Mid-Day ETF Update: Broad Market ETF's Mostly Higher, Homebuilding Funds Strong

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

SPDR S&P 500 ( SPY ): +0.88%, hit new year highs.

iPath S&P VIX Short Term Futures ( VXX ) -3%.

iShares Russell 2000 ( IWM ): +1.55%

iShares MSCI Emerging Markets Index ( EEM ): +0.68%

Select Financial Sector SPDRS ( XLF ): +0.78% to near year highs

Broad Market Indicators

Broad-market exchange-traded funds, including SPY, IWM, IVV and others, are modestly firmer. Actively traded PowerShares QQQ (QQQ) is up 1.3% at $71.31, a new year high.

U.S. stock indices are all higher mid-day after economic data that showed U.S. jobless claims filed last week fell to their lowest level since January 2008 and the U.S. trade gap narrowed sharply in March. The European Central Bank's decision to cut interest rates, as expected, also gave the market a boost, with ECB head Mario Draghi stating that the ECB's monetary policy would remain accommodative. Strong earnings from General Motors (GM), Facebook (FB), Visa (V) and others also helped sentiment.

Winners and Losers

Financial -

Select Financial Sector SPDRs ( XLF ) is up 0.76%. Direxion Daily Financial Bull 3X shares (FAS) is up 2.1% and closing in on a 52-week high. Its bearish counterpart, FAZ, is down 2.2% and nearer to year lows.

Among financial stocks, Visa (V) is up 6.5% at around $176.80, but earlier touched a year high of $179.66, after it posted a fiscal second-quarter profit that beat analysts' estimates as spending on credit and debit cards rose. Net income fell 1.7% to $1.27 billion or $1.92 a share, beating the $1.81 consensus.

Technology -

Tech ETFs Technology Select Sector SPDR ETF (XLK) is up 1.21% and nearer year highs; iShares Dow Jones US Technology ETF (IYW) is gaining 1.1%; iShares S&P North American Technology ETF (IGM) is up 0.3% and iShares S&P North American Technology-Software Index (IGV) has gained 1%.

Semiconductor ETFs, SPDR S&P Semiconductor (XSD) and Semiconductor Sector Index Fund (SOXX) are also gaining, with SOXX hitting fresh year highs. SPDR S&P International Technology Sector ETF (IPK) is up 0.8%, also at year highs.

In sector news, NII Holdings (NIHD) has lost early gains and has now tumbled 7% after it reported a Q1 GAAP loss of $1.21 per share, ex one-time items, versus the Capital IQ GAAP consensus of $0.66 loss per share. Revenues were $1.41 billion, versus the analyst estimate of $1.46 billion. The company said that it added 152,000 net subscribers to its network this quarter, bringing its ending subscriber base to over 11.5 million, a 5% increase from March 31, 2012.

Construction -

SPDR Homebuilders ETF (XHB) and DJ US Home Construction (ITB) are showing strong gains, up 2.2% and 2.9% respectively, with both heading toward year highs.

Commodities -

June crude was up 1.78%; July natural gas was down 6.42%. United States Oil Fund (USO) was up 2.5%. United States Natural Gas Fund (UNG) is down 6.2%.

June gold is up 1.58% and silver for July delivery is up 2.17%. Among rare metal funds, SPDR Gold Trust (GLD) is up 0.7%; iShares Silver Trust (SLV) is up 1.1%.

Healthcare -

Healthcare ETFs Health Care SPDR (XLV), Vanguard Health Care ETF (VHT), and iShares Dow Jones US Healthcare (IYH) are showing gains of more than 1%. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) is up 2%.

In corporate news, Catamaran (CTRX) is down nearly 6% at $53.70 but almost $3 above a day low $50.88 after it reported Q1 earnings of $0.42 per share, versus the Capital IQ consensus of $0.41. Revenues were $3.22 billion, versus the analyst estimate of $3.52 billion. The company reaffirms its FY13 guidance, still expecting EPS of $1.81 - $1.88, ex non-recurring items, versus the consensus of $1.87 EPS. It sees revenues of $14.2 billion - $14.6 billion, in line with the Street view of $14.51 billion.

Consumer -

Consumer ETFs Consumer Staples Select Sector SPDR (XLP), iShares Dow Jones US Consumer Goods (IYK), and Vanguard Consumer Staples ETF (VDC) are all modestly higher, but heading towards year highs

In sector news, Kellogg (K) is now up 4 cents at $5.44 - having touched a $5.53 day high in early going and dipped quickly to a day low $5.40 before recovering somewhat - after reporting an adjusted EPS of $0.99 for Q1 with revenue of $3.86 billion. Analysts expected $3.9 billion in revenue with $1.02 in earnings per share, according to Capital IQ. For the full year, the company expects EPS of $3.82 to $3.91 per share. The analyst consensus on Cap IQ is $3.87 per share.

Energy -

Dow Jones U.S. Energy Fund (IYE) has risen 1% and Energy Select Sector SPDR (XLE) is up 1.1%.

In sector news, Norway's Statoil (STO) has fallen 3.2% after posting a more than halving in Q1 net profit, a fall in production and a fall in oil and gas prices received. Statoil said in a statement to the Oslo Bors that Q1 net income more than halved to NOK6.4 billion ($1.1 billion), from NOK15.4 billion for Q1 last year. It said it was hit by outages in two major fields offshore Norway and one offshore Brazil. The average liquids price it received came in at $103.50 a barrel in Q1, down 7% from $111.50 a barrel last year. Q1 production was 1.998 million barrels of oil equivalent/day, down 9% for last year.



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 , IWM , SPY , VXX , XLF

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