Mid-Day ETF Update: Broad Market ETFs Mixed, Gold and Silver Funds Continue to Lose Lustre

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

SPDR S&P 500 ( SPY ): +0.19%

iShares MSCI Japan Index Fund ( EWJ ) +3.3%

Select Financial Sector SPDRS ( XLF ): +0.2%

iShares MSCI Emerging Markets Index ( EEM ): -0.86%

iShares Russell 2000 ( IWM ): +0.35%

Broad Market Indicators

Broad-market exchange-traded funds, including SPY, IWM, IVV and others, were mixed at mid-day. Actively traded PowerShares QQQ (QQQ) was up 0.38%. Gold and silver funds were among the worst performers, with the Direxion Daily Gold Miners Bull 3X Shares (NUGT) down 6.8%. iShares MSCI Japan Index fund ( EWJ ) was among the biggest gainers, up 3.3%, reflecting today's rebound in Japanese equities.

U.S. stocks were hovering around the break even point as investors weighed whether the economic recovery is strong enough to withstand the withdrawal of stimulus from the Federal Reserve. The Commerce Department's trade data report this morning showed that the trade deficit rose 8.5% to $40.3 billion in April, less than the expectations of an increase to $41.5 billion from $38.8 billion in March, according to economists polled by MarketWatch.

Winners and Losers

Financial -

Select Financial Sector SPDRs ( XLF ) was down 0.01%. Direxion Daily Financial Bull 3X shares (FAS) was down 0.16%. Its bearish counterpart, FAZ, was up 0.49%, but remains close to its 52-week low.

Among financial stocks, HSBC (HBC) was tipping higher, up 0.50%, following a Bloomberg report that the bank is being sued by New York Attorney General Eric Schneiderman, who says it "broke New York foreclosure law and put homeowners at greater risk of losing their homes".

Technology -

Tech ETFs Technology Select Sector SPDR ETF (XLK) was up 0.19%, iShares Dow Jones US Technology ETF (IYW) was up 0.21%, iShares S&P North American Technology ETF (IGM) was up 0.28% and iShares S&P North American Technology-Software Index (IGV) was down 0.25%. All are trading close to 52-week highs.

Semiconductor ETFs, SPDR S&P Semiconductor (XSD) is up 0.86% and earlier came within two cents of its 52-week high and Semiconductor Sector Index Fund (SOXX) was up 1.86% and earlier set a 52-week high of $64.87.

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

In sector news, Salesforce.com (CRM) is acquiring ExactTarget (ET), a cloud marketing platform, for approximately $2.5 billion. Salesforce.com will commence a tender offer for all outstanding shares of ExactTarget for $33.75 per share, in cash. The transaction has been unanimously approved by the Boards of Directors of both companies. Salesforce.com shares are down 2.9%; ET is up 52.5% and set a new year high of $33.75.

Energy -

Dow Jones U.S. Energy Fund (IYE) has dropped 0.65% and Energy Select Sector SPDR (XLE) is down 0.68%.

In company news, Magnum Hunter Resources Corp. (MHR) was up for a second day, rising more than 5% to $3.77 a share and breezing past Monday's $3.50 session high after another oil and gas driller operating in the Marcellus shale formation in Pennsylvania and West Virginia late last week raised the estimated ultimate recovery rates for its Marcellus properties.

Commodities -

July crude was up 0.8%; July natural gas is up 0.68%. United States Oil Fund (USO) is up 0.84%. United States Natural Gas Fund (UNG) is up 0.62%.

August gold was down 1.08% and silver for July delivery is down 1.5%. Among rare metal funds, SPDR Gold Trust (GLD) was down 1.01% and near its low for the year; iShares Silver Trust (SLV) was down 1.36% and also toward the bottom of its 52-week range.

Consumer -

Consumer ETFs Consumer Staples Select Sector SPDR (XLP) was down 0.25%, iShares Dow Jones US Consumer Goods (IYK) is down 0.26%, and Vanguard Consumer Staples ETF (VDC) was down 0.3%.

In company news, G-III Apparel Group, Ltd. (GIII) was up 18.1% to $50.46 a share, earlier climbing to a new 52-week high of $51.50 after reporting Q1 earnings of $0.05 per share, $0.10 better than the Capital IQ consensus looking for a $0.05 per share loss.

Healthcare -

Healthcare ETFs Health Care SPDR (XLV) was off 0.47%, Vanguard Health Care ETF (VHT) was down 0.42%, and iShares Dow Jones US Healthcare (IYH) was down 0.4%. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) was down 1.1%.

In corporate news, AstraZeneca (AZN) was down 0.68% while partner, Rigl Pharmaceuticals was down 17.22% after the companies announced that based on the totality of results from its OSKIRA Phase III programme, including the data previously reported from OSKIRA-1, AstraZeneca has decided not to proceed with regulatory filings for fostamatinib. The company said it will return the rights to the compound to Rigel Pharma which will decide whether it will continue the ongoing studies and pursue regulatory filings.



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 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

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

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