ETF Preview: Broad Market ETFs Mixed; Gold, Silver Funds Slump as Precious Metal Prices Decline

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

SPDR S&P 500 ETF Trust ( SPY ): +0.15%

iShares MSCI Emerging Markets Index ( EEM ): +0.1%


iPath S&P 500 VIX Short Term Futures ( VXX ): -3.1%, above 52 week lows

Select Financial Sector SPDRs ( XLF ): -0.07% from near 52 week highs

PowerShares QQQ Trust, Series 1 ( QQQ ): -0.35% from near 52 week highs

Pre-Market Movers

SPY +0.01%

AGQ -4.3%

NUGT -7.2%

VXX -0.28%

EEM -0.4%

Broad Market Indicators

Broad-market exchange-traded funds, including SPY, IWM, IVV and others, are mixed after a weaker close on Wednesday. Gold and silver ETFs are weak as the price of precious metals slid as concern over an imminent attack on Syria eases.

U.S. stock futures slipped Thursday indicating the markets may break a seven-day winning streak. Jobs data just released showed jobless claims plummeting by 31,000 to 292,000 compared with the consensus of 330,000. Jobs data is being closely watched for clues as to when the Federal Reserve will begin tapering its stimulus measures.

Financial -

Select Financial Sector SPDRs ( XLF ) was up 010% and is close to 52 week highs. Direxion Daily Financial Bull 3X shares (FAS) is flat. Its bearish counterpart, FAZ, is leaning slightly higher.

Among financial stocks, Blackstone Group (BX) has filed for the sale of Hilton Worldwide through a $1.25 billion IPO. Blackstone shares are down 0.13% pre-market.

Energy -

Dow Jones U.S. Energy Fund (IYE) was unchanged after setting a 52-week top of $47.83 on Thursday. Energy Select Sector SPDR (XLE) was also quiet after hitting a 52-week high of $84.29.

In sector news, LINN Energy (LINE) said it agreed to buy oil and natural gas assets located in the Permian Basin for a contract price of $525 million. The company says estimated production from the first twelve months will be about 4,800 Boe/d, mostly from the Clearfork formation. It says operating expenses are low at about $15.00 Boe. The shares are up 2% pre-market.

Commodities -

Crude was up 0.47%, and United States Oil Fund (USO) was up 0.31%. Natural gas was down 0.6%, and United States Natural Gas Fund (UNG) was down 0.27%.

Gold was down 1.6%, and the SPDR Gold Trust (GLD) was off 1.7%. Silver was down 2.45%; iShares Silver Trust (SLV) was down 2.2%.

Consumer -

Consumer Staples Select Sector SPDR (XLP); iShares Dow Jones US Consumer Goods (IYK) and Vanguard Consumer Staples ETF (VDC) are quiet pre-bell after modest gains on Thursday. The funds are trading in the upper band of their 52-week ranges.

In sector news, Lululemon (LULU) reports Q2 revenue of $344.5 mln, vs. the analyst consensus of $343.9 mln on Capital IQ. EPS was $0.39, vs. expectations of $0.35 per share. For Q3, the company guides for revenue of $370 to $375 mln and EPS of $0.39 to $0.41, vs. the Street view of $390 mln in revenue and earnings of $0.44 per share. LULU is slumping 7.7% pre-market.

Healthcare -

Health Care SPDR (XLV) is flat after coming within $0.30 of its 52-week high Thursday; Vanguard Health Care ETF (VHT), and iShares Dow Jones US Healthcare (IYH) are also both trading at the higher end of their 52-week ranges. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) may open higher after gaining 0.74% after hours.

In corporate news, NeoStem, Inc (NBS) said it was awarded a grant under the Small Business Innovative Research Program of $147,765 to fund studies to investigate the potential of very small embryonic-like stem cells in treating difficult to heal wounds in an animal model of scleroderma. The shares are up 2% pre-market.

Technology -

Technology Select Sector SPDR ETF (XLK), iShares Dow Jones US Technology ETF (IYW) and iShares S&P North American Technology ETF (IGM) are quiet after a weak session Thursday. iShares S&P North American Technology-Software Index (IGV) hit a new 52-week high of $76.13 Thursday, though is flat pre-market.

Semiconductor ETFs, SPDR S&P Semiconductor (XSD) and Semiconductor Sector Index Fund (SOXX) and SPDR S&P International Technology Sector ETF (IPK) are also quiet.

In sector news, Facebook (FB) shares are higher this morning after JPMorgan reportedly raised its price target on the stock to $53 from $44 per share. It maintained its Buy rating. The stock is up 1.2%.



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 , QQQ , SPY , VXX , XLF

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As of 12/18/2014, 04:15 PM


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