Active broad-market exchange-traded funds in Friday's regular
SPDR S&P 500 (
iShares MSCI Emerging Markets Index (
iPath S&P Vix Short Term Futures (
iShares MSCI Japan Index Fund (
Select Sector SPDR Fund Financial (
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, are lower. Actively traded PowerShares QQQ (QQQ) is down
focusing on China and Japan are weaker, with iShares FTSE China
Index Fund (FCHI) down 2.6%.
U.S. stocks are lower at mid-session after the International
Monetary Fund cut its U.S. growth forecast for 2014 to 2.7% from 3%
and urged caution in withdrawing monetary stimulus. The decline
comes despite better-than-expected economic data. May PPI was up
0.5%, better than the Briefing consensus of up 0.1%. Core PPI was
up 0.1%, in line with forecasts. Meanwhile, the U.S. Q1 current
account deficit was $106.1 billion, or 2.7% of gross domestic
product on an annualized basis, versus the forecasts of a deficit
of $111.5 billion, according to Briefing.com.
Winners and Losers
Tech ETFs Technology Select Sector SPDR ETF (XLK) is down 0.46%,
iShares Dow Jones US Technology ETF (IYW) is off 0.54%, iShares
S&P North American Technology ETF (IGM) has declined 0.5% and
iShares S&P North American Technology-Software Index (IGV) is
Semiconductor ETFs, SPDR S&P Semiconductor (XSD) and
Semiconductor Sector Index Fund (SOXX) are both modestly
SPDR S&P International Technology Sector ETF (IPK) is down
In sector news, Nokia (NOK) is up 3.4% following a Dow Jones
Newswires report that Siemens (SI) is talking with private equity
firms about buying its joint venture with Nokia. The story cites
analysts speculating the business could be worth $9.3 billion,
including debt. SI shares are down 1.09%.
Dow Jones U.S. Energy Fund (IYE) is down 0.7% while Energy
Select Sector SPDR (XLE) is also down 0.7%.
In sector news, Synergy Resources (SYRG) is now up 11.77% at
$7.12, adding to earlier gains of 4% after the company priced an
upsized underwritten public offering of 11.5 million shares of the
company's common stock at $6.25 per share.
July crude is up 1%; July natural gas is down 1.12%. United
States Oil Fund (USO) is up 1%. United States Natural Gas Fund
(UNG) is down 1.47%.
August gold is up 0.73% and silver for July delivery is up 2.2%.
Among rare metal funds, SPDR Gold Trust (GLD) is up 0.28%; iShares
Silver Trust (SLV) is up 1.33%.
Consumer ETFs Consumer Staples Select Sector SPDR (XLP) is flat,
iShares Dow Jones US Consumer Goods (IYK) is leaning slightly
higher, up 0.04%, and Vanguard Consumer Staples ETF (VDC) is
Restoration Hardware (RH) is now up 18%, slightly shy of a
52-week high of $70.16 hit earlier, after reporting Q1 results late
Thursday that came in twice as high as consensus forecasts,
prompting positive comments from CNBC's Jim Cramer. "This is really
a remarkable company," Cramer said. "This is a company that has
momentum like I wouldn't believe. Frankly, this is the best
momentum of any retailer there is."
Healthcare ETFs Health Care SPDR (XLV) is down 0.15%, Vanguard
Health Care ETF (VHT) is down 0.19%, and iShares Dow Jones US
Healthcare (IYH) is down 0.34%. Biotech ETF iShares NASDAQ
Biotechnology Index (IBB) is down 0.6%.
In company news, shares of pharmaceutical concern Elan Corp.
(ELN) are now up 7.9% at $13.60, adding to a 5% gain in Thursday's
after hours, following the company's announcement that it will
formally put itself up for sale. According to a New York Times
report, the sale is a result of the company's fight to fend off a
hostile bid by Royalty Pharma.
Select Financial Sector SPDRs (
) is down 0.78%. Direxion Daily Financial Bull 3X shares (FAS) is
down 2%. Its bearish counterpart, FAZ, is up 1.76%.
In financial news, shares in BCSB Bancorp (BCSB) have spiked 32%
and hit a year high of $22.67 after agreeing to a $79 million stock
merger with F.N.B. Corporation (FNB), boosting their market share
in the Baltimore region. The offer is worth about $23.77 per share.
Each BCSB shareholder will be entitled to receive 2.08 shares of
F.N.B. Corporation common stock for each common share held.
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