Active broad-market exchange-traded funds at mid-day:
SPDR S&P 500 (
iShares MSCI Emerging Markets Index (
iPath S&P 500 VIX Short Term Futures TM (
): +0.5%, but near 52-week low
Financial Select Sector SPDR (
PowerShares QQQ Trust, Series 1 (
Broad Market Indicators
Most broad-market exchange-traded funds, including SPY, IWM, IVV
and others, continue to be weaker. Actively traded PowerShares QQQ
) is now down 0.2%.
U.S. stocks are lower, but have trimmed their losses somewhat,
following the report that Spain's Banco Santander (SAN) and BBVA
(BBVA) both passed stress tests, while Bank of Spain reported that
the system's capital shortfall is EUR 59.3 bln, in line with
forecasts and within the range of the original audit. This however,
was not enough to lift Wall Street out of its doldrums on this last
trading day of the quarter. Economic data released earlier failed
to inspire investors: the Chicago Purchasing Managers Index fell to
a 49.7 reading for September; personal income in August grew but
was below the expected increase, while personal spending grew
in-line with expectations; core personal consumption expenditures
went up, in-line with forecasts.
Winners and Losers
Select Financial Sector SPDRs (
) is now up 0.1%. Direxion Daily Financial Bull 3X shares (FAS)
also is now up 0.1%. Its bearish counterpart, FAZ, has turned
negative and is now down 0.1%.
Among financial actives, Bank of America (BAC) is down 1.1%
after announcing it, and certain of its current and former officers
and directors, have agreed, subject to court approval, to settle a
class action lawsuit brought in 2009 on behalf of investors who
purchased or held Bank of America securities at the time the
company announced plans to acquire Merrill Lynch. Under terms of
the proposed settlement, Bank of America would pay a total of $2.43
billion and institute certain corporate governance policies.
Tech ETFs are lower: Technology Select Sector SPDR ETF (XLK),
down 0.2%; iShares Dow Jones US Technology ETF (IYW), down 0.13%;
iShares S&P North American Technology ETF (IGM), now flat; and
iShares S&P North American Technology-Software Index (IGV), up
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) is
down 1.1%; and Semiconductor Sector Index Fund (SOXX), down
SPDR S&P International Technology Sector ETF (IPK) is down
In sector news, Research In Motion (RIMM) is up 6% at around
$7.60 but off a day high $8.20 after it reported late yesterday Q2
revenue of $2.9 bln, better than the analyst consensus of $2.50 bln
on Capital IQ. Adjusted loss was $0.27, vs. expectations of a loss
of $0.46 per share. Shipments of BlackBerry smartphones were 7.4
million and shipments of BlackBerry PlayBook tablets were
approximately 130,000. For Q3, the company expects to report an
Dow Jones U.S. Energy Fund (IYE) is down 0.3%; Energy Select
Sector SPDR (XLE) is also down 0.3%.
Agriculture commodities were firmer following a bullish report
from the USDA, stating that corn, soybean and wheat inventories
were down the past quarter. Corn futures went up $0.40, which is
the exchange limit, at $7.56 per bushel. Agriculture ETFs are
firmer: Teucrium Corn Fund (CORN), up 4.91%; iPath Dow Jones UBS
Grains Total Return Sub-Index ETN (JJG), up 4.24%; Teucrium Wheat
Fund (WEAT), up 4.30%; and PowerShares DB Agriculture Fund (DBA),
Crude was up 0.08%, with the day's highs almost touching $93 a
barrel; natural gas was down 0.7%. United States Oil Fund (USO) is
now up 0.1%. United States Natural Gas Fund (UNG) is up 0.8%.
Gold and silver were weaker, down 0.21% and 0.12% respectively.
Among rare metal funds, SPDR Gold Trust (GLD) is down 0.3%; iShares
Silver Trust (SLV) is down 0.36%.
Consumer ETFs are lower in mid-day action: Consumer Staples
Select Sector SPDR (XLP), off 0.3%; iShares Dow Jones US Consumer
Goods (IYK), down 0.3%; and Vanguard Consumer Staples ETF (VDC),
Retail ETFs are weaker: SPDR S&P Retail (XRT), down 0.3%;
PowerShares Dynamic Retail (PMR), down 0.39%; and Market Vectors
Retail ETF (RTH), now flat having touched a new year high.
Power Play -
Healthcare ETFs are ticking lower but still near year highs:
Health Care SPDR (XLV), down 0.5%; Vanguard Health Care ETF (VHT),
0.44%; and iShares Dow Jones US Healthcare (IYH), down 0.41%.
Biotech ETF iShares NASDAQ Biotechnology Index (IBB) is up