ETF Preview: Broad Market Funds Mixed in Slow Trading After Thursday's Selloff

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

Select Sector Financial SPDR Fund ( XLF ): -1.5%, but near its 52-week highs

iShares MSCI Emerging Markets Index ( EEM ): -1.2%


iPath S&P 500 VIX Short Term Futures ( VXX ): +5% from near 52 week lows.

Direxion Daily Gold Miners Bull 3X Shares ( NUGT ): +11.3%

PowerShares QQQ Trust, Series 1 ( QQQ ): -1.65%

Pre-Market Movers

SPY +0.08%

QQQ +0.09%

NUGT -0.2%

AGQ -0.13%

UVXY -1.1%

Winners and Losers

Broad-market exchange-traded funds, including SPY, IWM, IVV and others, were mixed to slightly lower. Actively traded PowerShares QQQ ( QQQ ) was down 0.09%.

U.S. stock futures are pointing to a slightly firmer open after Thursday's sell-off triggered by fears the U.S. Federal Reserve will begin to withdraw economic stimulus and disappointing results from some index heavyweights, such as Wal-Mart (WMT). Investors will also be digesting mixed economic data this morning. Housing starts were worse-than-expected, rising 896,000 compared with the consensus for 900,000, while non-farm productivity beat forecasts with a 0.9% gain.

Winners and Losers

Financial -

Select Financial Sector SPDRs ( XLF ) is flat, but near its 52-week highs. Direxion Daily Financial Bull 3X shares (FAS) is edging higher after a 4.7% drop on Thursday. Its bearish counterpart, FAZ, is also marginally in the green.

Among financial stocks, E-House Holdings Limited (EJ) is up 4% after Q2 earnings topped estimates. The company reported Q2 non-GAAP net income of $15.3 million, or $0.11 per share, on revenues of $163.4 million. Analysts expected EPS of $0.06 and revenues of $136 million. The company raised its fiscal 2013 total revenue guidance to approximately $630 million from the guided amount of approximately $600 million.

Technology -

Technology Select Sector SPDR ETF (XLK) is up 0.16%; 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 declining Thursday.

Semiconductor ETFs , SPDR S&P Semiconductor (XSD) and Semiconductor Sector Index Fund (SOXX) are also unchanged after losing 1.9% and 2.1% respectively in Thursday's session.

SPDR S&P International Technology Sector ETF (IPK) is leaning lower.

In sector news, Dell (DELL) shares are up 0.2% at $13.73 as Carl Icahn and Michael Dell ready for a court hearing to determine whether to fast-track Icahn's lawsuit for control of the firm. Last night Dell reported a Q2 EPS of $0.25, up from the $0.24 per share analysts expected. Revenue was $14.5 billion versus the analyst estimate of $14.2 billion.

Energy -

Dow Jones U.S. Energy Fund (IYE) is flat after closing down 0.6% and Energy Select Sector SPDR (XLE) has dipped 0.13%.

In sector news, InterOil (IOC) is lower in pre-market trade amid worries that talks to sell assets, including its Elk and Antelope fields, to ExxonMobile (XOM) may fall apart, reports suggested.

Commodities -

Crude was up 0.2% while United States Oil Fund (USO) is flat; natural gas is down 1.18% while United States Natural Gas Fund (UNG) is unchanged after a 2% gain Thursday.

Gold was up 0.48% and silver was up 0.35%. Among rare metal funds, SPDR Gold Trust (GLD) was up 0.25%; iShares Silver Trust (SLV) is leaning slightly higher. Direxion Daily Gold Miners ( NUGT ) is adding to gains, up 0.2% after a 13% bounce on Thursday.

Healthcare -

Health Care SPDR (XLV); Vanguard Health Care ETF (VHT) and iShares Dow Jones US Healthcare (IYH) are all unchanged after heavy losses Thursday. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) is also flat.

In corporate news, shares in Merrimack Pharmaceuticals (MACK) are up more than 26% pre-market, bouncing off a 52-week low set on Thursday, possibly helped by a positive Seeking Alpha report. The contributor said that if results from drug trials currently underway are positive, there is considerable scope for the company to be revalued. It also said it's likely to be bought by a larger players.

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 flat, again after recording losses on Thursday on the back of mixed corporate results.

J.C. Penney (JCP) and Bill Ackman, the company's largest investor, agreed that Ackman may make up to four requests to sell some of his stake. The rights granted to Ackman under the Aug. 13 agreement end when he and his funds own less than 5% of the retailer's stock, according to a regulatory filing. The shares are down 1.5% 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 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: EEM , NUGT , QQQ , VXX , XLF

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