Mid-Day ETF Update: ETFs Mostly Firmer, Stocks Continue Rally on Lowest Unemployment Rate Since January 2009

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

SPDR S&P 500 ( SPY ): +0.18%

iPath S&P 500 VIX Short Term Futures TM ETN ( VXX ): -3.27%, hit 52-week low

Financial Select Sector SPDR ( XLF ): +0.34%, near 52-week high

iShares MSCI Emerging Markets Index ( EEM ): +0.29%

iShares Russell 2000 Index ( IWM ): +0.23%

Broad Market Indicators

Most broad-market exchange-traded funds, including SPY, IWM, IVV and others, continue to be firmer; likewise with ETFs in most sectors. Actively traded PowerShares QQQ (QQQ) is up now down 0.2%. ETFs related to commodities are lagging however, on lower oil prices.

U.S. stocks continue to rise higher, buoyed by positive sentiment generated at least in part by today's jobs data, despite there being some less than positive reaction to that. This included allegations that the jobs figures are fixed, something Labor Secretary Hilda Solis denied in an interview with CNBC. Earlier, it was reported that the September U.S. unemployment rate dropped 7.8% from 8.1%, the lowest level since January 2009. Nonfarm payrolls also rose 114,000, above forecasts, while nonfarm private payrolls added 104,000. Average hourly wages rose $0.07, or 0.4%, to $23.58, and the average workweek was up 0.1 hour to 34.5. Employment gains for August and July were also revised higher by a combined 86,000.

Winners and Losers

Technology -

Tech ETFs are mixed overall: Technology Select Sector SPDR ETF (XLK), off 0.1%, but still near its year high; iShares Dow Jones US Technology ETF (IYW), down 0.2%; iShares S&P North American Technology ETF (IGM), up 0.2%; and iShares S&P North American Technology-Software Index (IGV), down 0.16%.

Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) is up 1.04% and Semiconductor Sector Index Fund (SOXX) is up 0.6%.

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

In sector news, Zynga (ZNGA) is down 17% after touching fresh new year lows of $2.21. The online social gaming company late Thursday lowered its guidance for FY12 and released a mixed Q3 outlook.

Industrial -

Industrial ETFs are firmer: Vanguard Industrials (VIS), up 0.7% and nearer year highs; iShares Trust Dow Jones U.S. Industrial Sector Index Fund (IYJ), up 0.6%; and Select Sector SPDR-Industrial (XLI), up 0.5%.

Among stocks, Curtiss-Wright (CW) is down 1.5% after it slashed its third quarter and full year financial guidance to reflect the combined impacts of a recent labor strike, additional investments in its AP1000 program, continued delays in the large project oil and gas business, and modest softening in new orders.

Commodities -

Crude was down 2.63%; natural gas was also down 0.47%. United States Oil Fund (USO) is down 2.3%. United States Natural Gas Fund (UNG) is down 1.8%.

Gold and silver were down 0.7% and 1.16% respectively. Among rare metal funds, SPDR Gold Trust (GLD) is down 0.48%; iShares Silver Trust (SLV) is down 1%.

In corporate news, Primero Mining Corp. (PPP) continues to surge, now up more than 30% with a new 52-week high of $7.92, after it announced that the company's Mexican subsidiary has received a positive ruling from the Mexican tax authorities (Servicio de Administracion Tributaria) on its Advance Pricing Agreement (APA) filing made in October 2011. The ruling confirms that the company's Mexican subsidiary appropriately records revenue and taxes from sales under the silver purchase agreement at realized prices rather than spot prices effective from August 6, 2010.

Healthcare -

Healthcare ETFs are well in the green: Health Care SPDR (XLV), up 0.12%, with a new year high of $41.33; Vanguard Health Care ETF (VHT), up 0.05%, with a new year high of $75.54; and iShares Dow Jones US Healthcare (IYH), up 0.17%, with a new year high of $86.98. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) is also firmer, reaching a new year high of 148.54.

In corporate news, Cell Therapeutics (CTIC) is down near 25% and hit a fresh new 52-week low of $1.42 after it priced an underwritten public offering of 60,000 shares of its Series 17 Preferred Stock, offered at a price to the public of $1,000 per share of Series 17 Preferred Stock.

Consumer -

Consumer ETFs are firmer: Consumer Staples Select Sector SPDR (XLP), up 0.32%, with a new year high of $36.59; iShares Dow Jones US Consumer Goods (IYK), up 0.55%, going close to year highs; and Vanguard Consumer Staples ETF (VDC), up 0.4%, with a new year high.

Retail ETFs are higher, touching or near new year highs: SPDR S&P Retail (XRT), up 0.6%; PowerShares Dynamic Retail (PMR), up 0.9% to near year highs; and Market Vectors Retail ETF (RTH), up 0.6%, with a new year high of $46.06.

In sector news, Constellation Brands (STZ) is up 4% after jumping to a new 52-week high of $36.50. The company earlier posted Q2 EPS of $0.67, comfortably beating estimates for $0.54. Revenue for the quarter came in at $699 million, shy of the $710.1 million consensus. The company says it now sees FY2013 EPS of $2.00-2.10, versus prior guidance of $1.93-2.03 and the consensus of $1.99.

Power Play -

Financial -

Select Financial Sector SPDRs ( XLF ) is up 0.19% but off day highs. Ditto with Direxion Daily Financial Bull 3X shares (FAS), up 0.7%. Its bearish counterpart, FAZ, is down 0.6%, above day lows.



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 , SPY , VXX , XLF

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