ETF Preview: ETFs, Futures Weaken Following Mixed Jobs, Consumer Spending Data


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Active broad-market exchange-traded funds at the end of Thursday's session:

SPDR S&P 500 ( SPY ): -1.25%

iShares S&P 500 ( IVV ): -1.22%

PowerShares QQQ ( QQQ ): -1.88%

iShares Russell 2000 ( IWM ): -1.63%

iShares Russell 1000 Growth ( IWF ): -1.55%

iShares MSCI Emerging Markets Index (EEM): -1.90%

United States Oil Fund (USO): -0.64%

SPDR Gold Shares (GLD): -0.82%

Select Financial Sector SPDRS (XLF): -1.12%

Pre-Market Most Active:

SPY, -0.17%

EEM, -0.32%

IWM, +0.01%

VXX, -0.30%

QQQ, +0.05%

Broad Market Indicators

Broad-market exchange-traded funds, including SPY, IWM, IVV and others, are trimming earlier gains, with some turning negative. Actively traded PowerShares QQQ ( QQQ ) is up 0.05%.

U.S. stock futures are also giving up modest gains after the report that nonfarm payrolls increased to 204,000 in October, versus the forecasts of an increase of 100,000, according to a poll by MarketWatch. The unemployment rate went up to 7.3%, versus the expected 7.4%. Meanwhile, the Commerce Department reported that consumer spending rose 0.2% in September, just shy of the 0.3% increase expected by economists. Still on tap, the preliminary reading for the November consumer confidence data from the University of Michigan will be out 9:55 am ET, while Fed Chairman Ben Bernanke will be speaking at the IMF panel at 3:30 pm ET.

Power Play: Healthcare

Health Care SPDR (XLV), Vanguard Health Care ETF (VHT), and iShares Dow Jones US Healthcare (IYH) are pointing to a firmer start after touching fresh new highs in the previous session. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) is also pointing higher.

In sector news, Santarus, Inc. (SNTS) is up 38% past its existing 52-week high after the biopharmaceutical company said it will be acquired by Salix Pharma for about $2.15 billion. Separately, Santarus this morning reported new data from an open-label extension of the pivotal Phase III clinical study of RUCONEST for treatment of acute hereditary angioedema.

Winners and Losers

Financial -

Select Financial Sector SPDRs (XLF) is down 0.2%. Direxion Daily Financial Bull 3X shares (FAS) is down 0.18%. Its bearish counterpart, FAZ, is up 0.22%.

Among financial stocks, Swiss bank UBS (UBS) says it will pay SNB $1 billion to buy back the stabilization fund set up five years ago to bail out the bank during the financial crisis, Reuters reports. UBS will also pay the SNB $1 billion half of the remaining amount of the fund's equity. The central bank said the repayment would have a favorable impact on its 2013 annual result. UBS shares are up 0.28%.


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 flat after closing the previous session in negative territory.

Semiconductor ETFs, SPDR S&P Semiconductor (XSD) and Semiconductor Sector Index Fund (SOXX) and SPDR S&P International Technology Sector ETF (IPK) are headed for a flat to higher open.

In sector news, Universal Display Corp (OLED) is up almost 19% after the maker of light-emitting diodes and other lighting solutions reported better-than-expected Q3 results and raised its full-year guidance. The company had Q3 net income of $5.5 million, or $0.12 per diluted share, compared with a loss of $0.12 a share a year earlier. Analysts had expected the company to break even, according to Capital IQ. Revenues were $32.8 million up from $12.5 million a year ago and topping forecasts for $21.5 million. The company expects 2013 revenues to be approximately $142-$144 million, compared to the prior guidance of $110-$125 million range. Analysts expect $128 million.

Energy -

Dow Jones U.S. Energy Fund (IYE) is flat after ending Thursday's session in the negative. Energy Select Sector SPDR (XLE) is down 0.11% in pre-market trading.

In sector news, Statoil (STO) is down 2% as it says it plans to drill from 20 to 25 exploration wells off shore in Norway, Platts reports.

Commodities -

December crude is up 0.27%; natural gas for January delivery is up 0.98%. United States Oil Fund (USO) is up 0.03%, and United States Natural Gas Fund (UNG) is up 1.2%.

Gold and silver for December delivery are lower, down 0.05% and 0.19%, respectively. Among rare metal funds, SPDR Gold Trust (GLD) is up 0.12%; iShares Silver Trust (SLV) is up 0.24%.

Consumer -

Consumer ETFs Consumer Staples Select Sector SPDR (XLP), iShares Dow Jones US Consumer Goods (IYK), and Vanguard Consumer Staples ETF (VDC) are pointing to a firmer start.

In sector news, Tremor Video (TRMR) is down 37.90% after reporting late Thursday Q3 sales were $35.3 million, below estimates for $36.26 million. Non-GAAP EPS were $0.00, versus forecasts for a $0.02 loss. It sees Q4 sales between $29.5 million to $30.5 million and FY sales between $125 million to $126 million. Both are reportedly below estimates.

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) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities
More Headlines for: IVV , IWF , IWM , QQQ , SPY

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