ETF Preview; Broad Market ETFs Slip In Pre-Market Trading As Investors Eye Fed, Consumer Data


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

SPDR S&P 500 ETF Trust ( SPY ): -0.45%

Select Financial Sector SPDRs ( XLF ): -1.3% from near 52 week highs

iShares MSCI Emerging Markets Index ( EEM ): +0.5%

iPath S&P 500 VIX Short Term Futures TM ( VXX ): +1.5% from near 52 week lows

Market Vectors Gold Miners ( GDX ): +0.8%

Pre-Market Movers

DUST +2.4%

AGQ +0.2%

SPY -0.28%

IWM -0.5%

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 down 0.08%.

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 forecasts.

Winners and Losers

Financial -

Select Financial Sector SPDRs ( XLF ) 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 ownership.

Energy -

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.

Commodities -

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 yesterday's session.

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 0.14%.

Consumer -

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.

Healthcare -

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 ranges.

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 -

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 week ranges.

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.

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 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: EEM , GDX , SPY , VXX , XLF

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