ETF Preview: Broad Market ETFs Regain Ground, Retail in Focus

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

SPDR S&P 500 ETF Trust ( SPY ): -0.13%

Direxion Daily Gold Miners Bull 3X Shares ( NUGT ): +0.4%

iShares MSCI Emerging Markets Index ( EEM ): -1%

iPath S&P 500 VIX Short Term Futures ( VXX ): +0.9%, from near 52-week lows

Select Financial Sector SPDRs ( XLF ): -0.8%

Pre-Market Most Active

SPY +0.4%

EEM -0.1%

XLF +0.3

VXX -0.33%

GDX +0.58%

Broad Market Indicators

Broad-market exchange-traded funds, including SPY, IWM, IVV are rebounding from losses to show modest gains. Actively traded PowerShares QQQ (QQQ) was up 0.4%.

U.S. stock futures are leaning higher after four straight sessions of losses. Retail stocks are the main focus, with big names such as Home Depot (HD) and Best Buy (BBY) trading sharply higher following better-than-expected earnings reports.

Winners and Losers

Financial -

Select Financial Sector SPDRs ( XLF ) and Direxion Daily Financial Bull 3X shares (FAS) are flat after steep losses on Monday. Its bearish counterpart, FAZ, is down 1%.

Among stocks, W&G Investments is bidding up to $2.35 billion to acquire 316 RBS (RBS) branches, which the bank is selling as part of the conditions of its bailout in 2008. RBS is flat at $10.53 pre-market.

Technology -

Technology Select Sector SPDR ETF (XLK) and other tech ETFs 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 flat.

Semiconductor ETFs, SPDR S&P Semiconductor (XSD) was leaning lower while Semiconductor Sector Index Fund (SOXX) is unchanged after a 0.7% loss on Monday.

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

In sector news, Lexmark International, Inc. (LXK) said it agreed o acquire Germany-based Saperion AG, a developer and provider of enterprise content management and business process management software for about $72 million in cash. LXK is unchanged pre-market.

Energy -

Dow Jones U.S. Energy Fund (IYE) and Energy Select Sector SPDR (XLE) are unchanged so far after both losing 1% on Monday.

In sector news, Analysts at Canaccord Genuityhave initiated coverage of energy company Apache Corporation (APA) with a Buy rating. The firm set its price target at $106 a share. In the pre-market session, shares of APA are steady up 0.3%, amid a 52-week range of $67.91 - $94.87.

Commodities -

Crude was down 0.98%; natural gas was up 0.44%. United States Oil Fund (USO) was down 0.86% from near 52 week highs. United States Natural Gas Fund (UNG) was up 0.49%.

Gold was up 0.37%; and silver was leaning into the red. Among rare metal funds, SPDR Gold Trust (GLD) was up 0.16%; iShares Silver Trust (SLV) was up 0.04%.

Consumer -

Consumer Staples Select Sector SPDR (XLP) and other consumer ETFs iShares Dow Jones US Consumer Goods (IYK), and Vanguard Consumer Staples ETF (VDC) may gain after better-than-expected results from major retail companies including Home Depot (HD) and Best Buy (BBY).

In sector news, Best Buy (BBY) shares are surging 15.1% at $35.36 as it reports Q2 revenue of $9.3 billion, down slightly from $9.339 billion recorded in the year ago quarter but ahead of the analyst consensus of $9.11 billion on Capital IQ. Non-GAAP EPS was $0.32, up from $0.26 per share last year and ahead of the Street view of $0.11 per share, if comparable.

Healthcare -

Health Care SPDR (XLV) is flat; Vanguard Health Care ETF (VHT), and iShares Dow Jones US Healthcare (IYH) are unchanged after gains on Monday. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) was flat.

In corporate news, Medtronic (MDT) reported Q1 EPS that came in line with consensus forecasts but was just shy on revenue. MDT is flat at $54.10. Net earnings and diluted earnings on a non-GAAP basis were $898 million, or $0.88, up 2% and 4%, respectively, over the same period last year. Revenue was $4.083 billion, compared to the $4.008 billion last year and just under the $4.1 billion analysts had been looking for.

Industrial -

Select Sector SPDR-Industrial (XLI) and other industrial ETFs Vanguard Industrials (VIS) and iShares Trust Dow Jones U.S. Industrial Sector Index Fund (IYJ) were showing little movement.

In sector news, Cummins (CMI) plans to disclose a contract with Nissan to supply a diesel engine for its Titan pickup truck, the Wall Street Journal reports, citing "people familiar with the matter." Cummins now supplies diesel engines for some Chrysler Group pickup trucks. CMI close down 1% Monday, trading in a 52-week range of $85.88 to $128.30.



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 , NUGT , SPY , VXX , XLF

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