Active broad-market exchange-traded funds in Tuesday's regular
SPDR S&P 500 ETF Trust (
iShares MSCI Emerging Markets Index (
iPath S&P 500 VIX Short Term Futures TM (
): -1.7%, nearer 52-week lows
Select Financial Sector SPDRs (
): +0.1%, nearer 52-week highs
iShares Russell 2000 Index (
): +0.9%, nearer 52-week highs
Broad Market Indicators
Most broad-market exchange-traded funds, including SPY, IWM, IVV
and others, were firmer. Actively traded PowerShares QQQ (QQQ) was
up 0.3%, nearer 52-week highs.
U.S. stocks have recovered some of their earlier losses, finding
support in the mostly upbeat economic data reported today. The
S&P Case-Shiller index grew 1.8% and the Federal Housing
Finance Agency's index rose 1%, both for the month of July.
Meanwhile, the Conference Board's consumer confidence index for
September slipped to 79.7 in September from a revised 81.8 in
August - a narrower decline than expected.
Concerns over the U.S. debt ceiling and continuing tensions in
Syria were assuaged somewhat by President Obama's remarks before
the U.N. General Assembly; the President said that the U.S. will
continue to seek diplomatic solutions to the crisis in Syria. Other
issues in Washington like the debt ceiling, and a continuing stream
of comments from members of the Federal Reserve, are keeping some
investors on the sidelines and gains in check.
Winners and Losers
Select Financial Sector SPDRs (
) was up 0.1%, nearer its 52-week highs. Direxion Daily Financial
Bull 3X shares (FAS) was up 0.4%. Its bearish counterpart, FAZ, was
Among financial stocks, Gain Capital Holdings (GCAP) is up more
than 10% and has hit new 52-week highs after the independent
provider of online forex trading reported operating metrics for the
month of August 2013. GCAP reported retail OTC trading volume of
$123.2 billion, a decrease of 13.1% from July 2013 and an increase
of 30.9% from August 2012. Average daily retail OTC trading volume
was $5.6 billion, a decrease of 9.1% from July 2013 and an increase
of 36.8% from August 2012.
Dow Jones U.S. Energy Fund (IYE) and Energy Select Sector SPDR
(XLE) were firmer, both up around 0.7%.
In sector news, Emerald Oil (EOX) was down 5.35% after the
independent oil exploration and production operator late Monday
announced plans to sell 15 million shares of its common stock in a
public offering. It expects to use net proceeds from the offering
to accelerate its development and growth plans as well as funding
leases and acquisition costs in addition to its capital
expenditures. EOX granted 30-day options to underwriters to
purchase up to 2.25 million additional shares to cover possible
Crude was down 0.85%, and United States Oil Fund (USO) was down
0.78%. Natural gas was down 2.23%, and United States Natural Gas
Fund (UNG) was down 2.75%.
Gold was down 0.9%, while SPDR Gold Trust (GLD) was down 0.5%.
Silver was down 1.24%; iShares Silver Trust (SLV) was slightly
Consumer Staples Select Sector SPDR (XLP) was down 0.2%. Other
consumer ETFs iShares Dow Jones US Consumer Goods (IYK) and
Vanguard Consumer Staples ETF (VDC) were both slightly higher.
In sector news, Inventure Foods (SNAK) gained more than 10% and
earlier hit a 52-week high of $11.37, after saying it plans to
acquire substantially all of the assets of Fresh Frozen Foods, LLC,
a branded frozen vegetable processor based in Jefferson, Georgia.
The letter of intent proposes a purchase price of $38 million at
closing plus deferred consideration in the form of an earn-out of
up to $3 million based on 2014 performance, subject to certain
closing and post-closing purchase price adjustments. The
transaction, if completed, is anticipated to be immediately
accretive to earnings.
Health Care SPDR (XLV) was down 0.1%. Among other healthcare
ETFs, Vanguard Health Care ETF (VHT), and iShares Dow Jones US
Healthcare (IYH) were slightly up. Biotech ETF iShares NASDAQ
Biotechnology Index (IBB) was up 0.4%.
In corporate news, Neogen (NEOG) was up 1.7% and has posted a
new 52-week high of $60.99 after the food-safety solutions company
reported a rise in Q1 earnings to $0.32 per share from $0.28 during
the year earlier quarter and matching the Capital IQ analyst
consensus call. Revenue rose 18% year over year to $58.5 million,
topping analyst estimates by $2.5 million.
Power Play -
Technology Select Sector SPDR ETF (XLK) was down 0.15%, but near
52-week highs. Among other tech ETFs, iShares Dow Jones US
Technology ETF (IYW) and iShares S&P North American Technology
ETF (IGM), on the other hand, were firmer. iShares S&P North
American Technology-Software Index (IGV) slipped 0.3%.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) and
Semiconductor Sector Index Fund (SOXX) were both higher. SPDR
S&P International Technology Sector ETF (IPK) was flat.
In tech sector news, Yahoo!(YHOO) shares have advanced 3.5%,
earlier rising to a new 52-week high of $31.53 with shares
appearing to once again earn investor attention following CEO
Melissa Mayer's ongoing clean-up and rebuild efforts.
Also noted in reports is YHOO hiring Jean-Baptiste Queru,
previously with Google's (GOOG) Android team and who will take a
senior principal engineering position on YHOO's mobile team.