ETF Preview: ETFs, Futures Add to Losses Following Weak Jobless Claims Data; Existing Home Sales Data, Leading Econ Indicators Still Ahead


Active broad-market exchange-traded funds at the close of Wednesday's regular session:

SPDR S&P 500 ( SPY ): +0.07%

iShares S&P 500 ( IVV ): +0.07%

PowerShares QQQ ( QQQ ): +0.26%

iShares Russell 2000 ( IWM ): +0.51%

iShares Russell 1000 Growth ( IWF ): +0.19%

iShares MSCI Emerging Markets Index (EEM): +1.33%

United States Oil Fund (USO): +1.68%

SPDR Gold Shares (GLD): -0.43%

Select Financial Sector SPDRS (XLF): +0.05%

Pre-Market Movers

SPY, -0.33%

EEM, +1.14%

GDX, +1.60%

EWJ, -0.91%

QQQ, -0.03%

Broad Market Indicators

Most broad-market exchange-traded funds, including SPY, IWM, IVV are slipping into the negative territory. Actively traded PowerShares QQQ ( QQQ ) was down 0.03%.

Most U.S. stock futures are also lower, logging further weakness following the report that weekly jobless claims rose by 1,000 at 326,000 - a slight change from the prior week, casting some doubt on the improvement of the labor market. Continuing claims increased by 34,000 to a seasonally adjusted 3.06 million. News from abroad also cast a shadow on market sentiment, with China releasing disappointing manufacturing data. Investors are now expected to turn their focus on the Markit flash January purchasing managers index report, out at 9 am ET, as well as existing home sales data and leading economic indicators, both scheduled for release at 10 am ET.

Power Play: Technology

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 quiet in pre-market trading. Likewise, SPDR S&P International Technology Sector ETF (IPK) remains flat.

Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) and Semiconductor Sector Index Fund (SOXX) are unchanged.

In sector news, F5 Networks (FFIV) is up 11% after the ADN technology provider reported late Wednesday Q1 non-GAAP EPS $1.22 and revenues of $406.452 million, which topped analysts' estimates. The company said it sees Q2 sales of $408 million - $418 million, above estimates for $404 million. It expects non-GAAP EPS of $1.23 - $1.26, also above the Street view of $1.21 EPS. Nomura Securities this morning downgraded the stock to a Neutral rating from a Buy, while raising its price target to $111 from $100.

Winners and Losers


Select Financial Sector SPDRs (XLF) is down 0.18%. Direxion Daily Financial Bull 3X shares (FAS) is down 0.89% and its bearish counterpart, FAZ is up 0.91%.

In sector news, MGIC Investment Corporation (MTG) is up 3.52% after reporting that it broke even on a per-share basis in Q4, up from a loss of $1.91 per share a year ago and ahead of the $0.02 average loss expected by analysts polled by Capital IQ. Total revenue fell to $251.9 million from $371.4 million, missing the $254 million average estimate.


Dow Jones U.S. Energy Fund (IYE) and Select Sector SPDR (XLE) are flat in pre-market trading.

In sector news, Noble Corporation (NBL) is down 0.62% after the company reported Q4 earnings of $0.82 per share, ex one-time items, compared with the prior-year period's $0.50 per share. Revenues were $1.17 billion, up from $966 million in the same quarter last year. Analysts polled by Capital IQ were expecting EPS of $0.82 on revenues of $1.16 million.


March crude was up 0.24% while United States Oil Fund (USO) is down 0.09%. March natural gas is up 4.18% after hitting 52-week highs in the previous session; United States Natural Gas Fund (UNG) is up 3.91%.

April gold is up 0.79%, and SPDR Gold Trust (GLD) is up 0.93%. March silver is up 1.39%; iShares Silver Trust (SLV) is up 1.42% this morning.


Consumer Staples Select Sector SPDR (XLP), Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK) are unchanged.

Among stocks, McDonald's (MCD) was down 0.41% after reporting Q4 EPS of $1.40, ahead of the analyst consensus of $1.39 per share on Capital IQ. Global comp sales decreased 0.1%, reflecting higher average check and negative comparable guest counts. Revenue was $7.09 bln, about in line with the analyst view of $7.1 bln.


Health Care SPDR (XLV), Vanguard Health Care ETF (VHT) and iShares Dow Jones US Healthcare (IYH) are flat pre-market after seeing gains in the previous session. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) is up 0.10%.

Among stocks, CombiMatrix Corp (CBMX) shares are up 5.86% after the company sai it entered into a contractual agreement with Galaxy Health Network giving its clients access to CombiMatrix's diagnostic laboratory services. Galaxy Health Network has a provider base of more than 400,000 directly contracted physicians, 2,700 hospitals and 47,000 ancillary providers. Its member base has currently more than 3.5 million covered lives. These members now have access to CombiMatrix's suite of molecular diagnostic solutions and comprehensive clinical support, specializing in prenatal, miscarriage and pediatric healthcare.

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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