Mid-Day ETF Update: ETFs Edge Lower, Stocks Mixed; Street Looks Ahead to Econ Data, Yellen Confirmation


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

SPDR S&P 500 ETF Trust ( SPY ): -0.06%, with new 52-week highs

iShares MSCI Emerging Markets Index ( EEM ): -0.66%

PowerShares QQQ Trust, Series 1 ( QQQ ): -0.16%

iShares Russell 2000 Index ( IWM ): +0.13%, with new 52-week highs

iShares FTSE/Xinhua China 25 Index ( FXI ): -0.95%

Broad Market Indicators

Many broad-market exchange-traded funds, including SPY, IWM, IVV and others were edging lower, but with some reaching or are near 52-week highs. Actively traded PowerShares QQQ ( QQQ ) was down 0.02%.

U.S. stocks were mostly in positive territory and were near session and/or record highs, following gains from Friday's session, which were in turn prompted by the surprise rate cut by the European Central Bank and a stronger-than-expected October non-farm payrolls report. Investors are looking ahead to economic data to be released this week, including October import and export prices, and the October treasury budget - all due on Wednesday, 8:30 am; the Senate confirmation hearing of Janet Yellen as the new head of the Federal Reserve on Thursday will also be in focus.

Power Play: Healthcare

Health Care SPDR (XLV) was up 0.21%, and reached a new 52-week high. Likewise, Vanguard Health Care ETF (VHT) and iShares Dow Jones US Healthcare (IYH) were in the green, both with fresh new 52-week highs. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) was up 0.32%.

Among stocks, rare disease drug company ViroPharma Inc. (VPHM) climbed 25.5%, but is off its best level of $49.47, its highest level in near 12 years. The surge follows an early Monday announcement that VPHM has been sold to U.K.-based Shire for $50 per share, or $4.2 billion, in cash. ADRs of Shire (SHPG) were up 0.33% after hitting record highs earlier.

Winners and Losers

Financial -

Select Financial Sector SPDRs (XLF) was up 0.12%, near its 52-week high. Direxion Daily Financial Bull 3X shares (FAS) was up 0.82%, with a new 52-week high. Its bearish counterpart, FAZ, was down 0.78% after sinking to a new 52-week low.

Among financial stocks, brokerage firm Charles Schwab (SCHW) is up 0.25% after hitting a record high following the release of its Independent Advisor Outlook Study, which suggests 70% of Registered Independent Advisors (RIAs) are optimistic about growth opportunities over the next five years. The company's Schwab Advisor Services unit also announced new technology initiatives including an app called Schwab OpenView Mobile and plans for Project PM2, an upcoming portfolio management approach.


Technology Select Sector SPDR ETF (XLK) was lower, but hit a new 52-week high; iShares Dow Jones US Technology ETF (IYW), and iShares S&P North American Technology ETF (IGM) inched up, with new 52-week highs; iShares S&P North American Technology-Software Index (IGV) was down 0.28%.

Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) and Semiconductor Sector Index Fund (SOXX) were in the red. SPDR S&P International Technology Sector ETF (IPK) was flat.

Among stocks, Gogo Inc. (GOGO) was up more than 26% to a record high of $23.94 after the company said revenue jumped 48% to $85.4 million in Q3; adjusted loss widened $0.22 a share, compared with $0.16 loss per share, a year ago. It raised the top end of its full-year guidance to $325 million from $315 million.

Energy -

Dow Jones U.S. Energy Fund (IYE) and Energy Select Sector SPDR (XLE) were firmer - with both reaching new 52-week highs earlier.

In sector news, Transocean (RIG) was up 3.97% after disclosing it entered into an agreement with Carl Icahn and certain investment funds managed by Icahn. Under the terms of the agreement, Transocean's Board agreed to propose and support at its annual meeting: a $3 per share dividend; the re-election of Samuel Merksamer and election of Vincent Intrieri, two Icahn employees; a reduction in board seats to 11 from 14; and Icahn agreed to vote in favor of the board's slate of director nominees.

Commodities -

Crude was up 0.41%; United States Oil Fund (USO) was up 0.71%. Meanwhile, natural gas was up 0.22%, and United States Natural Gas Fund (UNG) was down 0.17%.

Gold was down 0.25%, and SPDR Gold Trust (GLD) was down 0.39%. Silver was up 0.04%; iShares Silver Trust (SLV) was down 0.63%.

Consumer -

Consumer Staples Select Sector SPDR (XLP) was down 0.28%, after reaching a new 52-week high; Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK) edged lower, although both touched new 52-week highs earlier.

Among stocks, tire company Cooper Tire & Rubber Co. (CTB) said it signed a letter of intent to work with private start-up Elio Motors Inc., which is pioneering a three-wheeled, two-passenger vehicle. Once the agreement is finalized, Cooper intends to supply Elio tires as original equipment. Financial details weren't released. Shares were up 3.55%.

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

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This article appears in: Investing , Commodities
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