ETF Preview: ETFs, Futures Show Modest Gains Following Upbeat Empire Manufacturing Data

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

SPDR S&P 500 ( SPY ): -0.28%

iShares S&P 500 ( IVV ): -0.27%


PowerShares QQQ ( QQQ ): -0.68%

iShares Russell 2000 ( IWM ): +0.43%

iShares Russell 1000 Growth ( IWF ): -0.23%

iShares MSCI Emerging Markets Index (EEM): +0.55%

United States Oil Fund (USO): +0.54%

SPDR Gold Shares (GLD): +0.67%

Select Financial Sector SPDRS (XLF): -0.64%

Pre-Market Movers

SPY, +0.16%

EEM, +0.08%

VXX, -0.18%

EWJ, -0.15%

IWM, +0.28%

Broad Market Indicators

Most broad-market exchange-traded funds, including SPY, IWM, IVV were edging higher in pre-market trading Monday. Actively traded PowerShares QQQ ( QQQ ) was up 0.58%, after closing in negative territory in the previous session.

U.S. stock futures were also posting slight gains as investors keep a cautious eye on the possible sanctions the U.S. and the European Union will impose on Russia after partial results of the Crimea referendum showed that the region voted to be reunified with Russia; the Ukraine and the European Union has stated that the referendum was illegal. Back home, market sentiment was lifted on the report that the Empire manufacturing index showed a slight improvement in March, rising to 5.6 from 4.5 in February. Still ahead, industrial production for February will be out 9:15 am ET, and NAHB housing market index for March, will be reported 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) were flat. SPDR S&P International Technology Sector ETF (IPK) was also quiet in pre-market trading.

Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) and Semiconductor Sector Index Fund (SOXX) were flat as well.

In stocks news, Yahoo (YHOO) shares were up 2.93% in early Monday pre-market trade after China-based Alibaba said it will hold its Initial Public Offering (IPO) in the U.S. The e-commerce company is reportedly in talks with about six banks to underwrite the IPO. The listing could bring in about $15 billion to the company, and it would be significant to Yahoo as the Internet firm holds a 24% stake in Alibaba. Yahoo has said previously it plans to cash out some of its holdings in Alibaba in an IPO.

Winners and Losers

Financial

Select Financial Sector SPDRs (XLF) was flat. Direxion Daily Financial Bull 3X shares (FAS) was up 0.19%. Its bearish counterpart, FAZ, was up 0.14%.

Among stocks, regional bank holding company Huntington Bancshares (HBAN) said Monday that Howell D. McCullough III has been appointed as the new chief financial officer, replacing Dave Anderson, who was appointed interim CFO last year. McCullough was the chief strategy officer at U.S. Bank before joining Huntington. He will be responsible for finance, strategic planning, financial planning, mergers and acquisitions, investor relations, treasury, tax, and accounting.

Energy

Dow Jones U.S. Energy Fund (IYE) and Energy Select Sector SPDR (XLE) were unchanged in pre-bell trading.

In corporate news, Yingli Green Energy (YGE) was up more than 5% after saying it has won a deal to supply 10 megawatts of multicrystalline PV modules to U.K.'s solar company Solarcentury Holdings. The 40,000 PV modules will be installed on the Isle of Sheppey, near London. The project will produce approximately 10,000 MWh of electricity per year, enough to supply around 3,000 typical homes.

Commodities

Crude was up 0.15%; United States Oil Fund (USO) was down 0.39%. Natural gas was up 1.75% while United States Natural Gas Fund (UNG) was up 2.21%.

Gold was down 0.12% and silver was down 0.39%. Among rare metal funds, SPDR Gold Trust (GLD) was down 0.32% and iShares Silver Trust (SLV) was down 0.39%.

Consumer

Consumer Staples Select Sector SPDR (XLP), Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK) were unchanged pre-market after a higher session Friday.

Among stocks, the American Depositary Receipts of Vodafone (VOD)were up more than 1% pre-market trading on Monday after a Reuters report that said the British mobile communications company has agreed to buy Spanish cable operator Ono for $7.2 billion euros ($10 billion). Reuters said the acquisition will boost its portfolio of offerings by adding a combination of mobile and fixed-line telephony, pay-TV, and broadband.

Health Care

Health Care SPDR (XLV), Vanguard Health Care ETF (VHT) and iShares Dow Jones US Healthcare (IYH) were unchanged. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) was also flat.

In corporate news, Intercept Pharmaceuticals Inc. (ICPT) was down 4.82% after the company reported mixed Q4 and full-year 2013 earnings. On Friday, ICPT reported a loss per share of $0.64, compared to a loss of $2.02 for the same quarter the previous year and better than analyst expectations of a loss of $0.70 per share, if comparable. Revenue for the quarter was flat at $405 million. Separately, the company disclosed positive results for its Phase 3 POISE trial, noting it met the primary endpoint with high statistical significance.



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: SPY , IVV , QQQ , IWM , IWF

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As of 12/24/2014, 02:12 PM


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