Active broad-market exchange-traded funds at mid-day:
SPDR S&P 500 (
): -0.06%, hit new year highs.
iPath S&P 500 VIX Short Term Futures TM (
): -0.4%, hit new year low.
iShares MSCI Emerging Markets Index (
Financial Select Sector SPDR (
PowerShares QQQ Trust, Series 1 (
): -0.6%, near year high.
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, are mixed to weaker. Actively traded PowerShares QQQ (
) is down 0.6% and moving away from near its 52-week high.
U.S. stocks are edging lower as investors continue to cast a
wary eye on the Federal Open Market Committee, which will meet this
week. Investors and traders are waiting for any signal that a third
round of quantitative easing could be implemented. Earlier,
lackluster economic data, mostly out of China and Japan, dampened
investment sentiment. Back in the U.S., July Consumer Credit data
is on tap for a 3 pm, ET release today.
Winners and Losers
Select Financial Sector SPDRs (
) is off 0.1%. Direxion Daily Financial Bull 3X shares (FAS) is
down 0.41%. Its bearish counterpart, FAZ, is up 0.33% having hit a
new year low earlier.
Among financial actives, American International Group, Inc.
(AIG) is down 1% after the U.S. Department of the Treasury launched
an offering of $18 billion of its AIG common stock, par value $2.50
per share. The Treasury will also grant a 30-day option to the
underwriters for the offering to purchase up to an additional $2.7
billion of AIG Common Stock to cover over-allotments, if any. AIG
says it intends to purchase up to $5 billion of AIG Common Stock in
the offering. Following the sale of the stock, the Treasury will
hold a stake of around 23% in AIG. According to SeekingAlpha, with
the Treasury no longer holding a majority stake, AIG will now come
under the regulatory purview of the Fed by dint of its ownership of
a small bank.
Tech ETFs, Technology Select Sector SPDR ETF (XLK), down 0.3%
from near year highs; iShares Dow Jones US Technology ETF (IYW),
down 0.55%; iShares S&P North American Technology ETF (IGM),
down 0.33%; and iShares S&P North American Technology-Software
Index (IGV), turns positive and now up 0.02%.
Semiconductor ETFs, SPDR S&P Semiconductor (XSD) down 0.19%;
and Semiconductor Sector Index Fund (SOXX) down 1%. SPDR S&P
International Technology Sector ETF (IPK) is flat.
In sector news, Amazon.com, (AMZN) is now edging lower, down
0.46%, after hitting a new 52-week high of $260. Reports over the
weekend said that AMZN will be offering users of its new Kindle
Fire tablet the option to go ad free for an extra fee of $15. The
new fees are a departure from its previous pricing policies. AMZN
launched its new tablet on Thursday, with a price range of $159 to
Crude was down 0.5% while natural gas is up 1.13%. United States
Oil Fund (USO) is down 0.31%. United States Natural Gas Fund (UNG)
is up 1.16%.
Gold and silver for December delivery were lower, down 0.4% and
0.06%, respectively. Among rare metal funds, SPDR Gold Trust (GLD)
is down 0.44%; iShares Silver Trust (SLV) is down 0.34%.
Healthcare ETFs are mostly lower but still near year highs:
Health Care SPDR (XLV), down 0.11%; Vanguard Health Care ETF (VHT),
down 0.08%; and iShares Dow Jones US Healthcare (IYH), up 0.01%.
Biotech ETF iShares NASDAQ Biotechnology Index (IBB) is down
In corporate news, Nordion (NDZ) is down 36% at around $6.78,
after reaching a new 52-week low of $5.51 earlier. The company
earlier announced that its claim for specific performance or
monetary damages in an arbitration against Atomic Energy of Canada
Limited was unsuccessful. The company also said that because of
this and uncertainties due to several factors, it has decided to
suspend the payment of its quarterly dividend and cease
repurchasing shares under its current normal course issuer bid.
NDZ's arbitration against Atomic Energy related to the cancelled
construction of the MAPLE facilities, the nuclear reactors and
processing facility being constructed by Atomic Energy, which would
have served as the source of NDZ's long-term medical isotope
Retail ETFs are firmer: SPDR S&P Retail (XRT), up 0.17%,
hittng a new year high of $63.75; PowerShares Dynamic Retail (PMR),
up 0.59%; and Market Vectors Retail ETF (RTH) up 0.4%, with a new
52-week high of $44.96.
Industrial ETFs are mostly lower: Vanguard Industrials (VIS),
down 0.06%; iShares Trust Dow Jones U.S. Industrial Sector Index
Fund (IYJ), down 0.2%; and Select Sector SPDR-Industrial (XLI),
Power Play -
Solar Energy -
ETFs and stocks in the space are continue to gap higher
following a report by the the Solar Energy Industries Association
that stated the U.S. will install at least 2,500 megawatts, this
year, and added about 742 megawatts of solar capacity in the second
quarter, according to Wall Street Journal.
WSJ, however, also pointed out that the growth and expansion of
solar power businesses in the U.S., was fueled by companies that
use foreign-made solar panels, particularly those made in China,
which have begun to drop prices in recent years, making solar power
Among gainers, ADR solar stocks are at the top: ReneSola (SOL),
up 2.92%; Suntech Power Holdings (STP), up 4.33; Trina Solar
Limited (TSL), up 2.74%; JA Solar Holdings (JASO), up 3.14%; and
Yingli Green Energy Holdings (YGE), up 4.79%.
Solar ETFs Claymore/MAC Global Solar Index (TAN) and Market
Vectors Solar Energy (KWT) are also firmer, up 2.44% and 2.76%,