ETF Preview: Broad Market ETFs Track Futures Higher as Market Awaits September Leading Econ Indicators Data, Pianalto Speech


Active broad-market exchange-traded funds at the end of Tuesday's session:

SPDR S&P 500 ( SPY ): -0.33%

iShares S&P 500 ( IVV ): -0.28%

PowerShares QQQ ( QQQ ): +0.11%

iShares Russell 2000 ( IWM ): -0.32%

iShares Russell 1000 Growth ( IWF ): -0.16%

iShares MSCI Emerging Markets Index (EEM): -2.04%

United States Oil Fund (USO): -1.09%

SPDR Gold Shares (GLD): -0.20%

Select Financial Sector SPDRS (XLF): -0.48%

Pre-Market Most Active:

SPY, +0.42%

EEM, +0.67%

VXX, -0.96%

QQQ, +0.28%

IWM, +0.65%

Broad Market Indicators

Broad-market exchange-traded funds, including SPY, IWM, IVV and others, are mostly higher after closing the previous session in the red. Actively traded PowerShares QQQ ( QQQ ) is up 0.28%.

U.S. stock futures are also pointing to a firmer start as markets recovered from Tuesday's losses. Investors will be focusing on the report on leading economic indicators for September, due out at 10 a.m. ET, as well as the speech from Cleveland Fed President Sandra Pianalto, scheduled at 1:10 p.m. ET; Pianalto said she will be stepping down from her post at the end of the year. Looking ahead to the rest of the economic data releases for the week, investors will be keeping an eye on the European Central Bank's meeting on Tuesday, and the U.S. nonfarm-payrolls data to be released Friday.

Power Play: Technology

Tech ETFs are leaning higher as the sector looks to open Wednesday's session higher. 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 flat after closing the previous session in negative territory.

Semiconductor ETFs, SPDR S&P Semiconductor (XSD) and Semiconductor Sector Index Fund (SOXX) and SPDR S&P International Technology Sector ETF (IPK) are headed for a flat to higher open.

In sector news, Mindspeed Technologies Inc. (MSPD) is up 69% and near the stock's 52-week high of $5.27 after the supplier of semiconductor solutions said late Tuesday that it has inked a deal to be acquired for $5.05 per share by M/A-COM Technology. Separately, the company reported Q4 EPS of $0.02 on record revenue of $36.0 million, both lines meeting Capital IQ consensus estimates. In the prior-year period, MSPD reported a Q4 loss of $0.01 on revenues of $35.5 million.

Winners and Losers

Financial -

Select Financial Sector SPDRs (XLF) is up 0.44%. Direxion Daily Financial Bull 3X shares (FAS) is up 1.27%. Its bearish counterpart, FAZ, is down 0.98%.

Among financial stocks, Marsh & McLennan Companies, Inc. (MMC) reported Q3 revenue was $2.9 billion, an increase of 3% on a reported basis, or 4% on an underlying basis. Analysts expected $2.95 billion in revenue. Adjusted earnings per share grew 18% to $0.46, compared with $0.39 last year. Analysts expected $0.46 per share in earnings.

Energy -

Dow Jones U.S. Energy Fund (IYE) is flat while and Energy Select Sector SPDR (XLE) is down 1.9%.

In sector news, Chesapeake Energy Corp (CHK) is up 2.31% after the oil and gas explorations and production company said Q3 adjusted net income per fully diluted share was $0.43, and revenues were $4.86 billion - up from the prior-year period's results and better than Street expectations. The company is raising its 2013 oil production outlook increases by 2 million barrels to 40-42 million barrels, a 28-34% increase year over year.

Commodities -

December crude is up 0.69%; natural gas for January delivery is up 0.7%. United States Oil Fund (USO) is up 0.24%. United States Natural Gas Fund (UNG) is also up 1.04%.

Gold and silver for December delivery are higher, up 0.76% and 1.38%, respectively. Among rare metal funds, SPDR Gold Trust (GLD) is up 0.48%; iShares Silver Trust (SLV) is up 1.10%.

Among stocks, gold mining company AngloGold Ashanti Limited (AU) is up 5% after reporting that Q3 earnings jumped on the back of a 12% rise in production and 10% drop in total cash costs from the previous quarter. Adjusted headline earnings were $576 million, compared with a loss of $135 million the previous quarter. Gold production was up 12% from previous quarter to 1,043 koz, better than 950koz-1Moz guidance. The company is maintaining its annual cost and production guidance at 4.0Moz - 4.1Moz at $815/oz - $845/oz.

Consumer -

Consumer ETFs Consumer Staples Select Sector SPDR (XLP), iShares Dow Jones US Consumer Goods (IYK), and Vanguard Consumer Staples ETF (VDC) are pointing to a firmer start.

In sector news, Tesla Motors (TSLA) is down 11% after it said in Tuesday's after-hours that it expects Q4 EPS of $0.12, in line with the prior-year period's EPS but below the Street view. However, its Q3 EPS of $0.12 and revenues of $603 million bested analysts' expectations.


Health Care SPDR (XLV), Vanguard Health Care ETF (VHT), and iShares Dow Jones US Healthcare (IYH) are pointing to a firmer start. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) is also pointing higher.

In sector news, Curis, Inc. (CRIS) is down more than 18% after the company said its Phase 1 study of the investigational cancer treatment, CUDC-427, has been placed on partial clinical hold by the U.S. Food and Drug Administration (FDA) following the report of a death of a patient who progressed to liver failure approximately one month following the discontinuation of CUDC-427 dosing.

The company also reported Q3 loss of $0.02 per share on revenue of $7.2 million - which fell short of the Capital IQ consensus estimate.

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: IVV , IWF , IWM , QQQ , SPY

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