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ETF Preview: ETFs, Futures Higher Despite Lackluster Empire State Manufacturing Data


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

SPDR Select Sector Fund - Financial ( XLF ): -0.2%

iPath S&P 500 VIX Short Term Futures ETN ( VXX ): -1.8%

iShares MSCI Emerging Index Fund ( EEM ): -0.3%

SPDR S&P 500 ( SPY ): +0.1%

VanEck Vectors Gold Miners ETF ( GDX ): +1.1%

Broad Market Indicators

Broad-market exchange-traded funds, including SPY, IWM and IVV edged lower. Actively traded PowerShares QQQ (QQQ) was up 0.2%.

U.S. stock futures were pointing higher, after softer-than-expected Empire State index data, but market direction is expected to be more definite when earnings season begin in earnest.

The New York Fed's Empire State manufacturing index declined to a seasonally adjusted reading of 9.8 from 19.8 in June. Expectations were for a reading of 15.

Netflix (NFLX) will be reporting its financial results in the after hours session.

Power Play: Health Care

Health care funds Health Care SPDR (XLV), Vanguard Health Care ETF (VHT) and iShares Dow Jones US Healthcare (IYH), were inactive. Biotechnology fund iShares NASDAQ Biotechnology Index (IBB) was up 0.3%.

Repros Therapeutics (RPRX) plunged 46.5% after the company said its clinical development program for Proellex will remain on partial clinical hold, and based upon the US Food and Drug Administration's review of all the existing liver function safety data, the regulator has indicated the company will be required to compile a large pre-approval safety data base to support future development. Proellex is the company's oral delivery mechanism for telapristone acetate. As a result, Repros said it is assessing increasing its focus on its uterine fibroid and endometriosis development program utilizing a vaginal drug delivery program for telapristone acetate, a selective progesterone modulator. The company also said on Aug 2, it will be granted a European patent relating to the use of selective progesterone modulators, in particular Telapristone Acetate (Proellex) or Ulipristal Acetate, with an Off Drug Interval to treat estrogen-dependent hyperproliferative uterine conditions, such as uterine fibroids and endometriosis.

Winners and Losers

Financial

Select Financial Sector SPDRs ( XLF ) was down 0.3%. Direxion Daily Financial Bull 3X shares (FAS) and its bearish counterpart, FAZ, were inactive.

Bank Of New York Mellon (BK) was up 1.8% after it appointed Charles W. Scharf, as its new CEO and company director effective immediately. Scharf will become chairman of the board effective January 1, 2018. This comes as current CEO, Gerald L. Hassell, retires at year-end. Scharf was most recently CEO of Visa Inc. (V) from October 2012 through December 2016.

Technology

Technology Select Sector SPDR ETF (XLK) and other tech stocks 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) were quiet in pre-market trading . SPDR S&P International Technology Sector ETF (IPK) was flat.

Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) and Semiconductor Sector Index Fund (SOXX) were both inactive.

USA Technologies (USAT) was up 4.1% after the company said it expects Q4 sales between $32 million to $34 million, above the CapIQ mean for $27.4 million, and full-year sales between $102 million to $104 million, below estimates for $97.2 million. It expects Q4 net income to be between a loss of $400,000 to a profit of $400,000, an improvement of between 54% to 146% from the year-ago period and in line with forecasts.

Energy

Dow Jones U.S. Energy Fund (IYE) was flat while Energy Select Sector SPDR (XLE) was up 0.03%.

Peabody Energy (BTU) said its registration statement for potential resale of shares of common stock and preferred stock, including common stock initially issuable upon the conversion of the preferred stock, has been declared effective by the U.S. Securities and Exchange Commission. Peabody's common stock is currently listed on the New York Stock Exchange under the symbol "BTU," and its preferred stock has been approved for listing on the NYSE MKT under the symbol "BTUPR," with trading expected to begin on Wednesday.

Commodities

Crude was flat. United States Oil Fund (USO) was down 0.3%. Natural gas was up 0.9% while United States Natural Gas Fund (UNG) was up 0.8%.

Gold was up 0.5%. SPDR Gold Trust (GLD) was down 0.5%. Silver was up 0.4% while iShares Silver Trust (SLV) was up 1.3%.

Consumer

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

Consumer Discretionary Select Sector SPDR (XLY) and retail funds SPDR S&P Retail (XRT), PowerShares Dynamic Retail (PMR) and Market Vectors Retail ETF (RTH) were also flat.

Ross Stores (ROST) reported that, over the months of June and July, it opened 21 Ross Dress for Less and seven dd's DISCOUNTS stores across 15 different states. These new locations are part of the company's plans to add approximately 70 Ross and 20 dd's locations in 2017.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.



This article appears in: Investing , ETFs
Referenced Symbols: XLF , VXX , EEM , SPY , GDX


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