Active broad market exchange-traded funds in Wednesday's regular
SPDR S&P 500 (
iShares MSCI Japan Index Fund (
Select Financial Sector SPDR (
iShares MSCI Emerging Markets Index (
iPath S&P 500 VIX Short Term Futures (
Broad Market Indicators
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, continued to be weaker. Actively traded PowerShares QQQ
(QQQ) was down 1.21%.
U.S. stocks were firmly in the negative territory following
ADP's report that the economy gained 135,000 jobs in the
private-sector in May, missing estimates. Also weighing on market
sentiment was the Q1 productivity, which was revised up 0.5%, in
line with forecasts, and Q1 labor costs, which was revised down
4.3%, versus the consensus of an increase of 0.6%. Factory orders
for April rose 1%, less than expectations, while ISM services data
for May topped estimates with a reading of 53.7. Petroleum
inventories helped crude to log gains, with
in the commodities sector outperforming the broader market.
Winners and Losers
Technology Select Sector SPDR ETF (XLK) was down 0.63, and other
tech ETFs iShares Dow Jones US Technology ETF (IYW), iShares
S&P North American Technology ETF (IGM) and iShares S&P
North American Technology-Software Index (IGV) are also lower.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD), was
down 1.57% and Semiconductor Sector Index Fund (SOXX) was down
SPDR S&P International Technology Sector ETF (IPK) was down
In sector news, Apple (AAPL) was down 0.84% following the U.S.
International Trade Commission's ruling that certain older models
of Apple's devices have infringed on Samsung's patented
Dow Jones U.S. Energy Fund (IYE) and Energy Select Sector SPDR
(XLE) were weaker, down 0.65% and 0.72%, respectively.
In sector news, Harvest Natural Resources (HNR) was up 26.79%
after reporting that it swung back to profit in Q1, versus the year
ago period. Revenues, however, declined year-over-year.
Consumer Staples Select Sector SPDR (XLP) was down 0.89%; other
consumer ETFs iShares Dow Jones US Consumer Goods (IYK) and
Vanguard Consumer Staples ETF (VDC) were also seeing weakness.
In sector news, Mattress Firm (MFRM) was up 7.41%, with a new
52-week high of $41.20 after it reported Q1 EPS and revenues above
Street estimates. The company also issued FY14 guidance in line
Health Care SPDR (XLV) was down 1.27%; other healthcare ETFs
Vanguard Health Care ETF (VHT) and iShares Dow Jones US Healthcare
(IYH) continued to slip into negative territory. Biotech ETF
iShares NASDAQ Biotechnology Index (IBB) was down 2.47%.
In corporate news, Avanir Pharmaceuticals (AVNR) was up 8.55%
after it said the FDA agreed to an expedited development pathway
for their next-generation compound, AVP-786, requiring only a
limited pre-clinical package as part of the Investigational new
drug application. Upon completion of these preclinical studies the
company intends to proceed directly into human clinical trials.
Crude continued to edge higher but have pared down gains
following weekly petroleum data. U.S. commercial crude oil
inventories decreased by 6.3 million barrels from the previous
week, versus the Briefing.com consensus of a draw of 0.4 million -
0.8 million. Gasoline inventories had a draw of 0.366 million
barrels, versus the forecasts for a build of 0.5 million - 1
million barrels; and distillate inventories had a build of 2.611
million barrels, versus the consensus of a build of 1.3 million
Crude was up 0.34%; natural gas was up 0.4%. United States Oil
Fund (USO) was up 0.33%. United States Natural Gas Fund (UNG) was
Gold was up 0.42% and silver was up 0.52%. Among rare metal
funds, SPDR Gold Trust (GLD) was up 0.33%; iShares Silver Trust
(SLV) was up 0.28%.
Power Play -
ETFs and stocks in the financial sector were showing weakness
following the disappointing private-sectors jobs report that failed
to meet expectations.
Select Financial Sector SPDRs (
) was down 1.52%. Direxion Daily Financial Bull 3X shares (FAS) was
down 4.08%. Its bearish counterpart, FAZ, was up 4.01%.
Among financial stocks, U.S. Bancorp (USB) was down 0.7% after
the Commodity Futures Trading Commission filed suit against the
bank, accusing it of unlawfully holding customer funds from
Peregrine Financial Group, the futures brokerage that collapsed in
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