Active broad-market exchange-traded funds at the close of
Wednesday's regular session:
SPDR S&P 500 (
iShares S&P 500 (
PowerShares QQQ (
iShares Russell 2000 (
iShares Russell 1000 Growth (
iShares MSCI Emerging Markets Index (EEM): -0.02%
United States Oil Fund (USO): +2.21%
SPDR Gold Shares (GLD): -0.19%
Select Financial Sector SPDRS (XLF): +1.19%
Broad Market Indicators
Most broad-market exchange-traded funds, including SPY, IWM, IVV
are mixed to lower. Actively traded PowerShares QQQ (
) was down 0.12%.
U.S. stock futures faltered and are mostly in negative territory
despite the Labor Department's report that weekly initial jobless
claims fell by 2,000 to 326,000 - the lowest level in six weeks.
Economists polled by MarketWatch were expecting claims to total
330,000 on a seasonally adjusted basis. Meanwhile, December
consumer prices rose a seasonally adjusted 0.3%; core CPI,
excluding volatile food and energy costs, was up 0.1%. Best Buy
(BBY) is also weighing on market sentiment as the multinational
retailer of consumer electronics posted disappointing financial
Power Play: Consumer
Consumer Staples Select Sector SPDR (XLP), Vanguard Consumer
Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK) are
Among retail ETFs, SPDR S&P Retail (XRT) is down 0.52% while
other retail funds PowerShares Dynamic Retail (PMR), and Market
Vectors Retail ETF (RTH) could see similar losses following Best
Buy's (BBY) weak financial results.
Best Buy shares are falling to fresh lows, down nearly 30%,
after the company reported total revenue for the holiday period,
the nine weeks ended Jan. 4, 2014, at $11.45 billion, down from
$11.75 billion recorded in the year ago period. Domestic comparable
store sales declined 0.9%. The company now estimates that its
fourth quarter non-GAAP operating income rate will be 175 to 185
basis points lower than last year.
Winners and Losers
Select Financial Sector SPDRs (XLF) is up 0.14%. Direxion Daily
Financial Bull 3X shares (FAS) is down 0.86% and its bearish
counterpart, FAZ is up 0.87%.
In sector news, Goldman Sachs (GS) is up 0.42% after it reported
Q4 revenue of $8.78 billion, down from $9.23 billion last year.
Earnings were $4.60, down from $5.60 per share last year. The
results were ahead of the analyst consensus on Capital IQ of $7.73
billion in revenue and earnings of $4.19 per share.
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. SPDR S&P International
Technology Sector ETF (IPK) remains flat as well.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) and
Semiconductor Sector Index Fund (SOXX) are unchanged.
In sector news, iGATE Corporation (IGTE) is down 0.52% after it
posted Q4 earnings of $0.49 per share and revenue of $299.3
million, versus the Street consensus of $0.48 per share on $296
million in revenue.
Dow Jones U.S. Energy Fund (IYE) and Select Sector SPDR (XLE)
are flat in pre-market trading.
In sector news, Pengrowth Energy Corp. (PGH) said its board set
a 2014 capital budget of $715 million and an annual average
production target of 71,000 to 73,000 barrels of oil equivalent per
day, with both the capital budget and production target down from
2013 following some noncore asset dispositions last year.
February crude was up 0.2% while United States Oil Fund (USO) is
down 0.12%. March natural gas is up 3.44%; United States Natural
Gas Fund (UNG) is up 3.32%.
February gold is down 0.06%, and SPDR Gold Trust (GLD) is down
0.23%. March silver is down 0.42%; iShares Silver Trust (SLV) is
down 0.41% this morning.
Health Care SPDR (XLV), Vanguard Health Care ETF (VHT) and
iShares Dow Jones US Healthcare (IYH) are flat pre-market. Biotech
ETF iShares NASDAQ Biotechnology Index (IBB) was flat after seeing
gains in the previous session.
Among stocks, UnitedHealth Group Inc. (UNH) is down 2.46% after
the health and well-being company reported Q4 diluted EPS of $1.41,
a penny better than the analyst consensus on Capital IQ. Revenues
for the period totaled $31.1 billion, up from $28.8 billion last
year and in line with expectations. The company continues to
estimate 2014 revenues of $128 billion to $129 billion and net
earnings in the range of $5.40 to $5.60 per share. The Street is at
$131.9 bln in revenue and earnings of $5.62 per share.
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