Active broad market exchange-traded funds at mid-day:
SPDR S&P 500 (
SPDR Gold Trust (
): -7.8%, with a new 52-week low of $131.11
iShares Gold Trust (
): -8%, with a new 52-week low of $13.18
Market Vectors Gold Miners (
): -7.6%, with a new 52-week low of $29.10
iShares Russell 2000 Index (
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, are still logging sharp losses. Actively traded PowerShares
QQQ (QQQ) was down 1.2% from within a $1 of year highs.
U.S. stocks remain in the negative territory and continue to
track commodities and commodity-related currencies lower, as
downbeat economic data both from the U.S. and China reignited
concerns that global growth is slowing down. In the U.S., the Fed's
Empire State index came in at a reading of 3.1, down from the prior
month's reading of 9.2 and missing forecasts, according to a survey
by Briefing.com. The report followed earlier news out of China,
which reported Q1 GDP growth of 7.7%, below expectations for an 8%
gain forecast. China's March industrial production also missed a
10% gain forecast, increasing only 8.9% from the year-earlier
period. The energy and commodities sectors took the most beating as
crude/oil and rare metals sank to new 52-week lows.
Winners and Losers
Select Financial Sector SPDRs (XLF) was down 1%, but still near
its 52-week high. Direxion Daily Financial Bull 3X shares (FAS) was
down 3.1%. Its bearish counterpart, FAZ, was up 3.4%.
Among financial stocks, Citigroup (C) was up 1.6% AT $45.50 but
off a day high $46.29 after it reported Q1 2013 EPS of $1.23; $1.29
excluding CVA/DVA, on revenues of $20.5 billion; excluding CVA/DVA,
revenues came in at $20.8 billion. Analysts were calling for $1.17
earnings per share on $20.2 billion in revenue.
were in negative territory: Technology Select Sector SPDR ETF
(XLK), down 0.89%; iShares Dow Jones US Technology ETF (IYW), down
1%; iShares S&P North American Technology ETF (IGM), down 2%;
and iShares S&P North American Technology-Software Index (IGV)
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) was
down 1.66% and Semiconductor Sector Index Fund (SOXX) was down
SPDR S&P International Technology Sector ETF (IPK) was down
In sector news, DISH Network Corporation (DISH) has submitted a
merger proposal to Sprint Nextel Corporation (S) for a total
consideration of $25.5 billion, consisting of $17.3 billion in cash
and $8.2 billion in stock. Sprint shareholders would receive $7 per
share. This consists of $4.76 per share in cash and 0.05953 DISH
shares per Sprint share. DISH shares were down nearly 6% while S
shares were up 14%, with a new 52-week high of $7.33.
Dow Jones U.S. Energy Fund (IYE) was down 3.2%; Energy Select
Sector SPDR (XLE) was down 3.4%.
In sector news, Basic Energy Services, Inc. (BAS) was down 6%
after it earlier reported selected operating data for the month of
March 2013. Well servicing rig count remained unchanged at 425.
Well servicing rig hours for the month were 72,200 producing a rig
utilization rate of 74%, compared to 71% and 78% in February 2013
and March 2012, respectively.
Healthcare ETFs were easing from near year highs: Health Care
SPDR (XLV), down 0.75% from year highs; Vanguard Health Care ETF
(VHT), down 1% from year highs; and iShares Dow Jones US Healthcare
(IYH), down 0.8%. Biotech ETF iShares NASDAQ Biotechnology Index
(IBB) was down 1.5% but earlier touched a new 52-week high of
In corporate news, Life Technologies (LIFE) was steady higher,
up 7.5% and touching a new 52-week high of $73.50, after announcing
that it is being acquired by Thermo Fisher (TMO) for $76.00 in
cash, representing a 11.8% premium to LIFE's Friday closing price,
or for a total consideration of $11.48 billion. TMO shares were up
1% at $80.32, well off a new 52-week high of $84.55.
Consumer ETFs were lower, but near their 52-week highs: Consumer
Staples Select Sector SPDR (XLP), down 0.8%; iShares Dow Jones US
Consumer Goods (IYK), down 0.82%; and Vanguard Consumer Staples ETF
(VDC), down 0.8%.
In sector news, Starbucks (SBUX) is down 1.1% after a report on
Reuters said the coffee company will cut its Seattle's Best coffee
by 10% to remain competitive with other companies that have
recently cut their coffee prices, like Dunkin' Donuts and Maxwell
Power Play -
Commodities continued to sink as market sentiment slumped
following disappointing data from China. Crude was down 2.79% or
$2.54 to $88.75 a barrel. natural gas reversed earlier gains and
was down 1.11% at %4.26. Among ETFs, United States Oil Fund (USO)
was down 2.4%. United States Natural Gas Fund (UNG) was down
Gold was now down 8.35% with a new 52-week low of $1355; silver
was down 10.87%, also with a new 52-week low of $22.92. Copper was
down 2.55%, sinking to a new 52-low of $3.19 as well. Among gold
funds, SPDR Gold Trust (
) was down 7.24%, and sank to a new 52-week low of $131.11; iShares
Gold Trust (
) was down 7.74%, with a 52-week low of $13.18; and Market Vectors
Gold Miners (
) slumped 7.88%, touching a new 52-week low of $29.10. iShares
Silver Trust (SLV) also plummeted to a new 52-week low of $22.23,
and was down 10%.
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