Mid-Day ETF Update: ETFs Extend Rally, Many Hitting or Near New Year Highs After Fed's QE3 News, Economic Data

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Active broad-market exchange-traded funds at mid-day:

SPDR S&P 500 ( SPY ): +0.535%, touched fresh year highs

Financial Select Sector SPDR ( XLF ): +0.9%, climbed to new year highs.

iShares MSCI Emerging Markets Index ( EEM ): +1.1%

iPath S&P 500 VIX Short Term Futures TM ( VXX ): now up +1.7%, earlier hit year low.

iShares MSCI Japan Index ( EWJ ): +1%

Broad Market Indicators

Most broad-market exchange-traded funds, including SPY, IWM, IVV and others, are firmer, with SPY and XLF touching fresh new year highs. But VXX earlier hit a year low, although it is now up. Actively traded PowerShares QQQ (QQQ) is up 1%, but is off the new 52-week high of $70.43.

Like ETFs, most U.S. stocks continue to rally, still gaining on the QE3 announcement from the Federal Reserve yesterday. Standard & Poor's 500 index surged to its highest level since 2007. Stocks were also buoyed by the economic data released today: August retail sales, ex auto, increased 0.8% in line with forecasts, while August core CPI was up 0.1%, just below expectations; the Thomson Reuters/University of Michigan preliminary measure of September consumer sentiment index rose above estimates; and business inventories posted their largest gain in six months in July.

Winners and Losers

Technology -

Tech ETFs are firmer, pushing near year highs: iShares Dow Jones US Technology ETF (IYW), up 1%; iShares S&P North American Technology ETF (IGM), up 1.17%; and iShares S&P North American Technology-Software Index (IGV), up 1%. Technology Select Sector SPDR ETF (XLK) is up 0.5% after seeing a new 52-week high of $31.71.

Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) is up 2.78% and Semiconductor Sector Index Fund (SOXX) is up 1.6%.

SPDR S&P International Technology Sector ETF (IPK) is up 4.12%, nearing its year high.

In sector news, Analogic (ALOG) is up 15% and has hit year highs after it reported late Thursday that Q4 2012 revenue was $151 million, up 12% from the comparable period in 2011. Non-GAAP diluted EPS of $1.32 was up 59%. Both numbers trumped the Capital IQ analyst estimates of $140.6 million in revenue and EPS of $0.82.

Energy -

Dow Jones U.S. Energy Fund (IYE) is up 1.4% after climbing to new year highs; Energy Select Sector SPDR (XLE) is up 1.1%, also after jumping to a new 52-week high.

In sector news, InterOil (IOC) shares are up 1%, having earlier struck a new 52-week high. The company's CFO Collin Visaggio claimed at least two supermajors have made bids for an operating stake in IOC's Gulf LNG project in Papua New Guinea. According to Seeking Alpha, negotiations have also generated interest on whether IOC could be subject to a takeover offer.

Commodities -

Crude was up 0.6% after earlier hitting $100 per barrel - the first time since May; natural gas was down 2.21%. United States Oil Fund (USO) is up 0.9%. United States Natural Gas Fund (UNG) is down 2.1%.

Gold was higher, up 0.23% while silver was down 0.55%. Among rare metal funds, SPDR Gold Trust (GLD) is up 0.3% while iShares Silver Trust (SLV) is down 0.2%

Healthcare -

Healthcare ETFs are mildly lower: Health Care SPDR (XLV), down 0.5% from year highs; Vanguard Health Care ETF (VHT), down 0.3% from near year highs; and iShares Dow Jones US Healthcare (IYH), off 0.44%, having climbed to a new year high of $84.05. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) is up 0.8%, and reached a new 52-week high of $142.38.

Consumer -

Consumer ETFs are edging lower but earlier reached new year highs: Consumer Staples Select Sector SPDR (XLP), down 0.6% from near year highs; iShares Dow Jones US Consumer Goods (IYK), off 0.3% but touched a new year high of $75.72; and Vanguard Consumer Staples ETF (VDC), down 0.5%, but it also saw a new year high earlier in the day.

Retail ETFs are firmer, most climbing to new year highs: SPDR S&P Retail (XRT), up 1%, hit a new year high of $65.46; PowerShares Dynamic Retail (PMR), up 0.4%, near new year highs; and Market Vectors Retail ETF (RTH), up 0.3%, with a new year high of $45.70.

Power Play -

Financial -

Financials are still firmer in mid-day action, following the Federal Reserve's QE3 announcement yesterday and mostly upbeat economic data this morning. Select Financial Sector SPDRs ( XLF ) is up 0.9% after touching a new year high of $16.43. Direxion Daily Financial Bull 3X shares (FAS) is up 2.5%, off a new year high of $119.94. Its bearish counterpart, FAZ, is down 2.5%, after sinking to a new year low of $16.05.



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 , EWJ , SPY , VXX , XLF

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