Mid-Day ETF Update: ETFs, Stocks Continue Rally as Dow, S&P 500 Hit Record High After Upbeat Jobs Data


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Active broad market exchange-traded funds in Friday's regular session:

SPDR Trust Series I ( SPY ) +1.24%, hitting new 52-week high

iShares MSCI Emerging Index Fund ( EEM ) +1.18%

iShares Russell 2000 Index Fund ( IWM ) +2.21%, with a new 52-week high

Financial Select Sector SPDR ( XLF ) +1.31%, with a new 52-week high

iPath S&P 500 VIX Short Term Futures ( VXX ) -2.30%, near its 52-week low

Broad Market Indicators

Broad-market exchange-traded funds, including SPY, IWM, IVV and others, rallied higher. Actively traded PowerShares QQQ (QQQ) was up 1.35%, with a new 52-week high of $72.32.

U.S. stocks strengthened their gains at session's half, with the Dow and S&P 500 hitting record highs. The gains were spurred by the earlier reports that the U.S. economy added 165,000 jobs in April, and unemployment fell 7.5% from 7.6%. This beat the forecasts that 135,000 jobs would be added for April, while unemployment would stay steady at 7.6%, according to a poll by MarketWatch.

The largely upbeat jobs data offset other economic data released earlier, which missed expectations - March factory orders fell 4%,versus the Briefing.com consensus of a 2.5% decline, and the April ISM Services came in at 53.1, below the expected reading of 54.

Winners and Losers

Financial -

Select Financial Sector SPDRs ( XLF ) was up 1.31%, with a new 52-week high of $18.94. Direxion Daily Financial Bull 3X shares (FAS) was up 3.40%, with a new 52-week high of $60.79. Its bearish counterpart, FAZ, was down 3.38%, with a new 52-week low of $36.94.

Among financial stocks, Royal Bank of Scotland (RBS) was down 5.43% after it reported Q1 net attributable profit of GBP 393 million or $611.07 million, compared with a loss of GBP 1.55 billion or $2.41 billion in the comparable quarter a year ago. Revenues were GBP 5.45 billion, or $8.47 billion, versus the Capital IQ consensus estimate of GBP 6.12 billion or $9.5 billion. In the prior-year period, the company reported revenues of GBP 7.13 billion or $11.08 billion.

Energy -

Dow Jones U.S. Energy Fund (IYE) was up 1.95%, nearing its 52-week high; Energy Select Sector SPDR (XLE) was up 1.95%.

In sector news, Duke Energy (DUK) was down 0.44% after reporting Q1 adjusted diluted earnings per share were $1.02, compared to $1.13 for Q1 2012, and below the $1.04 per share analysts expected. It reported total revenues of $5.89 million versus $3.63 billion last year. That's in line with the $5.9 billion analysts expected. For 2013, the company guides for EPS of $4.20 to $4.45, vs. the Street view of $4.34 per share.

Commodities -

Crude was up 1.87%; natural gas was up 0.34%. United States Oil Fund (USO) was up 2.03%. United States Natural Gas Fund (UNG) was down 0.55%.

Gold was down 0.25% and silver was up 0.17%. Among rare metal funds, SPDR Gold Trust (GLD) is up 0.04%; iShares Silver Trust (SLV) is up 0.83%.

Healthcare -

Healthcare ETFs Health Care SPDR (XLV), up 0.71%; Vanguard Health Care ETF (VHT), up 0.61%; and iShares Dow Jones US Healthcare (IYH), up 0.73%. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) jumped to a new 52-week high of $179.04, and was up 1.89%.

In corporate news, Delcath Systems (DCTH) continued to crater at mid-day, down 45.74% in afternoon trade, after the company disclosed the FDA's Oncologic Drugs Advisory Committee (ODAC) voted 16 to 0 with no abstentions that benefits of treatment with Delcath's Melblez Kit (Melblez (melphalan) for Injection for use with the Delcath Hepatic Delivery System) for the treatment of patients with unresectable ocular melanoma metastatic to the liver do not outweigh the risks associated with the procedure. Shares hit a new 52-week low of $0.38.

Consumer -

Consumer ETFs were in positive territory in mid-day action: Consumer Staples Select Sector SPDR (XLP), up 0.56%; iShares Dow Jones US Consumer Goods (IYK), up 1.08%, with a new 52-week high of $88.34; and Vanguard Consumer Staples ETF (VDC), up 0.67%, wit a new 52-week high of $104.86.

In sector news, Furniture Brands (FBN) trimmed earlier losses of some 16% and was down 13.76% at last check after the company reported a Q1 loss of $0.38 per share, which includes one-time items, and may not be comparable to the Capital IQ consensus of $0.02 loss per share. Revenues were $254.7 million, versus the analyst estimate of $290.27 million.

In the same period last yer, the company posted EPS of $0.01 on revenues of $287.2 million. Q1 same-store sales at the 46 Thomasville stores that the company has owned for more than 15 months were down 2.3% compared to the same quarter in 2012, when same-store sales were flat.

Power Play -

Technology -

Tech ETFs were firmer at mid-day, tracking broader market gains: Technology Select Sector SPDR ETF (XLK), up 1.1%; iShares Dow Jones US Technology ETF (IYW), up 1.23%; and iShares S&P North American Technology ETF (IGM), up 1.29%, with a new 52-week high of $74.29; and iShares S&P North American Technology-Software Index (IGV), up 1.40% .

Semiconductor ETFs were also spiking up - SPDR S&P Semiconductor (XSD) was up 2.28% and Semiconductor Sector Index Fund (SOXX) was up 1.42%. Both funds touched new 52-week highs.

SPDR S&P International Technology Sector ETF (IPK) was up 1.63%, with a new 52-week high of $28.76.

In sector news, Vocera Communications (VCRA) was down 35.19%, hitting a new 52-week low of $11.99. The company reported late Thursday a Q1 loss per share of $0.07, ex one-time items, missing the Capital IQ consensus estimate of $0.02 loss per share. Revenues of $22.4 million also missed the consensus of $24.3 million. In FY13, the company expects to report a loss per share of $0.05 to EPS of $0.18, ex non-recurring items, versus the consensus of $0.42. It sees revenues of $100 million - $110 million, below the $122.8 million analysts are looking for.

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

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This article appears in: Investing , Commodities
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