Mid-Day ETF Update: ETFs, Stocks Edge Lower But Set for Weekly Gain


Active broad-market exchange-traded funds at Friday's regular session:

SPDR S&P 500 ( SPY ): -0.1%, earlier touched a new record high.

iShares MSCI Emerging Markets Index ( EEM ): +1.2%.

iPath SP 500 VIX Short Term Futures ( VXX ): +0.3%, earlier hit record lows.

iShares Russell 2000 Index ( IWM ): -0.3%, from near 52 week highs.

PowerShares QQQ Trust, Series 1 ( QQQ ): -0.22%, but touched a 12-year high

Broad Market Indicators

Most broad market exchange-traded funds are mixed, with a number setting fresh record or multi-year highs and other hitting record or multi-year lows. Actively traded PowerShares QQQ ( QQQ ) has turned negative and is now down 0.23% after earlier touching its highest level in more than 12 years.

U.S. stocks are on track to close the week with gains but are edging lower in thin holiday related trade with no economic data on tap to provide some direction. Stocks had rallied in Thursday's session after weekly jobless claims showed a sharp decline, spurring the Dow to reach its 50th record close for the year and sixth consecutive close at a record high. Top gainers Twitter ( TWTR ) and Amazon (AMZN) are among the most active today, although both are off the highs they reached earlier or in yesterday's session.

Power Play: Technology

Technology Select Sector SPDR ETF (XLK) and other tech ETFs such as iShares Dow Jones US Technology ETF (IYW), iShares S&P North American Technology ETF (IGM), and iShares S&P North American Technology-Software Index (IGV) have all slipped lower - despite all of them hitting new 52-week highs earlier in this session.

Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) was up 0.23% and Semiconductor Sector Index Fund (SOXX) was up 0.11%; both reaching or nearing new 52-week highs. SPDR S&P International Technology Sector ETF (IPK) was flat.

In sector news, Amazon.com Inc. (AMZN) was down 1.5% after hitting a new record high of $405.63 earlier in the session, as investors continue to weigh the benefits of strong late-season holiday sales against the bottom-line impact of the refunded shipping charges and $20 gift cards the online retailer is giving to customers affected by shipping delays.

Winners and Losers


Select Financial Sector SPDRs (XLF) was down 0.11% having earlier reached a new 52-week high. Direxion Daily Financial Bull 3X shares (FAS) has turned negative and was down 0.2%, just below its 52-week high. Its bearish counterpart, FAZ, was slightly higher having earlier hit a new 52-week low.

Among financial stocks, WPCS International Inc. (WPCS) was up more than 80% at $2.73 - but off a day high $3.40 - after the provider of design-build engineering services for communications infrastructure said late Thursday its BTX Trader LLC subsidiary released a beta version of its Windows-based trading platform.

Energy and Commodities

Dow Jones U.S. Energy Fund (IYE) and Energy Select Sector SPDR (XLE) both jumped to new 52-week highs.

Crude was up 0.79%, off session highs, which it reached following the U.S. Energy Information Administration (EIA) reported a much larger than expected draw of 4.731 million barrels last week. United States Oil Fund (USO) was up 1%.

Natural gas was down 1.62% while United States Natural Gas Fund (UNG) was down 2%.

Gold was up 0.67% and silver was up 0.52%. Among rare metal funds, SPDR Gold Trust (GLD) was up 0.3%; iShares Silver Trust (SLV) was up 1.6%.


Health Care SPDR (XLV), Vanguard Health Care ETF (VHT), and iShares Dow Jones US Healthcare (IYH) have all edged into the negative territory, but remain near 52 week highs. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) was down 0.6%, having earlier actually posted a new 52 week high.

In corporate news, ANI Pharmaceuticals Inc. (ANIP) shares surged Friday to their highest level in more than a year and a half, after the generic pharmaceutical company said it acquired 31 previously marketed generic drug products from Teva Pharmaceutical Industries Ltd. (TEVA) for $12.5 million in cash and a percentage of future gross profits from product sales.


Consumer Staples Select Sector SPDR (XLP) was up 0.1%. Among other consumer ETFs, Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK) were also edging higher.

In stocks news, Tesla (TSLA) was down about 2.4% reversing from pre-market gains. Tesla shares enjoyed a two-day rally after the National Highway Safety Administration awarded it a five-star rating for safety.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: EEM , IWM , QQQ , SPY , VXX

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