Active broad-market exchange-traded funds at mid-day:
SPDR S&P 500 (
iShares Russell 2000 Index (
Financial Select Sector SPDR (
iPath S&P 500 VIX Short Term Futures TM (
): -1.1%, near 52-week low
PowerShares QQQ Trust, Series 1 (
Broad Market Indicators
Most broad-market exchange-traded funds, including SPY, IWM, IVV
and others, continue to be firmer. Actively traded PowerShares QQQ
) is up 0.07%, but off day highs.
U.S. stocks are gaining after better-than-expected ISM data. The
manufacturing gauge grew to 51.5 last month from 49.6 in August,
the highest reading since May. Also lending support to the markets,
Fed Chief Ben Bernake addressed some of the concerns related to
QE3, saying that the basic monetary policy strategy had not changed
and that the government still aims to keep inflation under control.
Meanwhile, U.S. August construction sending fell 0.6%, below the
forecasts of a 0.5% growth.
Winners and Losers
Select Financial Sector SPDRs (
) is up 0.7%. Direxion Daily Financial Bull 3X shares (FAS) is up
1.6%. Its bearish counterpart, FAZ, is down 1.3%.
Among financial actives, MGIC Investment Corp. (MTG) is up 16%
after Freddie Mac late Friday cut the mortgage insurer's capital
requirements by half to $100 million. The government
housing-finance body also approved MTG's underwriting unit to again
sell coverage in 16 jurisdictions excluding its home state of
Wisconsin, pending resolution of a dispute over covered mortgages.
The company has until Oct. 31 to resolve the dispute with the
agency to retain its authority to issue mortgage insurance.
Tech ETFs Technology Select Sector SPDR ETF (XLK), down 0.1%
from near year highs; iShares Dow Jones US Technology ETF (IYW),
down 0.1%; and iShares S&P North American Technology ETF (IGM),
up 0.45%. iShares S&P North American Technology-Software Index
(IGV) is down 1%.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) is
down 0.7% and Semiconductor Sector Index Fund (SOXX), is now down
SPDR S&P International Technology Sector ETF (IPK) is up
In sector news, Versant Corp (VSNT) is up 15% after the database
management software company agreed to be acquired by UNICOM Systems
(CHU) for $11.50 a share, or about $32 million overall. The deal is
expected to close during VSNT's fiscal Q1 ending Jan. 31, 2013,
with VSNT able to solicit alternative buyout proposals from other
firms through Oct. 29. CHU executives said they were withdrawing
their financial guidance for the company's FY12 ending Oct. 31
because of the deal and also said the company would be suspending
its stock repurchase program. CHU is up 1.04%.
Among Energy ETFs, Dow Jones U.S. Energy Fund (IYE) is up 0.7%
and the Energy Select Sector SPDR (XLE) is up 0.9%.
Crude was up 0.2% while natural gas was up 3.49%. United States
Oil Fund (USO) is up 0.41%. United States Natural Gas Fund (UNG) is
Gold and silver for December delivery turned higher, up 0.25%
and 0.69% respectively. Among rare metal funds, SPDR Gold Trust
(GLD) is up 0.36%; iShares Silver Trust (SLV) is up 1.1%.
Healthcare ETFs are higher, mostly nearing their year high
levels: Health Care SPDR (XLV), up 0.6%; Vanguard Health Care ETF
(VHT), up 0.5%; and iShares Dow Jones US Healthcare (IYH), up 0.5%.
Biotech ETF iShares NASDAQ Biotechnology Index (IBB) is up
In corporate news, Fonar Corp. (FONR) is up 34% but off day
highs after reporting a $0.91 a share FY12 profit, up from $0.55 a
share during the previous fiscal year. Revenue for the maker of
"stand-up" magnetic resonance imaging devices rose 19% to $39.4
Power Play -
Consumer ETFs are higher in mid-day action: Consumer Staples
Select Sector SPDR (XLP), up 0.5% and near year highs; iShares Dow
Jones US Consumer Goods (IYK), up 0.5%; and Vanguard Consumer
Staples ETF (VDC), up 0.6%, also near 12 month highs.
With retail ETFs: SPDR S&P Retail (XRT), is now down 0.22%;
PowerShares Dynamic Retail (PMR), up 0.8%; and Market Vectors
Retail ETF (RTH), up 0.3%, touching a new year high of $45.28.
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