Mid-Day ETF Update: Bullish ETFs Up as Major Indexes Start Logging Gains in Afternoon Trade


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Active-volume exchange-traded funds in today's regular session:

SPDR S&P 500 ( SPY ), +0.3%

PowerShares QQQ ( QQQQ ), +0.1%

iShares MSCI Emerging Markets Index ( EEM ): -0.2%

iShares Russell 2000 Index ( IWM ), +0.6%

Financial Select Sector SPDR ( XLF ), +0.3%

Winners and Losers

Bullish ETFs were higher during mid-session trading as the major equity indexes turned higher. The S&P 500 is up 0.49% while the Dow Jones Industrial Average is up 0.11% and the Nasdaq Composite is up 0.56%.

The PowerShares QQQ ( QQQQ ), which tracks the technology-heavy Nasdaq

Composite, is up 0.1% as investors showed a taste for technology issues, reversing the negative sentiment seen during early-session trading.

Financial issues are trading mostly higher as Jefferies (JEF) said that Q4 revenues are $698 million, better than the Street consensus of $579 million on Thomson Reuters. Earnings per share came in at $0.35 compared with expectations of $0.32 per share. Jefferies has been expanding its advisory and trading units. It beat estimates on record investment banking revenue.

Select Financial Sector SPDRs ( XLF ) is up 0.32%. The Direxion Financial Bull

3X fund (FAS) is up 1.28%; its bearish counterpart, FAZ, is down 1.1%.

Leading, active financial shares are firmer, including: C, +0.53%; BAC,


Investors showed a dislike for emerging markets issues, with the iShares MSCI Emerging Markets Index ( EEM ) falling 0.16%. Industrial ETFs including the iShares Dow Jones US Industrial Sector fund (IYJ) and the Industrials SPDR (XLI) are trading in mixed fashion along with the broader market.

However, small-cap stocks are doing well in mid-day trading, with the iShares Russell 2000 Index ( IWM ) rising 0.74%.

Commodities -

Crude oil for February delivery is trading up 0.43%, or $0.37, at $88.97 a barrel. The United States Oil Fund (USO) is up 0.85% while the United States Natural Gas ETF is up 2.28%.

Gold is also higher, rising 0.56%, or $8, to $1,387 an ounce. SPDR Gold Shares (GLD) is up 0.9% and Market Vectors Gold Miners fund (GDX) is up 0.53%. iShares Silver Trust (SLV) is up fractionally.

ETF Power Play -

Deal news in the aerospace and defense space did little to raise related ETF issues.

Raytheon will buy Applied Signal (APSG). Under the terms of the agreement, Raytheon (RTN) will commence a tender offer to purchase all of the outstanding shares of Applied Signal Technology common stock at a price of $38.00 per share in cash for an aggregate purchase price of approximately $490 million, net of cash acquired. Pending the successful completion of the tender offer, the transaction is expected to close in the first quarter of 2011 subject to customary closing conditions and regulatory approvals. The transaction is not expected to have a material effect on Raytheon's earnings.

iShares Dow Jones US Aerospace & Defense (ITA) is down 0.03 while the PowerShares Aerospace & Defense (PPA) is down 0.05%

Meanwhile, the iPath DJ-UBS Cotton TR Sub-Idx ETN (BAL) logged gains, rising by 7.4% as cotton futures have been on a tear recently.

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

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

This article appears in: Investing , Commodities
Referenced Symbols: EEM , IWM , QQQ , SPY , XLF

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