Active broad-market exchange-traded funds in Wednesday's regular
SPDR S&P 500 (
iShares MSCI Emerging Markets Index (
Select Financial Sector SPDRs (
iShares MSCI Japan Index (
iPath S&P 500 VIX Short Term Futures (
Broad Market Indicators
Most broad-market exchange-traded funds, including SPY, IWM, IVV
and others, were choppy, having traded on both sides of unchanged
so far on Wednesday. Likewise, PowerShares QQQ (QQQ) was down
Most U.S. stocks had turned lower, but edged up again in the
session's half, as investors continued to await the Federal
Reserve's decision at 2 PM ET on whether to reduce its bond-buying
program. Fed Chairman Ben Bernanke will also hold a news conference
about the policy decision at 2:30 pm ET. Early upbeat market
sentiment was fueled by strong housing data reported earlier -
November housing starts rose 22.7% to a seasonally adjusted annual
rate of 1.09 million, the highest rate since February 2008.
Power Play: Consumer
Consumer Staples Select Sector SPDR (XLP) was up 0.29%; iShares
Dow Jones US Consumer Goods (IYK) and Vanguard Consumer Staples ETF
(VDC) were mixed.
Among stocks, Ford (F) shares are down nearly 7% after the
company said it expects full-year 2013 automotive revenue to grow
about 10%, with market share increases in all regions other than
Europe, where Ford expects higher retail share of the retail
passenger car industry, as well as improved share of the commercial
vehicle market. In Asia Pacific Africa and China, the company
expects record market shares. Ford now projects that total company
full-year pre-tax profit, excluding special items, to be about $8.5
billion, better than 2012 and in line with its most recent outlook.
It said it expects 2013 to be one of the best full-year results in
its history, with strong revenue growth, market share in all
regions improved or equal to last year, total company pre-tax
profit of about $8.5 billion, higher Automotive operating-related
cash flow than a year ago and a stronger balance sheet.
Winners and Losers
Select Financial Sector SPDRs (
) was up 0.05%, near its 52-week high. Direxion Daily Financial
Bull 3X shares (FAS) was down 0.16%. Its bearish counterpart, FAZ,
was up 0.21%.
Among stocks, Realty Income Corp. (O) was down 0.44% after the
real-estate investment trust late Tuesday boosted its monthly
dividend to $0.1821667 per share, up 0.2% from the previous
dividend. The latest dividend is payable Jan. 15 to shareholders of
record Jan. 2. The previous monthly dividend had been $0.1818542
per share. The company said this marks its 74th dividend raise
since O went public in 1994.
Technology Select Sector SPDR ETF (XLK) was down 0.49%. Other
tech funds 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 mixed.
SPDR S&P Semiconductor (XSD) and Semiconductor Sector Index
Fund (SOXX)were weaker, down 0.80% and 0.57%, respectively - but
near their 52-week highs. SPDR S&P International Technology
Sector ETF (IPK) was flat.
In sector news, Agilent Technologies (A) was up 1.31% after the
bioanalytical and electronic-measurement company said it signed a
memorandum of understanding with Nanyang Technological University
to collaborate with the university on the development of new
solutions for the biological treatment of wastewater. Under the
collaboration, Nanyang Technological's Nanyang Environment and
Water Research Institute will use Agilent's bioanalytical
instruments to study the impact of microorganisms, or microbes, in
Dow Jones U.S. Energy Fund (IYE) was up 0.25% and Energy Select
Sector SPDR (XLE) was up 0.22%.
In sector news, Kodiak Oil & Gas Corp. (KOG) was up 3.13%
after announcing that its Board of Directors has approved a $940
million 2014 capital expenditure (CAPEX) budget allocated solely to
Williston Basin oil and gas activities. The 2014 capital program is
expected to drive an approximate 45% increase in year over year
Crude was up 0.11% and natural gas was down 0.3%. United States
Oil Fund (USO) was up 0.3%; United States Natural Gas Fund (UNG)
was down 0.05%.
Gold was down 0.02% and SPDR Gold Trust (GLD) was up 0.07%.
Silver was up 0.58% while iShares Silver Trust (SLV) was up
Health Care SPDR (XLV) and other healthcare funds Vanguard
Health Care ETF (VHT) and iShares Dow Jones US Healthcare (IYH)
have turned higher. iShares NASDAQ Biotechnology Index (IBB) was
also firmer, up 0.97%.
Among stocks, Depomed Inc. (DEPO) was up 10.42% after the
pharmaceutical company said it has acquired the U.S. rights to
non-steroidal anti-inflammatory drug CAMBIA from Nautilus
Neurosciences (NLS) for $48.7 million. In addition, DEPO may pay
NLS up to an additional $5 million based on the achievement of
certain annual net sales milestones. DEPO expects the acquisition
of CAMBIA to be immediately accretive and updated its year-end cash
guidance to $272 million.
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