Active broad-market exchange-traded funds at mid-day:
SPDR S&P 500 (
PowerShares QQQ Trust, Series 1 (
iShares MSCI Emerging Markets Index (
Financial Select Sector SPDR (
iShares Russell 2000 Index (
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, are mixed. Actively traded PowerShares QQQ (
) is down 0.03%.
U.S. stocks are shifting to negative territory as market focus
now turns to the looming earnings season amid concerns that
corporate earnings will be down, if not worse-than-expected. The
Eurozone debt crisis is still weighing on matters too as investors
mull reports that Spain will request a bailout ahead of a meeting
of EU's finance ministers next week. Although automakers generally
reported upbeat sales figures for September, this did little to
lift the market sentiment.
Winners and Losers
Select Financial Sector SPDRs (
) is up 0.22%. Direxion Daily Financial Bull 3X shares (FAS) is up
0.34%. Its bearish counterpart, FAZ, is down 0.3%.
Among financial actives, JPMorgan Chase (JPM) is down 0.1%
following a report that the New York attorney general's office
slapped the bank with a $2 billion civil lawsuit this morning,
alleging that investment bank Bear Stearns - before JPMorgan bought
the firm in 2008 - committed fraud in the residential
mortgage-backed securities operations. JPMorgan said it intends to
contest the allegations.
Tech ETFs are mixed: Technology Select Sector SPDR ETF (XLK),
down 0.1% and $1 off year highs; iShares Dow Jones US Technology
ETF (IYW), down 0.11%; iShares S&P North American Technology
ETF (IGM), now down 0.01%; and iShares S&P North American
Technology-Software Index (IGV), up 0.32%.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) is
down 0.6% while Semiconductor Sector Index Fund (SOXX) is up
SPDR S&P International Technology Sector ETF (IPK) is now up
In sector news, Elbit Systems Ltd. (ESLT) is up 5.25% after it
said it was awarded a contract from the Australian Defence Force
(ADF) for the supply of battle management systems for the Royal
Australian Navy's landing craft. The contract is in an amount that
is not material to Elbit Systems.
Dow Jones U.S. Energy Fund (IYE) is down 0.2% while and Energy
Select Sector SPDR (XLE) is down 0.07%.
In sector news, Genesis Energy (GEL) is down 3.5% after it
announced the commencement of an underwritten secondary public
offering of 6,000,000 common units representing limited partner
interests by Quintana Capital Group II, L.P. and certain of its
affiliates and certain other selling unitholders. Genesis will not
receive any of the proceeds from the common units sold by the
selling unitholders and the number of outstanding common units will
Crude was up 0.18% while natural gas was up 0.06%. United States
Oil Fund (USO) is up 0.1%. United States Natural Gas Fund (UNG) is
Gold and silver were down 0.16% and 0.42% respectively. Among
rare metal funds, SPDR Gold Trust (GLD) is down 0.2%; iShares
Silver Trust (SLV) is down 0.3%.
Healthcare ETFs are firmer, testing their year highs: Health
Care SPDR (XLV), up 0.3%; Vanguard Health Care ETF (VHT), up 0.3%;
and iShares Dow Jones US Healthcare (IYH), up 0.4%, touching a new
year high of $85.68. Biotech ETF iShares NASDAQ Biotechnology Index
(IBB) is up 0.8%, also pushing near its year high.
In corporate news, Eli Lilly & Co. (LLY) is up 0.8% after
hitting a new 52-week high earlier today, on news that an potential
treatment for patients with type 2 diabetes showed positive results
in recent studies. According to the company, there was a 48%
reduction in nighttime hypoglycaemia in a phase 2 study, and it
also was shown to reduce the anxiety and fear associated with the
incidents of low-blood sugar. Lilly and its Germany-based partner
Boehringer Mannheim GmbH plan to present more details at the annual
meeting of the European Association for the Study of Diabetes in
Berlin this week. Lilly and Boehringer Ingelheim formed an alliance
in January of 2011 to jointly develop and commercialize several
Power Play -
Consumer ETFs are slipping into negative terrritory in mid-day
action: Consumer Staples Select Sector SPDR (XLP), down 0.22% from
near year highs; iShares Dow Jones US Consumer Goods (IYK), now up
0.01%; and Vanguard Consumer Staples ETF (VDC), also off 0.01%,
having earlier reached a new year high of $92.70.
Retail ETFs are weaker: SPDR S&P Retail (XRT), down 0.7%;
PowerShares Dynamic Retail (PMR), down 0.6%; and Market Vectors
Retail ETF (RTH), down 0.40% having touched a new year high of
Auto makers reported sales figures for the month: Toyota (TM),
down 0.2%, reported that U.S. auto sales climbed 42% in September,
topping expectations from car-shopping website Edmunds.com; General
Motors (GM), up 3.1%, saw a 1.5% increase in September sales; Ford
Motor (F), down 1.41%, reported that U.S. new-vehicle sales edged
0.1% lower. Chrysler Group LLC reported its U.S. auto sales rose
12% for the month.
On the whole, sales rose for most automakers in September, with
Toyota and Volkswagen leading the pack with more than 30% increase
in sales from a year earlier.
Global X Auto ETF (VROM) is up 0.16%.
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