ETF Update: ETFs Mostly Higher, But Stocks Backslide As Earnings Concerns Outweigh Upbeat Data


Active broad-market exchange-traded funds at mid-day:

SPDR S&P 500 ( SPY ): +0.1%

Financial Select Sector SPDR ( XLF ): +0.13%, near year highs

iShares MSCI Emerging Markets Index ( EEM ): +1%

PowerShares QQQ Trust, Series 1 ( QQQ ): +0.1%

iShares Russell 2000 Index ( IWM ): +0.14%

Broad Market Indicators

Broad-market exchange-traded funds, including SPY, IWM, IVV and others, are mostly higher. Actively traded PowerShares QQQ ( QQQ ) is up 0.1%.

U.S. stocks have turned lower after seeing earlier gains on the heels of the September durable goods orders data. There was an increase of 9.9%, above the expected 8.3% rise. The Labor Department also reported that first-time U.S. jobless claims fell to 369,000, in line with forecasts. But the cheer brought on by upbeat economic data has receded and worries about earnings and global economic growth have again taken hold on sentiment. Investors are now looking ahead to Apple's (AAPL) earnings report, due in the after hours session later.

Winners and Losers

Financial -

Select Financial Sector SPDRs ( XLF ) is now up 0.13% and edging closer to 52 week highs; Direxion Daily Financial Bull 3X shares (FAS) is down -0.02%. Its bearish counterpart, FAZ, is down 0.06%.

Among financial stocks, Ameriprise Financial (AMP) is up 5.50% after jumping to a new 52-week high as the company reported earnings.

Energy -

Energy ETFs are firmer, with Dow Jones U.S. Energy Fund (IYE) up 0.5% and Energy Select Sector SPDR (XLE) up 0.6%.

In sector news, CARBO Ceramics (CRR) is up 13% after the ceramic proppant supplier reported third quarter 2012 results.

Commodities -

Crude was up 0.06%; natural gas was down 0.79%. United States Oil Fund (USO) is up 0.1%. United States Natural Gas Fund (UNG) is up 0.4%.

Gold was up 0.71% and silver was up 1.38%. Among rare metal funds, SPDR Gold Trust (GLD) is up 0.7%; iShares Silver Trust (SLV) is up 1.2%.

Healthcare -

Healthcare ETFs are in positive territory: Health Care SPDR (XLV), up 0.75% to within a $1 of year highs; Vanguard Health Care ETF (VHT), up 0.8%; and iShares Dow Jones US Healthcare (IYH), up 0.75%. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) is up 0.28%.

In earnings news, Mead Johnson Nutrition (MJN) is down 9.2% after the company's Q3 EPS of $0.71 missed the Capital IQ consensus of $0.72; revenues fell 1.3% year-over-year to $921.3 mln, also below the consensus of $976.9 mln. The company narrowed its FY12 EPS guidance to $3.02 - $3.07, below the Street view of $3.10.

Consumer -

Consumer ETFs are higher: Consumer Staples Select Sector SPDR (XLP), up 0.6% to around $1 off year highs; iShares Dow Jones US Consumer Goods (IYK), up 0.5%; and Vanguard Consumer Staples ETF (VDC), up 0.67%.

Retail ETFs: SPDR S&P Retail (XRT), now up 0.03%; PowerShares Dynamic Retail (PMR), down 0.12%; and Market Vectors Retail ETF (RTH), up 0.3% having earlier hit a new 52 week high.

In sector news, Procter & Gamble (PG) is up 3% and earlier touched a new year high after reporting Q1 EPS of $0.96, in-line with the analyst estimate. Revenue for the quarter came in at $20.7 billion, also in-line. The company says it sees Q2 EPS of $1.18 - $1.25, ahead of the Street view for $1.10.

Power Play -

Technology -

Tech ETFs Technology Select Sector SPDR ETF (XLK), down 0.1%, iShares Dow Jones US Technology ETF (IYW), down 0.16%; iShares S&P North American Technology ETF (IGM), now up 0.05%; and iShares S&P North American Technology-Software Index (IGV), down 0.07%.

Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) is now up 0.07% from near year lows while Semiconductor Sector Index Fund (SOXX) is up 0.67%.

SPDR S&P International Technology Sector ETF (IPK) is flat.

In sector news, Zynga (ZNGA) is up 12% after reporting late Wednesday that Q3 revenue was $317 mln, vs. the analyst consensus of $307.5 mln on Capital IQ. Earnings were $0.00 per share, in line with expectations. The company also approved a $200 mln share buyback program and announced a cost reduction program. For the full year 2012, the company expects EPS in the range of $0.02 to $0.03 per share. The Street is at $0.04 per share.

Apple (AAPL) is down 1%. The tech giant is scheduled to report its earnings in today's after hours session.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: EEM , IWM , QQQ , SPY , XLF

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