SPDR S&P 500 (
Financial Select Sector SPDR (
Direxion Daily Financial Bull 3X Shares (
iShares Russell 2000 Index (
iShares MSCI Emerging Markets Index (
Pre-Market ETF Most Actives:
Winners and Losers
Broad ETFs are trading lower with QQQ, SPY and EEM all moving to
the downside in pre-bell trading as index futures tipped lower as
concerns over the eurozone debt crisis again took center stage.
Investors were awaiting a vote by Slovakia on broadening the
euro zone rescue fund. Greece's bondholders may see as much as 60%
of their holdings in Greek debt written off as a loss, according to
an interview of the head of the eurozone finance ministers, cited
by a Reuters report.
Financial ETFs are mixed in the early going with the Financial
Select Sector SPDR (
) gaining 0.1% and the Direxion Daily Financial Bull 3X Shares (
) - one of yesterday's leading gainers - is slipping 2.5%. China's
four largest state-controlled banks saw their market values jump
after the investment arm of the Chinese government accumulated
shares, MarketWatch notes. The move has analysts concerned about
how long those gains would last, the report said. Here at home
financial shares are moving to the downside, with BAC down 1.5%, C
down 1.1%, WFC down 0.2% and JPM down 0.6%.
The ishares Barclays 20+ Year Treasury Bond Fund (TLT), an ETF
that tracks U.S. Treasuries, is edging higher in early pre-market
trade, an indication Treasuries could see a lift after the bond
market was closed for a holiday on Monday. The TLT is up between
116.71 and 116.98 after closing at 116.57. The ProShares Ultrashort
20+ Year Treasury (TBT), which moves in an inverse manner to the
TLT, is down this morning at 20.51. It closed Monday at 20.66.
Health care -
Health care ETFs are getting some support in pre-market trading,
with the Vanguard Health Care ETF (VHT) gaining 0.2% while the
Pharmaceutical HOLDR (PPH) getting some fractional upside support.
PDL BioPharma (PDLI) was downgraded to Sector Perform from
Outperform at RBC Capital based on valuation. The firm set a price
target of $6. Also, Biostar Pharmaceuticals (BSPM) was halted in
the pre-market session after it said its wholly owned subsidiary,
Shaanxi Aoxing Pharmaceutical, Ltd., entered into a Share Transfer
Agreement to acquire Shaanxi Weinan Huaren Pharmaceuticals, Ltd.
for $9.62 million.
Technology ETFs are trending higher with the Technology SPDR
(XLK) moving up 0.1% in pre-market trading While the Semiconductor
HOLDRs (SMH) is just firm. Shares of Apple (AAPL) are adding to
yesterday's gains, moving up 1%. . The company announced said its
4S iPhone exceeded the first-day pre-orders for the previous best
selling iPhone 4. The new phone has a faster processor and new
software features. Pre-orders exceeded 1 million phones, well ahead
of the previous record sale of 600,000 iPhone 4's in a single
Commodities and Mining -
Commodities - particularly oil ETFs - could see reduced interest
today as The Organization for Petroleum Exporting countries
continued to trim its outlook for global demand for the rest of
this year and next year. OPEC cut the global demand growth forecast
this year by 180,000 barrels of oil a day citing weakness in the
world economy. For next year, global demand growth forecast was
revised down by 70,000 barrels per day. The United States Oil Fund
(USO) is trading down 0.93% while the United States Natural Gas
Fund (UNG) is up 0.2%.
Commodity metal ETFs are slipping lower in the early going, with
SPDR Gold Shares (GLD) is down 0.92%. Market Vectors Gold Miners
(GDX) is down 0.69%. iShares Silver Trust (SLV) is down 1.8%.
Power Play -
ETFs encompassing basic materials could get some attention today
ahead of earnings from Alcoa (AA), which are due after the market
close. So far AA is down 0.3% ahead of the open. Analysts polled by
Thomson Reuters expect the aluminum giant to report a profit of
$0.22 per share on revenue of $6.22 billion. Watch funds like
iShares Dow Jones U.S. Basic Materials ETF (IYM) and the WisdomTree
International Basic Materials ETF (CCXE), both of which are flat to
lower in pre-market trade.
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