Mid-Day ETF Update: ETFs, Stocks Extend Losses as Disappointment About Earnings, Economic Data and Europe Weighs


Active broad-market exchange-traded funds at mid-day:

SPDR S&P 500 ( SPY ): -1.35%

PowerShares QQQ Trust, Series 1 ( QQQ ): -2%

iShares Russell 2000 Index ( IWM ): -1.89%

Financial Select Sector SPDR ( XLF ): -1%, still near year high

iShares FTSE/Xinhua China 25 Index ( FXI ): -0.53%

Broad Market Indicators

Broad-market exchange-traded funds, including SPY, IWM, IVV and others, continue to be weaker. Actively traded PowerShares QQQ ( QQQ ) is down 2%.

U.S. stocks continue to sink as disappointment with housing data, corporate earnings reports, and the perceived EU inaction on the debt crisis in Europe takes a toll on market sentiment.

Winners and Losers

Financial -

Select Financial Sector SPDRs ( XLF ) is down 1%, but is still near its year high. Direxion Daily Financial Bull 3X shares (FAS) is down 3%. Its bearish counterpart, FAZ, is up 3%.

Among financial actives, E*TRADE Financial (ETFC) is down 8.6%, adding to losses of about 5% in yesterday's late trading, when the company reported a Q3 loss of $0.10 per share, ex one-time items, versus the Capital IQ consensus of $0.09 earnings per share. Revenues were $490 mln, versus the analyst estimate of $440.19 mln.

Technology -

Most Tech ETFs continue to skid lower: Technology Select Sector SPDR ETF (XLK), down 1.7%; iShares Dow Jones US Technology ETF (IYW), down 1.9%; iShares S&P North American Technology ETF (IGM), down 1.7%; and iShares S&P North American Technology-Software Index (IGV), down 1.65%.

Semiconductor ETFs are lower, sinking near year lows: SPDR S&P Semiconductor (XSD) is down 3.1%, just above its year low of $40.30; Semiconductor Sector Index Fund (SOXX) is down 2.5%. SPDR S&P International Technology Sector ETF (IPK) is down 1%.

Energy -

Dow Jones U.S. Energy Fund (IYE) is down 1.3%; Energy Select Sector SPDR (XLE) is down 1.32%.

Commodities -

Crude was down 1.63%; natural gas was up 0.97%, nearing its year high. United States Oil Fund (USO) is down 1.9%. United States Natural Gas Fund (UNG) is up 1.2%.

Gold was down 1.44% while silver was down 2.55%. Among rare metal funds, SPDR Gold Trust (GLD) is down 1.1%; iShares Silver Trust (SLV) is down 2%.

Healthcare -

Healthcare ETFs Health Care SPDR (XLV), down 1.55%; Vanguard Health Care ETF (VHT), down 1.7% from near year highs; and iShares Dow Jones US Healthcare (IYH), down 1.6% from near year highs. Also, Biotech ETF iShares NASDAQ Biotechnology Index (IBB) is down 3%.

Consumer ETFs are lower: Consumer Staples Select Sector SPDR (XLP), down 1%; iShares Dow Jones US Consumer Goods (IYK), down 0.51%; and Vanguard Consumer Staples ETF (VDC), down 1.2%.

Retail ETFs are also weaker: SPDR S&P Retail (XRT), down 1.8%; PowerShares Dynamic Retail (PMR), down 0.81%; and Market Vectors Retail ETF (RTH), down 1% but earlier touched a new year high of $45.37.

Power Play -

Industrial -

Homebuilder ETFs showed early strength, even jumping to new year highs, before pulling back and settling in the red following the downbeat housing data. SPDR S&P Homebuilders (XHB) is now down 0.4% but earlier touched a new year high of $26.35. iShares Dow Jones US Home Construction Index Fund (ITB) is flat after also reaching a new year high of $21.10; and PowerShares Dynamic Building & Construction Portfolio (PKB) is off 1.5% from near its 52-week high.

Industrial ETFs are in the red: Vanguard Industrials (VIS), down 1.3%; iShares Trust Dow Jones U.S. Industrial Sector Index Fund (IYJ), down 1.5%; and Select Sector SPDR-Industrial (XLI), down 1.6%.

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

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

This article appears in: Investing , Commodities

Referenced Stocks: FXI , IWM , QQQ , SPY , XLF

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