ETF Preview; Broad Market ETFs Gain Pre-Market: Commodities Funds Weak

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

SPDR S&P 500 ( SPY ): +0.11%

iShares MSCI Emerging Markets Index ( EEM ): +0.40%

iShares Russell 2000 Index ( IWM ): +0.02%

iShares MSCI Japan ETF ( EWJ ): -0.41%

iPath S&P 500 VIX ST Futures ETN ( VXX ): -1.82%

Pre-Market Movers

CU -4.6%

NUGT -2.5%

AGQ - 1.2%

DUST +2.47%

XIV +0.7%

Broad Market Indicators

Broad-market exchange-traded funds, including SPY, IWM and IVV were slightly higher in pre-market trading . Likewise, actively traded PowerShares QQQ (QQQ) was up 0.08% after setting a new 13-year high on Wednesday. Commodities linked funds were among the worse performers in line with declines in precious metal prices.

U.S. stock futures are pointing to a higher open in the shortened pre-Independence Day session. The market closes at 1 p.m. ET today. Indices extended their records on Thursday and may get a further boost from positive jobs data. June private payrolls came in at 262,000 versus 210,000 estimates, while the June unemployment rate fell to 6.1% from 6.3%.

Power Play: Financial

Select Financial Sector SPDRs (XLF) was flat, but near multi-year highs. Direxion Daily Financial Bull 3X shares (FAS) was also unchanged, but was trending lower after hours. Its bearish counterpart, FAZ, was down 0.4%.

Among sector news, Doral Financial (DRL) continues to benefit from a Puerto Rican court ruling in a case relating to a $230 million tax payment, with shares jumping more than 13% pre-market. The company confirmed Wednesday that it won an appeal against Puerto Rico, Puerto Rico's Treasury and its Secretary, Hon. Melba Acosta Febo, after a lower court claimed it had no jurisdiction to rule on the case. The shares in the lender spiked 75% on Wednesday and recently traded at $8.00, still in the lower band of the 52-week range of $1.87 - $25.00.

Winners and Losers

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) are unchanged after closing mixed on Wednesday. SPDR S&P International Technology Sector ETF (IPK) was flat.

Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) closed lower while Semiconductor Sector Index Fund (SOXX) rose. Both are inactive pre-bell.

In corporate news, API Technologies (ATNY) shares were higher nearly 10% in recent pre-market trade after saying it won an order to supply high-power amplifier systems as part of the U.S. Department of Defense's maritime requirement.

ATNY is trading in the lower half of the 52-week range between $2.20 and $3.86. The provider of high performance RF/microwave, power and security solutions for critical and high-reliability applications said the initial order is part of a multi-million dollar program with first production delivery set for May 2015.

Energy

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

In sector news, Uranium producer Energy Fuels (UUUU, EFR.TO) has signed an agreement to sell certain of its non-core uranium assets to a private investor group for approximately US$2.05 million in cash. The buyers will assume all reclamation obligations and replace all existing reclamation bonds totaling US$700,000. The assets include the Pinon Ridge mill license and certain other mining assets located along the Colorado-Utah border.

Commodities

Crude was down 0.62%; United States Oil Fund (USO) was down 0.4%. Natural gas was up 0.44% and United States Natural Gas Fund (UNG) was flat after closing down almost 2%.

Gold was down 0.8% and silver fell 1.28%. Among rare metal funds, SPDR Gold Trust (GLD) was down 0.5% and iShares Silver Trust (SLV) was down 0.5%.

Consumer

Consumer Staples Select Sector SPDR (XLP), iShares Dow Jones US Consumer Goods (IYK), and Vanguard Consumer Staples ETF (VDC) are all unchanged pre-market and closed higher on Wednesday.

Among stocks, American Apparel (APP) shares jumped in Thursday's pre-market session after a late-Wednesday report from Reuters citing two sources close to the matter said the apparel retailer's ousted CEO, Dov Charney, has handed over his entire stake and voting rights in the company to Standard General LP, enabling the fund to negotiate directly with the independent directors over the company's future.

Health Care

Health Care SPDR (XLV), iShares Dow Jones US Healthcare (IYH) and Vanguard Health Care ETF (VHT) were closed mixed, after touching record highs. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) was unchanged.

In corporate news, InterMune (ITMN) is higher in pre-market trading after the biotechnology company focused on the research, development and commercialization of therapies in pulmonology and orphan fibrotic diseases confirmed in a regulatory filing Thursday that the U.S. Food and Drug Administration (FDA) has acknowledged receipt of the resubmitted Class 2 New Drug Application for pirfenidone, which the company resubmitted to the FDA on May 23, 2014. Shares are up 1.93% at $45, with a 52-week range of $9.60 - $47.65.



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 , IWM , EWJ , VXX

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