Active broad market exchange-traded funds at mid-day:
SPDR S&P 500 (
iShares MSCI Japan Index (
): +0.55%, with a new 52-week high of $10.98
iShares MSCI Emerging Markets Index (
iPath S&P 500 VIX Short Term Futures TM (
Financial Select Sector SPDR (
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, remained in negative territory. Actively traded PowerShares
QQQ (QQQ) was down 1.35%.
U.S. stocks continued to be weighed by the disappointing
economic data reported earlier, seeing sharp declines at session's
half. The U.S. economy generated only 88,000 jobs for March, the
lowest number in the last 10 months. This was below the 192,000
economists expected, according to Briefing.com.
Nonfarm private payrolls added 95,000 - missing the consensus of
210,000. On the other hand, the unemployment rate slipped lower to
7.6% from the prior level of 7.7%. Meanwhile, the Commerce
Department reported that the U.S. trade deficit shrank 3.4% in
February to $43 billion from $44.5 billion in January, due to lower
oil imports. Investors are still looking ahead to the February
consumer credit report, which will be released at 3:00 pm ET.
Winners and Losers
Select Financial Sector SPDRs (
) was down 1.11%. Direxion Daily Financial Bull 3X shares (FAS) was
down 3.19%, but earlier hit a new 52-week high of $52.57. Its
bearish counterpart, FAZ, was up 3.17%, with a 52-week low of
Among financial stocks, the Bank of New York Mellon (BK) slipped
1.42% after it said it was appointed by Osterreichische Post AG
(Austrian Post) as the depositary bank for its American depositary
receipt (ADR) program. Each Austrian Post ADR represents half of an
ordinary share and trades over-the-counter under the symbol
Dow Jones U.S. Energy Fund (IYE) was down 0.36% while Energy
Select Sector SPDR (XLE) was down 0.29%.
In sector news, Hess Corp (HES) was down 0.35%, trimming earlier
losses of some 1%, following news of a proxy fight for control of
the oil and gas company heated up late Thursday, when Elliott
Management filed new documents asserting " the record clearly
demonstrates the history of a CEO focused more on maintaining a
family dynasty than instilling accountability and addressing
Among the factors Elliott cites for bringing in a new chief
executive and implementing other changes at the company are its
contention HES shares have underperformed by 460% during the CEO's
tenure, including a 50% shortfall over the past two years. It also
stated the company has been in a "state of perpetual, ineffective
restructuring" for 17 years.
May crude was down 0.69%; May natural gas was up 0.20%. United
States Oil Fund (USO) was down 1.47%. United States Natural Gas
Fund (UNG) was up 0.19%.
June gold is up 0.81% and silver for May delivery was up 0.29%.
Among rare metal funds, SPDR Gold Trust (GLD) was up 0.94%; iShares
Silver Trust (SLV) was up 0.85%.
were in the red: Health Care SPDR (XLV), down 0.73%; Vanguard
Health Care ETF (VHT), down 0.75%; and iShares Dow Jones US
Healthcare (IYH), down 0.74%. Biotech ETF iShares NASDAQ
Biotechnology Index (IBB) was also pointing lower, down 0.58%.
In corporate news, Arena Pharmaceuticals (ARNA) was off 1.81%
after it announced the initiation of dosing in a Phase 1 clinical
trial of APD334. The product is an oral drug candidate that targets
the sphingosine 1-phosphate subtype 1 (S1P1) receptor for the
potential treatment of autoimmune diseases. Arena said the
randomized, double-blind and placebo-controlled Phase 1 trial would
evaluate safety, tolerability and pharmacokinetics of
single-ascending doses of APD334 in up to 64 healthy adult
Consumer ETFs were lower: Consumer Staples Select Sector SPDR
(XLP), down 0.83%; iShares Dow Jones US Consumer Goods (IYK), down
1%; and Vanguard Consumer Staples ETF (VDC), down 0.84%.
In sector news, HanesBrands (HBI) was up 3.12% after it
announced late Thursday that its board of directors initiated a
quarterly dividend of $0.20 per share. The dividend will be paid
June 3, 2013, for stockholders of record at the close of business
on May 20, 2013. The quarterly dividend is the first for Hanes
since its spinoff as an independent public company in 2006.
Power Play -
Tech ETFs continued to weaken in mid-day action: Technology
Select Sector SPDR ETF (XLK), down 1.17%; iShares Dow Jones US
Technology ETF (IYW), down 1.35%; iShares S&P North American
Technology ETF (IGM), down 1.46%; and iShares S&P North
American Technology-Software Index (IGV), down 1.42%.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) was
down 1.07% and Semiconductor Sector Index Fund (SOXX) was down
SPDR S&P International Technology Sector ETF (IPK) was down
0.92%, with a new 52-week low of $26.86.
In sector news, Exide Technologies (XIDE) trimmed gains, and was
up 12.41% after it disclosed late Thursday night the financial
advisory firm of Lazard has been retained to advise the company on
financing alternatives to maximize the value of the company for all
The company does not anticipate making any further announcements
regarding its review until the process is complete. In addition,
the company expects that fiscal 2013 fourth quarter free cash flow
will be approximately $50 million, exceeding prior guidance of $30
million, with total liquidity (cash and availability under credit
lines) at March 31, 2013 of greater than $230 million. These
amounts are all subject to final audit and, therefore, could be
subject to change.
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