ETF Preview: Broad Market ETFs Edge Higher, Tracking Stock Futures

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

SPDR S&P 500 ( SPY ): +0.31%

iShares MSCI Emerging Markets Index ( EEM ): +0.55%


iPath S&P 500 VIX ST Futures ETN ( VXX ): +4.66%

PowerShares QQQ Trust, Series 1 ( QQQ ): -0.37%

iShares Russell 2000 Index ( IWM ): -0.46%

Monday's Pre-Market Movers

SPY, +0.21%

EEM, +0.52%

VXX, -0.76%

IWM, +0.51%

QQQ,+0.27%

Broad Market Indicators

Broad-market exchange-traded funds, including SPY, IWM and IVV, were modestly higher in Monday's pre-market trading . Actively traded PowerShares QQQ ( QQQ ) was up 0.3%.

U.S. stock futures were also edging higher Monday morning, as investors sought to regain lost ground from last week's decline, which included the largest drop in two years for the Standard & Poor's 500 index. With no economic data scheduled for Monday's trading session, Wall Street will likely focus on a number of earnings reports; among the latest, Michael Kors (KORS) slipped lower after providing weak fiscal Q2 and FY15 guidance despite better-than-expected fical Q1 results.

Power Play: Consumer

Consumer Staples Select Sector SPDR (XLP), iShares Dow Jones US Consumer Goods (IYK), and Vanguard Consumer Staples ETF (VDC) were flat.

Retail ETFs SPDR S&P Retail (XRT), PowerShares Dynamic Retail (PMR), and Market Vectors Retail ETF (RTH) were unchanged.

Women's clothing producer Michael Kors (KORS) was down 4% after reporting fiscal Q1 earnings and revenue that topped the Street view, as its guidance for Q2 and FY 2015 missed expectations. KORS was down 3.5% at $78.80 in recent pre-market trading Monday.

Winners and Losers

Financial

Select Financial Sector SPDRs (XLF) was down flat; Direxion Daily Financial Bull 3X shares (FAS) was up 1% while its bearish counterpart, Direxion Daily Financial Bear 3X shares (FAZ) was down 0.5%.

CNA Financial (CNA) reported a slight increase in net operating income for Q2, ahead of the Street view. Its board also approved the payment of a quarterly dividend. The insurance company reported net operating income of $272 million, or $1 per diluted share, up from a net operating income of $199 million, or $0.74 per diluted share, a year earlier.

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

Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) and Semiconductor Sector Index Fund (SOXX) were unchanged.

SuperCom (SPCB) was up 11% after the provider of traditional and digital identity solutions named a new financial chief and separately said it was selected as the winning bidder for new contracts representing more than $22 million in size. The company named Simona Green as its new CFO, to succeed Doron Ilan. Green previously served as vice president of finance and operation at Mercury Scientific & Industrial Products. Under the $22 million in new contracts, the company said it will provide its various core and flexible electronic-ID solutions, with potential for additional follow-on orders in the future as is commonly realized with new customers.

Energy

Dow Jones U.S. Energy Fund (IYE) and Energy Select Sector SPDR (XLE) were both flat.

Seventy Seven Energy (SSE) reported its first quarter of earnings as a standalone public company. The oilfield-services company, spun off from Chesapeake Energy on June 30, reported Q2 adjusted net income of $0.17 per diluted share. Analyst estimates weren't available. Total revenue of $549.46 million was down from $583.06 million in Q2 2013.

Commodities

Crude was down 0.25%; natural gas was up 0.9%. United States Oil Fund (USO) was flat; United States Natural Gas Fund (UNG) was up 0.5%.

Gold was down 0.2%, and silver was up 0.1%. Among rare metal funds, SPDR Gold Trust (GLD) was up 0.01% and iShares Silver Trust (SLV) was flat.

Health Care

Health Care SPDR (XLV) was up 0.3% while health-care funds iShares Dow Jones US Healthcare (IYH) and Vanguard Health Care ETF (VHT) were unchanged. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) was flat.

NanoViricides (NNVC) was up 13% after the nanobiopharmaceutical company said Monday that it is restarting its program for the development of a drug that would fight Ebola virus infections, following the recent Ebola outbreak in West Africa, which has been declared by the World Health Organization as the deadliest so far. There are currently no licensed drugs or vaccines for Ebola, although some vaccines as well as some drug candidates have entered clinical trials.



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: SPY , EEM , VXX , QQQ , IWM

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