Active broad-market exchange-traded funds in Friday'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): -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:
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, are slightly weaker. Actively traded PowerShares 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
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
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.
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 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 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 -
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
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.