ETF Preview: ETFs Weaker, Futures Flat to Lower as Fisher Comments Weigh


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

SPDR S&P 500 ( SPY ): -0.01%

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

PowerShares QQQ ( QQQ ): -0.16%

iShares Russell 2000 ( IWM ): +0.16%

iShares Russell 1000 Growth ( IWF ): -0.01%

iShares MSCI Emerging Markets Index (EEM): -0.46%

United States Oil Fund (USO): +0.71%

SPDR Gold Shares (GLD): -0.31%

Select Financial Sector SPDRS (XLF): -0.02%

Pre-Market Most Active:

SPY, -0.17%

EEM, -0.46%

GDX, -0.08%

VXX, -0.30%

XLF, -0.22%

Broad Market Indicators

Broad-market exchange-traded funds, including SPY, IWM, IVV and others, are weaker. Actively traded PowerShares QQQ ( QQQ ) is down 0.22%.

U.S. stock futures are also edging lower, weighed by comments from Dallas Federal Reserve President Richard Fisher, who said that Wall Street should prepare for the tapering of the Fed's bond-buying program. With no economic data on tap for the day, financial results from companies such as Yingli Green Energy (YGE), Dean Foods (DF) and DISH Network (DISH) will be in the spotlight. Investors are also looking ahead to the Senate confirmation hearing of Janet Yellen as the new head of the Federal Reserve, which will be on Thursday.

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, Sarepta Therapeutics (SRPT) was down 51.67% after saying earlier that the U.S. Food and Drug Administration (FDA) is considering its new drug application for Eteplirsen to treat Duchenne muscular dystrophy as premature. The company also reported its Q3 non-GAAP net loss widened to $0.63 per share from a loss of $0.27 the year earlier, coming in slightly ahead of the $0.65 loss expected by analysts. Revenue fell to $4.2 million from $7.6 million, missing the $4.6 million average estimate.

Winners and Losers

Financial -

Select Financial Sector SPDRs (XLF) was flat. Direxion Daily Financial Bull 3X shares (FAS) is down 0.86%. Its bearish counterpart, FAZ, is up 0.12%.

Among financial stocks, GSV Capital (GSVC) is down more than 3% as it reported a Q3 net investment loss of $0.16 per share, an increase over the $0.12 per share loss a year prior. Analyst estimates were not available.


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 positive 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 lower open.

In sector news, software products developer Cimatron Ltd. (CIMT) was up 7.31% after reporting stronger-than-expected EPS and record revenues for Q3 2013. CIMT said non-GAAP diluted EPS was $0.11, up from $0.07 in the same period last year, beating the Thomson Reuters consensus of $0.06. Revenues rose year over year to a record $10.3 million from $9.5 million recorded in Q3 2012.

Energy -

Dow Jones U.S. Energy Fund (IYE) and Energy Select Sector SPDR (XLE) were flat, after seeing some gains in Monday's after hours.

In sector news, Northern Tier Energy (NTI) was down 0.04% after reporting Q3 revenue of $1.44 billion, up from $1.26 billion last year. Earnings were $0.30 per share. Analyst estimates called for revenue of about $2 bln and earnings of $0.49, if comparable. For Q4 2013, Northern Tier Energy projects it will realize total throughput of between 80,000 and 85,000 barrels per day at the Saint Paul Park Refinery and sales of between 82,500 and 87,500 barrels per day.

Commodities -

December crude is down 0.44%; natural gas for January delivery is up 0.97%. United States Oil Fund (USO) is down 0.67%, and United States Natural Gas Fund (UNG) is up 1.3%.

Gold and silver for December delivery are lower, down 0.07% and 0.43%, respectively. Among rare metal funds, SPDR Gold Trust (GLD) is down 0.1%; iShares Silver Trust (SLV) is down 0.49%.

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, Dean Foods (DF) is down 3.60% after the food and beverage company reported Q3 EPS of $0.12, ex one-time items, versus the Capital IQ consensus of $0.13 EPS. Revenues were $2.2 billion in line with the consensus of $2.19 billion. It sees Q4 of EPS of $0.17 - $0.23, below the Street view of $0.28.

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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