Active broad-market exchange-traded funds in Tuesday's regular
SPDR S&P 500 (
iShares MSCI Japan Index Fund (
Select Financial Sector SPDRS (
iShares MSCI Emerging Markets Index (
iShares Russell 2000 (
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 (
) 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
Select Financial Sector SPDRs (
) 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
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
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.
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.
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 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 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
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