Active broad market exchange-traded funds in Monday's regular
SPDR S&P 500 (
Select Financial Sector SPDR (
iShares MSCI Japan Index Fund (
iShares MSCI Emerging Markets Index (
iPath S&P 500 VIX Short Term Futures (
Broad Market Indicators
Broad market exchange-traded funds, including SPY, IWM, IVV and
lower. Actively traded PowerShares QQQ (QQQ) was up 0.78%.
in Energy and Commodities sectors, however, were firmer.
U.S. stocks were vacillating between positive and negative
territories, with the Financial and Tech sectors leading the
laggards. On the one hand, a slightly better-than-expected reading
for the U.S. PMI Index for May gave some lift to market sentiment,
but this was undercut by the April construction spending and May
ISM Index reports, which missed forecasts. Upbeat sales reports
from automobile makers Ford (F) and General Motors (GM) have
brightened the Consumer Goods sector.
Winners and Losers
Select Financial Sector SPDRs (
) was down 0.96%. Direxion Daily Financial Bull 3X shares (FAS) was
down 2.82%. Its bearish counterpart, FAZ, was up 2.74%.
Among financial stocks, Colonial Properties Trust (CLP) was up
5.56%, trimming earlier gains o some 8%, after it and MAA (MAA)
said they were to merge in an $8.6 billion transaction. Shares in
MAA were down 3.16%.
Technology Select Sector SPDR ETF (XLK) eased 0.35% while other
tech ETFs iShares Dow Jones US Technology ETF (IYW), iShares
S&P North American Technology ETF (IGM) and iShares S&P
North American Technology-Software Index (IGV) were lower.
Semiconductor ETFs SPDR S&P Semiconductor (XSD) and
Index Fund (SOXX) were also in the red but were trading at the
higher end of their 52-week ranges.
SPDR S&P International Technology Sector ETF (IPK) was down
2.06%, sinking to a new 52-week low of $27.60.
In sector news, Microsoft (MSFT) was up 0.5%, nearing its
52-week high, after a report on the Wall Street Journal said the
tech giant has cut back the price of its Windows and Office
software for small PCs and tablets by as much as two-thirds in
order to gain market share. Separately, reports from various media
outlets, including AllThingsD, also said that MSFT's CEO Steve
Ballmer is working on a significant restructuring of the company.
According to the reports, the new configuration could include
larger roles for several execs.
Dow Jones U.S. Energy Fund (IYE) and Energy Select Sector SPDR
higher, bucking broad market weakness, and were up 0.17% and
In sector news, Kodiak Oil & Gas Corp. (KOG) was up 1.37%
after to said it has acquired additional core Bakken and Three
Forks producing properties and undeveloped leasehold in the
Williston Basin of North Dakota, from private oil and gas company
Liberty Resources for $660 million in cash.
Crude was up 1.61%; natural gas was up down 0.68%. United States
Fund (USO) was up 1.90% and United States Natural Gas Fund (UNG)
was up 0.52%.
Gold was up 1.47% and silver was up 2.71%. Among rare metal
funds, SPDR Gold Trust (GLD) was up 2.12%; iShares Silver Trust
(SLV) was up 3.03%.
Health Care SPDR (XLV) was inching up 0.06% while other
healthcare ETFs Vanguard Health Care ETF (VHT) and iShares Dow
Jones US Healthcare (IYH) were weaker. Biotech ETF iShares NASDAQ
Biotechnology Index (IBB) slipped 2.43%.
In corporate news, Clovis Oncology (CLVS) was up 121.73%, with a
52-week high of $86.29, after reporting positive initial findings
from an ongoing Phase I/II monotherapy study of rucaparib, the
company's oral, potent, small molecule poly polymerase inhibitor
being developed for the treatment of ovarian cancer.
Power Play -
Consumer ETFs were logging gains following upbeat monthly sales
reports from major automobile manufacturers: Consumer Staples
Select Sector SPDR (XLP) was up 0.45% while iShares Dow Jones US
Consumer Goods (IYK), and Vanguard Consumer Staples ETF (VDC) were
In sector news, Ford Motor Company (F) was down 0.51% but
touched a new 52-week high of 16.08 after it reported that May U.S.
sales increased 14% compared with a year ago, its best May sales
since 2006. Retail sales were up 17%.
General Motors (GM) also slipped 0.12% but was still edging
closer to its 52-week high after it reported that for May, sales
increased 3% year over year to 252,894 vehicles. Retail sales rose