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ETF Preview: ETFs, Stock Futures Edge Higher as Oil, Gold Prices Rise


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Active broad-market exchange-traded funds in Friday's pre-market session:

Market Vectors Gold Miners ( GDX ): +3.6%

iShares MSCI Emerging Markets Index ( EEM ): +0.7%

iShares Russell 2000 Index ( IWM ): +0.3%

PowerShares QQQ Trust, Series 1 ( QQQ ): +0.3%

Energy Select Sector SPDR ( XLE ): +0.3%

Broad-Market Indicators

Most broad-market exchange-traded funds, including SPY, IWM, IVV and others, were higher, and actively traded PowerShares QQQ ( QQQ ) was up 0.3%.

U.S. stock futures were edging higher in low volume trading a day after Christmas, with oil and gold prices also jumping higher.

The Dow Jones Industrial Average was back up above 18000 while the S&P 500 index slipped lower, although it remains above 2081 after touching record highs before Christmas.

No economic data are on tap.

Power Play: Health Care

Health Care SPDR (XLV), Vanguard Health Care ETF (VHT) and iShares Dow Jones US Healthcare (IYH) were flat. Biotechnology fund iShares NASDAQ Biotechnology Index (IBB) was up 1.1%.

Spectrum Pharmaceuticals (SPPI) was up 5.8% after it said Friday it has submitted a new-drug application to the U.S. Food and Drug Administration for the approval of Captisol-Enabled Melphalan HCl for injection for use as a high-dose conditioning treatment prior to hematopoietic progenitor (stem) cell transplantation in patients with multiple myeloma. Spectrum said it is also seeking approval for the palliative treatment of patients with multiple myeloma for whom oral therapy isn't appropriate.

Winners and Losers

Financial

Select Financial Sector SPDRs (XLF) was flat. Direxion Daily Financial Bull 3X shares (FAS) and its bearish counterpart, FAZ were also flat.

Citigroup (C) was up 0.2% after it said it has reached an agreement to sell its retail banking business in Japan to Sumitomo Mitsui Banking. Citigroup's entire retail banking operations, including its Japan-wide network of retail branches and ATMs, will be transferred to a trust bank subsidiary of SMBC.

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 inactive. SPDR S&P International Technology Sector ETF (IPK) was also unchanged.

Semiconductor ETFs SPDR S&P Semiconductor (XSD) and Semiconductor Sector Index Fund (SOXX) were flat in pre-market trading .

Carbonite (CARB) confirmed late Wednesday that it has received and will review an unsolicited $15-per-share tender offer for the acquisition of all its outstanding shares of common stock from Internet-services provider j2 Global (JCOM). Earlier on Wednesday, j2 Global had announced its intent to make the offer. It recommended that shareholders don't take action before the review is complete.

CARB closed up 6.9% Wednesday at $14.54, boosted by j2's announcement that it would make the offer. At Tuesday's close--the last closing price before the offer was announced--the stock was at $13.60, putting the offer's premium at 10%. JCOM shares were flat.

Energy

Dow Jones U.S. Energy Fund (IYE) was flat while Energy Select Sector SPDR ( XLE ) was up 0.34%.

Petrobras (PBR) was up 0.13% after it said it has been authorized by Brazil's oil regulator ANP to commence drilling at the Buzios field, which is located about 200 kilometers off the coast of Rio Janeiro at a water depth of 1600 meters to 2100 meters, Bloomberg reported. Petrobras will run production at the 2-ANP-1RJS well for a period of approximately seven months as granted by the regulator.

Commodities

Crude was up 1.1%. United States Oil Fund (USO) was flat. Natural gas futures was down 0.6%. United States Natural Gas Fund (UNG) was down 0.7%.

Gold was up 1.8% while silver was up 2.6%. Among rare metal funds, SPDR Gold Trust (GLD) was up 1.8% while iShares Silver Trust (SLV) was up 2.7%.

Consumer

Consumer Staples Select Sector SPDR (XLP), iShares Dow Jones US Consumer Goods (IYK) and Vanguard Consumer Staples ETF (VDC) were inactive.

Sony (SNE) subsidiary Sony Pictures Entertainment released "The Interview" in more than 300 U.S. theaters on Christmas Day and the movie drew "many sell-out audiences," according to a report from Reuters. The company also made the film will be available to rent in HD on Google Play, YouTube Movies, Microsoft's (MSFT) Xbox Video and the dedicated website www.seetheinterview.com at a price of $5.99. The film was available for purchase in HD for $14.99. The Reuters report didn't provide figures on the number of sellout shows or downloads. It cited a SNE spokesperson who said the figures weren't expected before Friday morning. SNE shares were up 0.56%.

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) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.



This article appears in: Investing , Commodities
Referenced Symbols: GDX , EEM , IWM , QQQ , XLE


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