ETF Preview: Broad Market ETFs Gain, Emerging Market Funds Active on Strong China Data


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

iShares MSCI Emerging Markets Index ( EEM ): +1.94%

SPDR S&P 500 ETF Trust ( SPY ): +0.65%

iPath S&P 500 VIX Short Term Futures ( VXX ): -3.04%

iShares MSCI Brazil Index ( EWZ ): +2.87%

Pre-Market Movers

EEM +0.5%

SPY +0.57

INDL +6.39%

DUST +6.1%

NUGT -5.6%

Broad Market Indicators

Broad-market exchange-traded funds, including SPY, IWM, IVV and others, were firmer. Actively traded PowerShares QQQ ( QQQ ) was up 0.54%. Emerging market funds were active after better-than-expected economic data from China, with the Direxion Daily India Bull Fund (INDL) gaining 6.3% pre-bell.

U.S. stocks futures are pointing to a higher start as the threat of imminent U.S. military strikes against Syria receded and data from China showed the economy there may be stabilizing after a two-year slowdown. China reported stronger-than-expected industrial output and retail sales that rose at their fastest pace this year.

Winners and Losers

Financial -

Select Financial Sector SPDRs (XLF) was up 0.85%. Direxion Daily Financial Bull 3X shares (FAS) was up 2.2%. Its bearish counterpart, FAZ, was down 2.37%.

Among financial stocks, Tower Financial (TOFC) has agreed to be bought by Old National Bancorp (ONB) in a cash and stock merger. TOFC will receive 1.20 shares of ONB common stock and $6.75 in cash (fixed) for each share of TOFC common stock. Based upon the September 5, closing price of $13.52 per share of ONB common stock, the transaction is valued at approximately $107.7 million.

Technology -

Technology Select Sector SPDR ETF (XLK) was flat 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) are all unchanged, but trading close to their 52-week highs.

Among semiconductor ETFs, SPDR S&P Semiconductor (XSD), Semiconductor Sector Index Fund (SOXX), and SPDR S&P International Technology Sector ETF (IPK) also continue to trade near the top of their 52-week ranges. The funds closed higher on Monday.

In sector news,

Energy -

Dow Jones U.S. Energy Fund (IYE) was unchanged and Energy Select Sector SPDR (XLE) was up 0.57%. Both funds are near the top of their 52-week ranges.

In sector news, Abraxas (AXAS) shares are flat at $2.52 as it provides an operational update on its well operations. Abraxas' 40-acre pilot wells, the Camaro B 3H and Camaro B 4H, averaged 739 boepd (691 barrels of oil per day, 289 mcf of natural gas per day) and 808 boepd (755 barrels of oil per day, 319 mcf of natural gas per day) over each well's first 30 full days of production, respectively.

Commodities -

Crude was down 1.82% as the threat of immediate U.S. military action against Syria receded. United States Oil Fund (USO) was down 1.4%. Natural gas was down 0.79%, and United States Natural Gas Fund (UNG) was down 0.74%.

Gold was down 1.4%, and the SPDR Gold Trust (GLD) was down 1.5%. Silver was down 1.8%; iShares Silver Trust (SLV) was down 1.8%.

Consumer -

Consumer Staples Select Sector SPDR (XLP) was up 0.15%. Among other consumer ETFs, iShares Dow Jones US Consumer Goods (IYK) and Vanguard Consumer Staples ETF (VDC) were unchanged.

In sector news, Crocs (CROX) is slumping 5% after cutting Q3 guidance. The rubber shoe company now sees revenue between $285 million and $295 million and GAAP earnings per share between $0.15 and $0.18, versus its prior outlook of revenue between $300 million and $310 million and GAAP earnings per share between $0.20 and $0.23. Analysts polled by Thomson Reuters project earnings per share of $0.23, on $305.08 million in revenues for the period. Analysts' estimates typically exclude one-time items

Healthcare -

Health Care SPDR (XLV) is leaning slightly higher: Vanguard Health Care ETF (VHT), and iShares Dow Jones US Healthcare (IYH) are flat after posting moderate gains on Monday. Biotech ETF iShares NASDAQ Biotechnology Index (IBB), was flat after touching a 52-week high of $205.70 on Monday.

In corporate news, Amicus Therapeutics (FOLD), a biopharmaceutical company at the forefront of therapies for rare and orphan diseases, has entered a collaboration with Biogen Idec (BIIB) to discover, develop and commercialize novel small molecules for the treatment of Parkinson's disease.B FOLD is up 19% at $3.03 in pre-market trade; BIIB is up 0.7% at $230.50.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: EEM , EWZ , QQQ , SPY , VXX

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