ETF Preview: ETFs Turn Positive, Futures Firmer Following Jobless Claims Data


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Active broad-market exchange-traded funds in Wednesday's regular session:

SPDR S&P 500 ( SPY ): +0.51%

iShares S&P 500 ( IVV ): -1.45%

PowerShares QQQ ( QQQ ): -1.30%

iShares Russell 2000 ( IWM ): -1.33%

iShares Russell 1000 Growth ( IWF ): -1.40%

iShares MSCI Emerging Markets Index (EEM): -1.79%

United States Oil Fund (USO): +0.18%

SPDR Gold Shares (GLD): +0.21%

Select Financial Sector SPDRS (XLF): -1.63%

Pre-Market Most Active:

SPY, +0.06%

XLF, +0.31%

EEM, +0.42%

EWJ, -0.57%

VXX, -0.40%

Broad Market Indicators

Broad-market exchange-traded funds, including SPY, IWM, IVV and others, are modestly firmer. Actively traded PowerShares QQQ ( QQQ ) is up 0.42%.

U.S. stock futures are pointing to a positive open following the report that weekly jobless claims fell by 11,000 to 346,000 - a little above the forecasts of seasonally adjusted claims of 345,000, according to MarketWatch. The average of new claims over the past month, increased by 4,500 to 352,500 - the highest level in six weeks, according to the Labor Department. Continuing claims fell 52,000 to a seasonally adjusted 2.95 million in the week ended May 25.

Winners and Losers

Financial -

Select Financial Sector SPDRs (XLF) is up 0.31%. Direxion Daily Financial Bull 3X shares (FAS) is up 1.36%. Its bearish counterpart, FAZ, is down 0.88%.

Among financial stocks, Credit Suisse (CS) is expected to take a leading role in the anticipated IPO of China's Alibaba Group, says Reuters, citing people familiar with the matter. This would yield massive fees for the bank, the report adds. CS shares are down 0.72%.

Technology -

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 green.

SPDR S&P International Technology Sector ETF (IPK) is headed for a flat to higher open.

In sector news, Verifone Systems (PAY) is down 15%, adding to after-hours losses when the company posted non-GAAP net revenues of $430 million and non-GAAP net income per diluted share of $0.42. Analysts expected net revenue of $441 million and earnings of $0.47, according to Capital IQ. For Q3, VeriFone expects non-GAAP net revenues of approximately $400 million non-GAAP net income per diluted share of approximately $0.20. The Street view is $461 mln in revenue and earnings of $0.50 per share.

Energy -

Dow Jones U.S. Energy Fund (IYE) and Energy Select Sector SPDR (XLE) are heading for a firmer start.

In sector news, Ferrellgas Partners, L.P. (FGP) reported Q3 earnings of $0.56 per share, versus the Capital IQ consensus of $0.45. Revenues were $603.02 million, versus the analyst estimate of $563.97 million.

Commodities -

July crude is up 0.5%; July natural gas is down 0.40%. United States Oil Fund (USO) is up 0.66%. United States Natural Gas Fund (UNG) is down 0.47%.

August gold is up 0.29% and silver for July delivery is up 0.28%. Among rare metal funds, SPDR Gold Trust (GLD) is up 0.08%; iShares Silver Trust (SLV) is up 0.3%.

Healthcare -

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, Ciena (CIEN) is up 10.36% after it reported Q2 non-GAAP EPS of $0.02, vs. the analyst consensus of a loss of $0.01 per share on Capital IQ. Revenue was $5057.7 mln, vs. expectations of $483.6 mln. For Q3, the company expects revenue in the range of $515 to $545 mln, vs. expectations of $509.4 mln.

Power Play -

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 weaker start.

In sector news, Sodastream International Ltd (SODA) is up 8.55% even after PepsiCo (PEP) refuted earlier reports and said it is not interested in pursuing SodaStream right now, says CEO Indra Nooyi, according to Bloomberg. It was earlier reported that PepsiCo (PEP) is in talks to buy the company for more than $2 billion, according to Bloomberg, citing an Israeli business website. PEP shares are up 0.06%.

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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