Active broad-market exchange-traded funds at mid-day:
SPDR S&P 500 (
Financial Select Sector SPDR (
): +1.4%, near year highs
iShares Russell 2000 Index (
iShares MSCI Emerging Markets Index (
iPath S&P 500 VIX Short Term Futures TM ETN (
): -1.46%, near year lows
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, are mostly firmer. Actively traded PowerShares QQQ (QQQ) is
U.S. stocks are sharply higher as investors shrug off the report
that factory orders in August fell 5.2%. Though this was the second
drop in the last three months, it was actually slightly better than
the forecast of a 5.9% decline. Excluding transportation, new
orders rose 0.7%. Earlier, the latest weekly initial jobless claims
grew to 367,000 -- but lower than the expected 370,000. Markets
also cheered the European Central Bank decision to leave key
interest rates left unchanged, with ECB president Mario Draghi
saying it is ready to start buying government bonds. Still on tap
is the minutes from the September Federal Open Market Committee
meeting, due out 2 pm ET.
Winners and Losers
Select Financial Sector SPDRs (
) is up 1.42%, near its 52-week high. Direxion Daily Financial Bull
3X shares (FAS) is up 3.3%. Its bearish counterpart, FAZ, is down
Among financial stocks, NorthStar Realty Finance Corp. (NRF) is
up 0.31%, nearer its year high. It has priced an underwritten
public offering of $125 million of its 8.875% Series C Preferred
Stock with a liquidation preference of $25 per share. The company
intends to use the net proceeds of the offering to make investments
relating to its business, to repurchase or pay its liabilities and
for general corporate purposes.
Tech ETFs are mixed: Technology Select Sector SPDR ETF (XLK), up
0.1%, near its year high; iShares Dow Jones US Technology ETF
(IYW), off 0.1%; iShares S&P North American Technology ETF
(IGM), up 0.06%; and iShares S&P North American
Technology-Software Index (IGV), down 1.04%.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) is
down 0.4% and Semiconductor Sector Index Fund (SOXX) is up 0.15%.
SPDR S&P International Technology Sector ETF (IPK) is flat.
In sector news, Informatica (INFA) is down 25%, touching a new
year low of $23.83, after it said it expects Q3 revenue in the
range of $189 to $191 mln, below the analyst consensus of $201 mln
on Capital IQ. Non-GAAP EPS are seen at $0.25 to $0.27, vs.
expectations of $0.34 per share.
Dow Jones U.S. Energy Fund (IYE) is up 0.79%; Energy Select
Sector SPDR (XLE) is up 0.8%.
In sector news, Boardwalk Pipeline Partners (BWP) is down 4.28%
after announcing that it has priced its public offering of 10
million common units at $26.99 per unit.
Crude was up 2.47% while natural gas was up 0.18%. United States
Oil Fund (USO) is up 2.76%. United States Natural Gas Fund (UNG) is
Gold was up 0.83%; silver was up 0.79%. Among rare metal funds,
SPDR Gold Trust (GLD) is up 0.79%; iShares Silver Trust (SLV) is up
Healthcare ETFs are higher, touching new 52-week highs: Health
Care SPDR (XLV), up 0.64%, with a new year high of $41.26; Vanguard
Health Care ETF (VHT), up 0.5%, with a new year high of $75; and
iShares Dow Jones US Healthcare (IYH), up 0.4%, with a new year
high of $86.80; Biotech ETF iShares NASDAQ Biotechnology Index
(IBB) is also firmer, up 0.14% with a new year high.
In corporate news, NuVasive (NUVA) continues to plunge, now down
32.5% after saying late yesterday it expects Q3 revenue to be about
$147 mln, below previous guidance that suggested flat sequential
revenue growth compared to $154.4 mln in Q2. The analyst consensus
on Capital IQ is $153.8 mln.
Power Play -
Consumer ETFs are firmer: Consumer Staples Select Sector SPDR
(XLP), up 0.5%, with a new year high of $36.48; iShares Dow Jones
US Consumer Goods (IYK), up 0.5%; and Vanguard Consumer Staples ETF
(VDC), up 0.39%, with a new year high of $92.99.
Retailers continue to be in focus following their September
comparable store sales reports. Retail ETFs SPDR S&P Retail
(XRT), up 1.1%; PowerShares Dynamic Retail (PMR), up 0.59%; and
Market Vectors Retail ETF (RTH), up 0.7%, with a new year high of