Active broad-market exchange-traded funds in Monday's regular
SPDR S&P 500 ETF Trust (
Select Financial Sector SPDRs (
): -1.3% from near 52 week highs
iShares MSCI Emerging Markets Index (
iPath S&P 500 VIX Short Term Futures TM (
): +1.5% from near 52 week lows
Market Vectors Gold Miners (
IVV - 0.75%
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV are
modestly lower. Actively traded PowerShares QQQ (QQQ) is edging
U.S. stock futures are little changed this morning as continuing
uncertainty over when the Federal Reserve will begin tapering its
stimulus program weighs on investor confidence. Eyes are also on
U.S. consumer confidence data due out at 10 a.m. ET. The Conference
Board's monthly consumer-confidence index is likely to have slipped
to 80 this month from 81.5 in August, according to consensus
Winners and Losers
Select Financial Sector SPDRs (
) was down 0.13% after dropping more than 1% on Monday. Direxion
Daily Financial Bull 3X shares (FAS) was down 0.6%. Its bearish
counterpart, FAZ, was up 0.6%.
Among financial stocks, Apollo Commercial Real Estate Finance
(ARI) said Tuesday that, together with other investors, including
affiliates of Apollo Global Management, LLC (APO), has agreed to
make an investment in an entity that will acquire a minority
participation in KBC Bank Deutschland AG, the German subsidiary of
Belgian KBC Group NV. ARI said it will invest up to about $50
million or EUR 38 million, representing approximately 21% of the
Dow Jones U.S. Energy Fund (IYE) and Energy Select Sector SPDR
(XLE) were both flat after closing weaker on Monday.
In sector news, Graham (GHM) has been awarded three surface
condenser orders totalling $7.5 million. Two of the orders are for
new U.S. production capacity of chemical or petrochemicals in the
Gulf Coast region. The third order is to support expansion of an
oil refinery in Saudi Arabia. The projects are expected to ship
during the latter half of fiscal 2015, which ends March 31, 2015.
The company also increased its expected capital expenditure range
for FY14, to $6 million - $7 million, up from its previous
expectation of $3.5 million - $4.5 million.
Crude was down 0.2%, and United States Oil Fund (USO) is quiet
pre-bell after dropping 1.3% Monday. Natural gas edging higher, and
United States Natural Gas Fund (UNG) is flat after steep losses in
Gold was down 0.9%, while SPDR Gold Trust (GLD) was down 0.5%.
Silver was down 1.2%; iShares Silver Trust (SLV) is dipping
Consumer Staples Select Sector SPDR (XLP) and other consumer
ETFs iShares Dow Jones US Consumer Goods (IYK) and Vanguard
Consumer Staples ETF (VDC) are unchanged after falling Monday.
In sector news, Carmax (KMX) reports Q2 net earnings per diluted
share rose 29% to $0.62. Net sales and operating revenues increased
18% to $3.25 billion. Analysts expected $0.56 per share in earnings
on $3.15 billion in revenue, according to Capital IQ.
Health Care SPDR (XLV) was down 0.6%; other healthcare ETFs,
Vanguard Health Care ETF (VHT), and iShares Dow Jones US Healthcare
(IYH) are flat. Biotech ETF iShares NASDAQ Biotechnology Index
(IBB) is also unchanged. All remain near the top of their 52-week
In corporate news, Shares in Inovio Pharmaceuticals (INO) are up
almost 5% after the publication of research showing the success of
the company's new DNA plasmid technology in generating therapeutic
monoclonal antibodies. Monoclonal antibodies were a
transformational scientific innovation designed to enhance the
immune system's ability to regulate cell functions.
Technology Select Sector SPDR ETF (XLK) and iShares Dow Jones US
Technology ETF (IYW) bucked the weak trend to rise Monday, but are
quiet so far pre-bell. iShares S&P North American Technology
ETF (IGM) and iShares S&P North American Technology-Software
Index (IGV) were in the red but still at the high end of their 52
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) and
Semiconductor Sector Index Fund (SOXX) were weaker Monday and quiet
pre-market. SPDR S&P International Technology Sector ETF (IPK)
was also flat.
In sector news, Scotiabank (BNS.TO) believes there will be
another bid for Blackberry (BB.TO, BBRY) to top a $9 a share bid
made Monday by Fairfax Financial (FFH.TO), Canada's BNN television
reported. Meanwhile, other analysts are weighing in on the bid,
with Macquarie Bank questioning how Fairfax will raise the cash for
the deal. Blackberry is down 0.6% pre-market.
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