Mid-Day ETF Update: ETFs Mixed, Stocks Edge Lower On Poor U.S. Manufacturing Data, Slow Pace of Fiscal Talks

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

SPDR S&P 500 ( SPY ): -0.1%

Financial Select Sector SPDR ( XLF ): last early gains, now flat

iShares MSCI Emerging Markets Index ( EEM ): +0.24%

PowerShares QQQ Trust, Series 1 ( QQQ ): +0.12%

iShares Russell 2000 Index ( IWM ): -0.21%

Broad Market Indicators

Broad-market exchange-traded funds, including SPY, IWM, IVV and others, are mixed. Actively traded PowerShares QQQ ( QQQ ) is up 0.12%.

U.S. stocks have slipped lower following a report that the ISM Manufacturing Index fell to 49.5% in November, its lowest level since July 2009, with the aftermath of Hurricane Sandy still impacting the economies of the northeast. The contraction undercut a more upbeat report on construction spending, which rose 1.4% in October, above expectations. Earlier, upbeat data out of China and Europe lifted stocks, provided some respite from concerns over the ongoing but slowed pace fiscal negotiations.

Winners and Losers

Financial -

Select Financial Sector SPDRs ( XLF ) has lost earlier gains and is now flat to slightly higher. Direxion Daily Financial Bull 3X shares (FAS) was up 0.93%, but is now up 0.15%. But its bearish counterpart, FAZ, is now up 0.06%, having been down 0.64%.

Among financial stocks, Equifax Inc. (EFX) is up more than 4% and reached a new year high after the company announced that its subsidiary, Equifax Information Services LLC, will purchase $1.0 billion of certain credit services business assets and operations of CSC Credit Services Inc., a subsidiary of Computer Sciences Corp. (CSC). Per the agreement, EFX expects to realize tax benefits from a step-up in the tax basis of the acquired assets having an estimated net present value of approximately $200 million over a 15-year amortization period. The deal is expected to close by year-end. CSC shares are up 3.4% and also touched a new year high of $40.34.

Technology -

Tech ETFs are losing ground: Technology Select Sector SPDR ETF (XLK), now up just 0.1%; iShares Dow Jones US Technology ETF (IYW), now up just 0.2%; iShares S&P North American Technology ETF (IGM), has turned negative; and iShares S&P North American Technology-Software Index (IGV), now down 0.7%.

Semiconductor ETFs, SPDR S&P Semiconductor (XSD), has turned slightly negative; and Semiconductor Sector Index Fund (SOXX) has lost earlier gains and it is now down 0.16%.

SPDR S&P International Technology Sector ETF (IPK) is up 1%.

In sector news, Sequans Communications S.A. (SQNS) ADRs are up more than 30%, but off the day's high of $2.17, after the company announced that its chips are powering a significant portion of the LTE devices to be used in the next phase of China Mobile's (CHL) large-scale trial of TD-LTE technology in China. CHL shares are down 1.8%.

Energy -

Dow Jones U.S. Energy Fund (IYE) is down 0.4%; Energy Select Sector SPDR (XLE) is down 0.38%.

In sector news, Longwei Petroleum Investment (LPH) is now up 12.5% and touched fresh new year high of $2.79, after announcing that about 10.65 million warrants outstanding associated with its Oct. 29, 2009 financing have expired.

Commodities -

Crude was up 0.34%; likewise, natural gas was up 1.68%. United States Oil Fund (USO) is up 0.25%. United States Natural Gas Fund (UNG) is up 0.5%.

Gold was up 0.25%; silver was up 1.52%. Among rare metal funds, SPDR Gold Trust (GLD) is up 0.25%; iShares Silver Trust (SLV) is up 0.8%.

Healthcare -

Healthcare ETFs are lower: Health Care SPDR (XLV), down 0.1%; Vanguard Health Care ETF (VHT), down 0.2%; and iShares Dow Jones US Healthcare (IYH), down 0.2%. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) is down 0.2%.

In corporate news, Sabra Health Care REIT Inc. (SBRA) is up 0.9% and nearer the stock's 52-week high after announcing the acquisition of a portfolio of three skilled nursing facilities and one assisted living facility in Texas, as well as a skilled nursing facility in Minnesota. The transactions were funded with available cash and proceeds from the company's secured revolving credit facility.

Power Play -

Consumer -

Consumer ETFs are mixed: Consumer Staples Select Sector SPDR (XLP), down 0.1%; iShares Dow Jones US Consumer Goods (IYK), down 0.16% after earlier touching a new year high of $76.71; and Vanguard Consumer Staples ETF (VDC), has turned slightly negative.

Retail ETFs have turned lower: SPDR S&P Retail (XRT), down 0.33%; PowerShares Dynamic Retail (PMR), down 0.3% from near year highs; and Market Vectors Retail ETF (RTH), down 0.18% having earlier hit a new year high of $45.59.

In sector news, Ford (F) shares are up 0.5% following the company's report that November U.S. sales were up 6.5% to 177,673 vehicles, driven higher primarily by an increase in small car sales. F's November small car sales posted their best monthly performance since 2000.



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 , IWM , QQQ , SPY , XLF

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