ETF Preview: ETFs, Futures Log Modest Gains Ahead of October Wholesale Inventories, JOLTS Report

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

SPDR S&P 500 ( SPY ): +0.25%

iShares S&P 500 ( IVV ): +0.23%


PowerShares QQQ ( QQQ ): +0.41%

iShares Russell 2000 ( IWM ): -0.01%

iShares Russell 1000 Growth ( IWF ): +0.19%

iShares MSCI Emerging Markets Index (EEM): +0.14%

United States Oil Fund (USO): -0.40%

SPDR Gold Shares (GLD): +0.99%

Select Financial Sector SPDRS (XLF): +0.42%

Pre-Market Movers

SPY, +0.01%

EEM, -0.05%

GDX, +1.08%

IWM, +0.10%

EWJ, -0.58%

Broad Market Indicators

Many broad-market exchange-traded funds, including SPY, IWM, IVV and others are inching higher. Actively traded PowerShares QQQ ( QQQ ) is up 0.06%, nearing the 52-week high it hit the prior session.

U.S. stock futures are also looking to open Tuesday's session with modest gains, as concerns over the possible tapering of the Federal Reserve's bond buying program continue to rattle market sentiment. Investors will be looking ahead to two economic reports to be released today - the October wholesale inventories report and the October JOLTS - Jobs Openings report, both due at 10:00 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) all reached new 52-week highs in the previous session.

Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) and Semiconductor Sector Index Fund (SOXX) closed the previous session in the green. SPDR S&P International Technology Sector ETF (IPK) was also higher.

Among stocks, Nokia (NOK) is down 2.25% in pre-market as the Wall Street Journal reports the company's tax liabilities in India could be far higher than expected. Citing an Indian income tax official, the article says the Finnish company's back tax bill could balloon to $3.4 billion from the current $340 million. Nokia had previously said it planned to propose setting aside more than $350 million to unfreeze its Indian assets so the company can close the sale of its handset business to Microsoft (MSFT).

Winners and Losers

Financial -

Select Financial Sector SPDRs (XLF) is up 0.47%. Direxion Daily Financial Bull 3X shares (FAS) is up 1.24% and its bearish counterpart, FAZ is down 0.17%.

In sector news, title insurance and transaction services provider Fidelity National Financial Inc. (FNF) is up 0.81% after it said it is exploring strategic alternatives for its portfolio company investments, potentially including a tracking stock, spinoffs, sales and other potential moves. The company retained J.P. Morgan Securities LLC to advise it as it explores the strategic alternatives. Fidelity National said goal of the effort is "to both monetize and highlight the value of FNF's portfolio investments for the benefit of its shareholders."

Energy -

Dow Jones U.S. Energy Fund (IYE) is flat in pre-market trading while Energy Select Sector SPDR (XLE) is down 0.75%.

In sector news, Talisman Energy Inc. (TLM.TO, TLM) announced that two of its affiliates have reached agreement to sell their approximately 12% equity interest in the Ocensa Pipeline in Colombia to an investment group led by Advent International for a total cash consideration of approximately $595 million.

Commodities -

January crude is up 1.31%; United States Oil Fund (USO) is up 1.17%. January natural gas is up 1.04%, and United States Natural Gas Fund (UNG) is up 0.92%.

February gold is up 1.17%, and SPDR Gold Trust (GLD) is up 0.61%. March silver is up 1.85%; iShares Silver Trust (SLV) is up 1.20% this morning.

Healthcare -

Health Care SPDR (XLV), Vanguard Health Care ETF (VHT) and iShares Dow Jones US Healthcare (IYH) are flat pre-market. All were firmer in the previous session, and were near their 52-week highs. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) closed Monday's session in the red.

Among stocks, Navidea Biopharmaceuticals (NAVB) rose nearly 26% in pre-market trade after saying that the U.S. Food and Drug Administration has granted Fast Track designation to its head and neck cancer Lymphoseek diagnostic tool. Lymposeek is an injection that detects lymph nodes in patients with head and neck cancer. The Fast Track program is designed to facilitate the development and expedite the review of drug candidates intended to treat serious or life-threatening conditions, and that demonstrate the potential to address unmet medical needs. Navidea said it plans to file a supplemental New Drug Application for Lymposeek before year end.

Consumer

Consumer Staples Select Sector SPDR (XLP), Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK) were at or near 52-week highs in Monday's session, but are unchanged so far in pre-market trading.

Among retail funds, SPDR S&P Retail (XRT), PowerShares Dynamic Retail (PMR), and Market Vectors Retail ETF (RTH), are all quiet after seeing weakness in the previous session.

In stocks news, lululemon athletica (LULU) is up 2.36% after appointing Laurent Potdevin as the company's Chief Executive Officer and a member of its Board of Directors. Potdevin will succeed Christine Day, who has served as the company's CEO since 2008 and who announced her intention to resign in June 2013. Potdevin is expected to step into his role as CEO in January 2014, and will become a director when he assumes his duties as CEO. Ms. Day is expected to remain with lululemon through the end of the company's fiscal year. In addition, Chip Wilson, lululemon's founder and the Chairman of its Board of Directors, informed the Board he is resigning from the position of non-executive Chairman. Wilson will step down from the role effective prior to the company's annual meeting in June 2014. The Board has selected Michael Casey, Lead Director of the Board, as the next Chairman of the Board. Casey is expected to assume this role upon Wilson's resignation.



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: IVV , IWF , IWM , QQQ , SPY

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As of 12/18/2014, 04:15 PM


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