Active broad-market exchange-traded funds at mid-day:
SPDR S&P 500 (
): +0.94%, with a new 52-week high of $154.59
Financial Select Sector SPDR (
): +1.1%, with a new 52-week high of $18.05.
iShares MSCI Emerging Markets Index (
iPath S&P 500 VIX Short Term Futures TM (
iShares Russell 2000 Index (
): +10.2%, near its new 52-week high
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, are firmer. Actively traded PowerShares QQQ (QQQ) is up
U.S. stocks continued to rally, basking in the Dow Jones
Industrial Average's new all time high. The Dow pushed past the
previous record of 14,164.53 it hit in October 2007. Overseas
markets were also higher, lending support, as Chinese stocks
recovered from sharp losses in Monday's previous session and Europe
stocks firmed up on hopes of a possible rate cut by the European
Central Bank, which will hold a meeting this Thursday.
Back home, investors cheered the report that the ISM
services-company index rose 56% in February, compared with
January's reading of 55.2% and versus the Briefing.com consensus of
Winners and Losers
Select Financial Sector SPDRs (
) jumped to a new 52-week high of $18.05, edging up 1.1%%. Direxion
Daily Financial Bull 3X shares (FAS) was up 2.87%, also reaching a
new 52-week high of $158.18. Its bearish counterpart, FAZ, was down
2.96%, with a new 52-week low of $11.04.
Among financial stocks, Newcastle Investment (NCT) was up around
0.90% and touched a new 52-week high of $11.39 after it said it has
signed a definitive agreement to acquire up to 50% of a $4.2
billion unpaid principal balance portfolio of consumer loans from
HSBC Finance Corporation (HBC). NCT will co-invest alongside
Springleaf Finance, Inc., a national consumer finance company, who
will also be responsible for servicing the loans. HBC shares inched
higher, up 0.17%.
were firmer in mid-day action, tracking the broader market:
Technology Select Sector SPDR ETF (XLK), up 1.46%; iShares Dow
Jones US Technology ETF (IYW), up 1.75%; iShares S&P North
American Technology ETF (IGM), up 1.43%, with a new 52-week high of
$72.45; and iShares S&P North American Technology-Software
Index (IGV), up 1.09%, also with a new 52-week high of $69.49.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) was
up 1.80% and Semiconductor Sector Index Fund (SOXX) was up 2.01%
SPDR S&P International Technology Sector ETF (IPK) was up
1.6%, nearing its 52-week high.
In sector news, Himax Technologies (HIMX) has soared 36.6% to a
new 52-week high of $4.79 amid expectations it will become the
primary provider for the micro-displays that will be used in the
Google Glass project, Seeking Alpha reported.
Google has moved the timeline for Google Glass, which will allow
users to view computer-generated data on their glasses, from 2014
to later this year, thereby also pushing up the timeline for
potential suppliers, it said.
Dow Jones U.S. Energy Fund (IYE) was up 0.84%; Energy Select
Sector SPDR (XLE) was up 0.73%.
In sector news, Renewable Energy Reports (REGI) continued to
tumble lower at mid-day, down more than 16.5% after the biodiesel
company reported late Monday Q4 revenues of $232 million, a decline
of 13% compared to revenues of $267 million for the same period in
2011, and more than the $161 million analysts had expected. Q4
adjusted EBITDA was $13.6 million, a decrease of 54% compared to
$29.5 million for the same period in 2011.
Crude was up 0.14%; natural gas was up 0.78%. United States Oil
Fund (USO) continued to edge higher, up 0.09%; likewise, United
States Natural Gas Fund (UNG) was up 0.41%.
Gold was up around 0.11% and silver was up 0.52%. Among rare
metal funds, SPDR Gold Trust (GLD) inched higher, up 0.03%; iShares
Silver Trust (SLV) was also up 0.33%.
Healthcare ETFs are jumping higher, reaching new 52-week highs:
Health Care SPDR (XLV), up 0.79%, with a new 52-week high of
$44.48; Vanguard Health Care ETF (VHT), up 0.83%, with a new
52-week high of $79.91; and iShares Dow Jones US Healthcare (IYH),
up 0.80%, with a new 52-week high of $93.01. Biotech ETF iShares
NASDAQ Biotechnology Index (IBB) also reached a new 52-week high of
$153.70, up 0.80%.
In corporate news, Acura Pharmaceuticals, Inc. (ACUR) surged
higher, up about 61%, after it announced that its pseudoephedrine
drug Nexafed, with abuse-deterrent technology, will now be stocked
by chain drug store KERR DRUG. Nexafed should begin to appear on
KERR DRUG shelves within 2 weeks. Nexafed launched commercially in
December 2012 and is now available through national and regional
Power Play -
Consumer ETFs were firmer: Consumer Staples Select Sector SPDR
(XLP), up 0.31%; iShares Dow Jones US Consumer Goods (IYK), up
0.62%, with a new 52-week high of $83.03; and Vanguard Consumer
Staples ETF (VDC), up 0.38%, with a new 52-week high of $97.36.
Retail ETFs were also higher, nearing their 52-week highs: SPDR
S&P Retail (XRT), up 1.09% and PowerShares Dynamic Retail
(PMR), up 0.49%. Market Vectors Retail ETF (RTH) was down 1.7% but
touched a new 52-week high of $47.70.
In sector news, JC Penney (JCP) was down more than 9%, adding to
pre-market losses of some 3%, after CNBC reports a 10 million share
block in the troubled retailer was being shopped by Deutsche Bank's
trading desk. The asking price of the block owned by Vornado Realty
Trust was for a range between $16.40 and $16.60, one source
confirmed, valuing the stake between $164 million and $166 million.
the report added.
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