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): -1.15%
United States Oil Fund (USO): +0.12%
SPDR Gold Shares (GLD): -0.94%
Select Financial Sector SPDRS (XLF): +0.91%
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 0.37%.
U.S. stock futures continue to slip lower following Automatic
Data Processing reporting that the economy gained 135,000 jobs in
the private-sector for the month of May, a slight increase over the
previous month of April. However, this was less than the 157,000
jobs expected by economists polled by Briefing.com. Investors are
also digesting two reports from the government - revised Q1
productivity, which was revised up 0.5%, in line with forecasts,
and Q1 labor costs, which was revised down 4.3%, versus the
consensus of an increase of 0.6%. A slew of economic data is still
on tap today, including factory orders for April and ISM services
data for May, both at 10 am ET; petroleum inventories at 10:30 am
ET; and the Fed's Beige Book for June at 2 pm ET.
Winners and Losers
Select Financial Sector SPDRs (XLF) is down 0.41%. Direxion
Daily Financial Bull 3X shares (FAS) is down 1.45%. Its bearish
counterpart, FAZ, is up 1.31%.
Among financial stocks, RCS Capital Corporation (RCAP), a
holding company with focus on the retail direct investment
industry, announced the pricing of its initial public offering of
2.5 million shares of Class A common stock at $20 per share. The
shares will begin trading on the New York Stock Exchange today
under the ticker symbol "RCAP". The underwriters have the option to
purchase from the company up to an additional 375,000 shares of
Class A common stock, on the same terms and conditions.
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 lower.
Semiconductor ETFs, SPDR S&P Semiconductor (XSD) and
Semiconductor Sector Index Fund (SOXX) look to open in the red.
SPDR S&P International Technology Sector ETF (IPK) is headed
for a flat to lower open.
In sector news, HP (HPQ) is down 0.24% after it announced that
it has inked a $220 million contract to continue its 20-year
relationship as Indiana's Medicaid fiscal agent.
Dow Jones U.S. Energy Fund (IYE) and Energy Select Sector SPDR
(XLE) are heading for a weaker start.
In sector news, Nordic American Tanker Ltd. (NAT) subsidiary
Orion Tankers Ltd. has renewed its commercial agreement with a
subsidiary of ExxonMobil Corporation (XOM). The contract provides
for a firm 2 year extension to the initial one year agreement that
took effect May 2012. NAT shares are flat while XOM shares are down
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, Shares of Toyota (TM) is down 2.62% after the
company said it will conduct a voluntary global recall involving
approximately 242,000 Prius and Lexus hybrid cars made between
March and October 2009 due to a problem causing nitrogen gas to
leak into the brake fluid, reducing the effectiveness of the
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, Neurometrix (NURO) is down 10% after the
company announced that it entered into a definitive securities
purchase agreement with a single institutional investor, which
provides for the issuance of $5 million of shares of Series A-1 and
Series A-2 convertible preferred stock and five year warrants to
purchase up to 2,386,635 shares of common stock at an exercise
price of $2.00 per share. Subject to certain ownership limitations,
the Series A-1 and Series A-2 convertible preferred stock is
convertible at any time into shares of common stock at an initial
conversion price of $2.095 per share. The preferred stock is not
entitled to dividends and will not have any preferences over the
company's common stock, including liquidation rights.
Power Play -
ETFs in the commodities space, particularly for oil, are
expected to see active trade with the petroleum inventories due out
10:30 am ET. July crude is up 0.47%; July natural gas is up 0.43%.
United States Oil Fund (USO) is up 0.45%. United States Natural Gas
Fund (UNG) is up 0.56%.
August gold is up 0.57% and silver for July delivery is up
0.27%. Among rare metal funds, SPDR Gold Trust (GLD) is up 0.13%;
iShares Silver Trust (SLV) is up 0.32%.
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