ETF Preview: ETFs Weaker, Stocks Inch Up Ahead of Fed Speakers; Blackberry Still Reeling After Downbeat Guidance


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

SPDR S&P 500 ( SPY ): -0.79%

iShares S&P 500 ( IVV ): -0.78%

PowerShares QQQ ( QQQ ): -0.35%

iShares Russell 2000 ( IWM ): -0.38%

iShares Russell 1000 Growth ( IWF ): -0.74%

iShares MSCI Emerging Markets Index (EEM): -2.35%

United States Oil Fund (USO): -0.79%

SPDR Gold Shares (GLD): -2.94%

Select Financial Sector SPDRS (XLF): -0.63%

Pre-Market Most Active:

SPY, -0.13%

GDX, -0.27%

EEM, +0.12%

VXX, -0.72%

IWM, -0.85%

Broad Market Indicators

Broad-market exchange-traded funds, including SPY, IWM, IVV and others, are slightly weaker. Actively traded PowerShares QQQ ( QQQ ) is down 0.11%.

U.S. stock futures are edging higher as markets await speeches from several Federal Reserve officials: Atlanta Fed Bank President Dennis Lockhart will speak at 9:20 am ET; New York Federal Reserve President William Dudley is scheduled to give a speech at 9:30 am ET; and Dallas Fed President Richard Fisher is due to give his comments at 1:30 pm ET. Investors have been cautious following the sharp sell-off last week when the Fed announced its decision to continue with its bond-buying program. In economic data, the Chicago Fed National Activity index showed a positive reading for August. Still ahead, the Markit Purchasing Managers' Index flash estimate for September will be reported 9:00 am ET.

Winners and Losers

Financial -

Select Financial Sector SPDRs (XLF) is up 0.81%. Direxion Daily Financial Bull 3X shares (FAS) is down 0.29%. Its bearish counterpart, FAZ, is up 0.82%.

Among financial stocks, Citigroup (C) shares are down about 2% in pre-market trade following a report on Financial Times that said the bank's trading revenue fell sharply after a slowdown during the summer.

Energy -

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

In sector news, PowerSecure International (POWR) and Hometown Connections, a utility services subsidiary of the American Public Power Association (APPA), have entered a partnership to provide standby power generation to public power systems that will help during outages and during costly periods of peak demand. The partnership will also deliver energy and maintenance savings from outdoor LED lighting to commercial and industrial customers.

Commodities -

November crude is down 0.04%; November natural gas is down 1.12%. United States Oil Fund (USO) is up 0.56%. United States Natural Gas Fund (UNG) is down 1.03%.

December gold is down 0.72% and silver for December delivery is down 0.69%. Among rare metal funds, SPDR Gold Trust (GLD) is down 0.12%; iShares Silver Trust (SLV) is down 0.19%.

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 higher start.

In sector news, J.C. Penney Co Inc (JCP) is down 1.70% following a report on Reuters that stated Vornado Realty Trust (VNO) sold its 13.4 million shares in JCP for $13 a share. Vornado, which had been pushing for change at the struggling retailer, owned 6.1% of the company's shares, Reuters said. The sale comes amid reports that J.C. Penney is seeking new cash.

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, Alexion Pharmaceuticals (ALXN) says researchers have presented data from an ongoing multinational Phase 2 study of asfotase alfa in infants and young children with hypophosphatasia (HPP), an inherited, ultra-rare metabolic disorder that in this patient population leads to progressive damage to multiple vital organs, destruction and deformity of bones, and death. The study met its primary endpoint: infants and young children with HPP treated with asfotase alfa had significant improvement in skeletal mineralization from baseline as assessed radiographically after 24 weeks of treatment.

Power Play -

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, Blackberry (BBRY) stock is now down more than 6% pre-market after the smartphone maker forecast a wider-than-expected quarterly loss late Friday, announcing plans to slash its workforce by 40% and to refocus on its core corporate market away from consumers. The decision prompted many negative press reports over the weekend, citing analysts predicting the shift in business focus will accelerate the company's decline.

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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