. He has most recently served as President of the aluminum and nickel business for BHP Billiton.

BTU edged higher by 3 cents to $16.62 in pre-market trade.

Commodities -

Crude is up 0.15%, while United States Oil Fund (USO) is unchanged. Natural gas was up 1.1% and United States Natural Gas Fund (UNG) was up 0.98%.

Gold is just moving into positive territory and SPDR Gold Trust (GLD) is up 0.3%; silver prices were up 0.79% while iShares Silver Trust (SLV) was up 1.6%.

Consumer -

Consumer Staples Select Sector SPDR (XLP) is 0.1% higher: other consumer ETFs iShares Dow Jones US Consumer Goods (IYK), and Vanguard Consumer Staples ETF (VDC) are unchanged after dropping in Wednesday's session.

In sector news, Abercrombie & Fitch (ANF) is down 16.881% at $38.90 in pre-market trading after the company reported that Q2 GAAP EPS of $0.14, missing the Capital IQ GAAP consensus estimate of $0.28. Revenues of $945.7 million also fell short of the consensus of $998.06 million.

Healthcare -

Health Care SPDR (XLV), Vanguard Health Care ETF (VHT), and iShares Dow Jones US Healthcare (IYH) are unchanged pre-market, though may move higher as healthcare stocks are generally firmer today. Meanwhile, Biotech ETF iShares NASDAQ Biotechnology Index (IBB) is flat after a near 1% gain on Wednesday.

In corporate news, Navidea Biopharmaceuticals (NAVB), a biopharmaceutical company focused on precision diagnostic radiopharmaceuticals, is up 4% at $2.87 pre-market as it says it has reached agreement with the U.S. Food and Drug Administration for two special protocol assessments for the company's pivotal Phase 3 program with NAV5001 as an aid in the differential diagnosis of Parkinsonian Syndromes from non-Parkinsonian tremor.

Technology -

Technology Select Sector SPDR ETF (XLK); iShares Dow Jones US Technology ETF (IYW), iShares S&P North American Technology ETF (IGM) and iShares S&P North American Technology-Software Index (IGV) all posted losses on Wednesday and are unchanged so far.

Semiconductor ETFs, SPDR S&P Semiconductor (XSD) and Semiconductor Sector Index Fund (SOXX) are slightly lower.

SPDR S&P International Technology Sector ETF (IPK) was flat.

In sector news, SunEdison (SUNE) rose nearly 9% in pre-market trading to $7.40 after saying its board has approved an initial public offering of its semiconductor business to create SunEdison Semiconductor. SUNE will sell a minority ownership interest in the IPO and will use the proceeds to fund initiatives related to its solar business and to repay debt.



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: EEM , IWM , SPY , VXX , XLF

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