Active broad-market exchange-traded funds:
SPDR S&P 500 (
iShares MSCI Japan Index (
Financial Select Sector SPDR (
iShares Russell 2000 Index (
PowerShares QQQ Trust, Series 1 (
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, are firmer. Actively traded PowerShares QQQ (
) is up 2%.
U.S. stocks are extending their gains, finding more to cheer
about following the release of upbeat economic data: the National
Association of Home Builders/Wells Fargo index of builder
confidence climbed to 46 in November, while the National
Association of Realtors reported sales of previously owned homes
increased 2.1% in October. Earlier, market sentiment got a boost
from weekend remarks by President Barack Obama, who said in a press
conference in Thailand that he is confident that the U.S.'s fiscal
cliff issue can be resolved.
Winners and Losers
Select Financial Sector SPDRs (
) is up 1.7%. Direxion Daily Financial Bull 3X shares (FAS) is up
4.69%. Its bearish counterpart, FAZ, is down 4.69%.
Among financial stocks, JPMorgan Chase & Co. (JPM) is up
2.9%. The firm said today that it has eliminated more than a third
of its intraday credit exposure related to the unwind of Tri-Party
Repos. The firm also said it remains on track to deliver new
capabilities for its clients during the second half of 2013,
achieving the Target End State in keeping with the commitments the
firm has made to its clients, the markets and the NY Federal
are firmer in mid-day action: Technology Select Sector SPDR ETF
(XLK), up 2.35%; iShares Dow Jones US Technology ETF (IYW), up
2.23%; iShares S&P North American Technology ETF (IGM), up
1.78%; and iShares S&P North American Technology-Software Index
(IGV), up 0.9%.
Semiconductor ETFs, SPDR S&P Semiconductor (XSD), up 2.9%
and Semiconductor Sector Index Fund (SOXX) is up 1.7%.
SPDR S&P International Technology Sector ETF (IPK) is up
In sector news, Reuters and others report that Alibaba Group is
planning to take a stake in Sina's (SINA) Weibo. According to the
reports, sources say the agreement is in the final stages, and
values Sina Weibo at around $3 billion. Alibaba plans to take a 15
to 20% stake in the company. SINA is up 8%.
Dow Jones U.S. Energy Fund (IYE) is up 1.9%; and Energy Select
Sector SPDR (XLE), up 2%.
In sector news, Talisman Energy Inc. (TLM) is up 3.2% after it
earlier confirmed a "significant" accumulation of light oil in the
Kurdamir-2 well in the Kurdistan Region of northern Iraq. Talisman
is operator of the Kurdamir Block, with a 40% working interest.
Joint venture participants include WesternZagros Limited, with a
40% working interest, and the Kurdistan Regional Government, with a
20% carried interest.
Crude was up 2.77%; natural gas was down 0.59%. United States
Oil Fund (USO) is up 2.9%. United States Natural Gas Fund (UNG) is
Gold and silver were firmer, up 1.10% and 2.30% respectively.
Among rare metal funds, SPDR Gold Trust (GLD) is up 1.2%; iShares
Silver Trust (SLV) is up 2.8%.
Consumer ETFs are in positive territory: Consumer Staples Select
Sector SPDR (XLP), up 1.2%; iShares Dow Jones US Consumer Goods
(IYK), up 1.8%; and Vanguard Consumer Staples ETF (VDC), up
Retail ETFs are also higher: SPDR S&P Retail (XRT), up 2%;
PowerShares Dynamic Retail (PMR), up 1.7%; and Market Vectors
Retail ETF (RTH), up 1.5%, with a new year high of $43.85.
In sector news, Tyson Foods (TSN) is up 7.4% after reporting Q4
adjusted EPS of $0.55, vs. the analyst consensus of $0.44 per share
on Capital IQ. Sales were $8.37 bln, vs. expectations of $8.51 bln.
It also said it expects FY13 sales to increase to about $35 bln,
mostly resulting from price increases related to decreases in
domestic availability of protein and rising raw material costs.
Power Play -
Healthcare ETFs are firmer: Health Care SPDR (XLV), up 0.8%;
Vanguard Health Care ETF (VHT), up 0.9%; and iShares Dow Jones US
Healthcare (IYH), up 0.8%. Biotech ETF iShares NASDAQ Biotechnology
Index (IBB), up 1%.
In corporate news, Wright Medical Group, Inc. (WMGI) has entered
into a definitive agreement with BioMimetic Therapeutics, Inc.
(BMTI) to combine their businesses. Under the terms of the
agreement, the transaction has a total potential value for
BioMimetic shareholders of approximately $380 million, or $12.97
per share, based on Wright's closing stock price on Friday,
November 16, 2012. Each share of BioMimetic common stock will be
converted into the right to receive an upfront payment of $1.50 in
cash and 0.2482 shares of Wright common stock. WMGI is down 2.5%,
while BMTI is up 72.5%, touching a new year high of $7.38.