Active broad-market exchange-traded funds in Tuesday's regular
SPDR S&P 500 (
iShares S&P 500 (
PowerShares QQQ (
iShares Russell 2000 (
iShares Russell 1000 Growth (
iShares MSCI Emerging Markets Index (EEM): -0.90%
United States Oil Fund (USO): -0.13%
SPDR Gold Shares (GLD): +0.11%
Select Financial Sector SPDRS (XLF): -0.60%
Pre-Market Most Active:
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, are weaker. Actively traded PowerShares QQQ (
) is down 0.11%.
U.S. stock futures are edging lower amid choppy trading in the
pre-market session, with continued uncertainty over the U.S. debt
ceiling and the Federal Reserve's tapering of its bond-buying
program. Investors will be looking at economic data on tap - August
durable orders will be reported at 8:30 am ET, while new home sales
for August is scheduled for release at 10 am ET. The report on
petroleum inventories will be released at 10:30 am ET.
Winners and Losers
Select Financial Sector SPDRs (XLF) is up 0.05%. Direxion Daily
Financial Bull 3X shares (FAS) is down 0.16%. Its bearish
counterpart, FAZ, is up 0.24%.
Among financial stocks, Marsh & McLennan Companies (MMC) has
priced $250 million of 2.55% senior notes due 2018 and $250 million
of 4.05% senior notes due 2023. The company intends to use the net
proceeds for general corporate purposes, which will include the
redemption of $250 million of the outstanding principal amount of
its existing 5.75% senior notes due September 2015.
Tech ETFs 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 leaning higher.
Semiconductor ETFs, SPDR S&P Semiconductor (XSD) and
Semiconductor Sector Index Fund (SOXX) look to open in the
SPDR S&P International Technology Sector ETF (IPK) is headed
for a flat to higher open.
In sector news, AT&T (T) CEO Randall Stephenson said the
company will likely not acquire Dish Network (DISH) amid a
challenging regulatory environment, the Wall Street Journal
reports, citing Stephenson's comments at an investor conference
Dow Jones U.S. Energy Fund (IYE) and Energy Select Sector SPDR
(XLE) are heading for a firmer start.
In sector news, Noble Corporation (NE) is up 3.48% after the
company said late Tuesday it is planning on establishing a separate
business comprised of many of its standard specification drilling
units, resulting in the creation of two separate offshore drilling
November crude is up 0.57% ahead of the petroleum inventories
report at 10:30 am ET; November natural gas is up 0.65%. United
States Oil Fund (USO) is up 0.75%. United States Natural Gas Fund
(UNG) is flat.
December gold is up 0.42% and silver for December delivery is up
0.34%. Among rare metal funds, SPDR Gold Trust (GLD) is down 0.13%;
iShares Silver Trust (SLV) is down 0.24%.
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 higher start.
In sector news, Ascena Retail (ASNA) is up 14.32% after the
company reported late Tuesday Q4 EPS from continuing ops of $0.23
per share and adjusted EPS of $0.34, vs. the analyst consensus of
$0.20 per share on Capital IQ. Sales were $1.19 billion, vs.
expectations of $1.16 billion.
Power Play -
Healthcare ETFs Health Care SPDR (XLV), Vanguard Health Care ETF
(VHT), and iShares Dow Jones US Healthcare (IYH) are pointing to a
negative start. Biotech ETF iShares NASDAQ Biotechnology Index
(IBB) is also pointing lower.
In corporate news, Oncothyreon Inc. (ONTY) is surging 33.33% in
pre-market trading after it announced that Merck Serono, the
biopharmaceutical division of Merck KGaA, has decided to continue
clinical development of the investigational MUC1 antigen-specific
cancer immunotherapy tecemotide. Merck Serono, which is developing
tecemotide under a license agreement with Oncothyreon, will conduct
a new Phase 3 trial called START2 for patients with unresectable,
locally advanced Stage III non-small cell lung cancer.