Mid-Day ETF Update: ETFs Mixed, Stocks Mostly Lower As Jobs Data Triggers Health of Nation Debate Ahead of Election

By MidnightTrader.com Staff,

Shutterstock photo

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

SPDR S&P 500 ( SPY ): -0.2%

Financial Select Sector SPDR ( XLF ): +0.1%, nearer to year highs

iShares MSCI Emerging Markets Index ( EEM ): -0.22%

PowerShares QQQ Trust, Series 1 ( QQQ ): -0.2%

iPath S&P 500 VIX Short Term Futures ( VXX ): +0.2%

Broad Market Indicators

Broad-market exchange-traded funds, including SPY, IWM, IVV and others, are mixed. Actively traded PowerShares QQQ ( QQQ ) is down 0.2%.

U.S. stocks have turned lower as positive sentiment on the upbeat employment data released in the pre-bell session fades. Earlier, it was reported that the U.S. economy added 171,000 jobs for October, more than economists had projected; but the unemployment rate for the month rose 7.9%, in line with forecasts and slightly up from the previous rate of 7.8% in September. With presidential and Congressional elections near at hand, the employment data and its implications about the health of the economy have become political fodder, triggering jitters and making investors more wary.

Winners and Losers

Financial -

Select Financial Sector SPDRs ( XLF ) has turned negative and is now down 0.1% from near year highs. Direxion Daily Financial Bull 3X shares (FAS) is up 0.1%. Its bearish counterpart, FAZ, is flat.

Among financial stocks, Prospect Capital Corporation (PSEC) are down 8.56% after the company priced its previously announced underwritten public offering of 35,000,000 shares of its common stock. The offering is expected to close on or about November 7, 2012, subject to customary closing conditions.

Technology -

Tech ETFs are gapping lower: Technology Select Sector SPDR ETF (XLK), off 0.3%; iShares Dow Jones US Technology ETF (IYW), down 0.5%; iShares S&P North American Technology ETF (IGM), down 0.2% and iShares S&P North American Technology-Software Index (IGV), flat.

Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) is down 1.84% and Semiconductor Sector Index Fund (SOXX) is down 0.8%.

SPDR S&P International Technology Sector ETF (IPK) is flat.

In sector news, Rovi (ROVI) is up 10% after it reported in Thursday's after hours session Q3 adjusted EPS of $0.50, excluding special items, beating the Capital IQ consensus estimate of $0.38. Revenues of $169.6 mln also exceeded the consensus of $161.12 mln. The company expects FY12 EPS of $1.80 - $1.90 on revenues of $660 mln - $670 mln. Analysts are looking for EPS of $1.74 on revenues of $661.62 mln.

Energy -

Dow Jones U.S. Energy Fund (IYE) is down 1% and Energy Select Sector SPDR (XLE) is down 1%.

In sector news, Chevron (CVX) is down 2.5% following the company's Q3 earnings report. CVX posted Q3 earnings of $2.69 per share, versus the Capital IQ consensus of $2.89. Revenues were $55.66 bln, versus the analyst estimate of $57.04 bln. In the prior-year period, EPS was $3.92 while revenues were $61 bln.

Commodities -

Crude was down 2.06%; likewise, natural gas was down 2.04%. United States Oil Fund (USO) is down 1.6%. United States Natural Gas Fund (UNG) is down 3.3%.

Gold was down 1.92%; silver was down 3.23c%. Among rare metal funds, SPDR Gold Trust (GLD) is down 2.2%; iShares Silver Trust (SLV) is down 4.1%.

Healthcare -

Healthcare ETFs are higher: Health Care SPDR (XLV), up 0.10%; Vanguard Health Care ETF (VHT), up 0.1%; and iShares Dow Jones US Healthcare (IYH), up 0.04%. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) is down 1.6%.

Power Play -

Consumer -

Consumer ETFs are mostly higher: Consumer Staples Select Sector SPDR (XLP), up 0.1%; iShares Dow Jones US Consumer Goods (IYK), now up 0.2%; and Vanguard Consumer Staples ETF (VDC), up 0.1%.

Retail ETFs are mixed: SPDR S&P Retail (XRT), down 0.4%; PowerShares Dynamic Retail (PMR), down 0.04%; and Market Vectors Retail ETF (RTH), up 0.3%, with a new year high of $45.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: EEM , QQQ , SPY , VXX , XLF

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