Mid-Day ETF Update: ETFs, Stocks Give Up Earlier Gains Ahead of Alcoa Earnings, Bernanke Speech

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

SPDR S&P 500 ( SPY ): -0.06%

iPath S&P 500 VIX Short Term Futures TM ( VXX ): -1.19%, near 52-week low

iShares MSCI Japan Index ( EWJ ): +0.5%, with a new 52-week high of $11.02

iShares MSCI Emerging Markets Index ( EEM ): -0.18%

iShares Russell 2000 Index ( IWM ): -0.07%

Broad Market Indicators

Broad-market exchange-traded funds, including SPY, IWM, IVV and others have slipped into negative territory. Actively traded PowerShares QQQ (QQQ) was down 0.19%. iShares MSCI Japan Index ( EWJ ) continued to see gains following the start of Japan's new stimulus program, and was up 0.5%, with a new 52-week high of $11.02.

U.S. stocks erased gains at session's half, continuing last week's weakness, as investors look ahead to earnings season, which kicks off with Alcoa's (AA) results tonight. No economic data is on tap for today, giving the markets a breather before February wholesale inventories are released Tuesday. Also after the markets' close, Federal Reserve Chairman Ben Bernanke will be speaking at 7:15 p.m. at an Atlanta Fed conference.

Winners and Losers

Financial -

Select Financial Sector SPDRs (XLF) was down 0.11%, but still near its 52-week high. Direxion Daily Financial Bull 3X shares (FAS) was off 0.09%, but earlier hit a new 52-week of $53.68. Its bearish counterpart, FAZ, was up 0.05%, with a new 52-week low of $42.90.

Among financial stocks, National Bank of Greece (NBG) was down 10.89%, pulling back from earlier losses of nearly 21%, after its merger with Eurobank was halted by the Greek government over the weekend. Shares touched a new 52-week low of $0.61.

Technology -

Tech ETFs are lower: Technology Select Sector SPDR ETF (XLK), down 0.13%; iShares Dow Jones US Technology ETF (IYW), down 0.24%; iShares S&P North American Technology ETF (IGM), down 0.17%; and iShares S&P North American Technology-Software Index (IGV), down 0.46%.

Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) was down 0.27% while Semiconductor Sector Index Fund (SOXX) was up 0.12%.

SPDR S&P International Technology Sector ETF (IPK) was flat.

In sector news, Google (GOOG) was down 1.53%. A report on Digital Trends stated the company is in the negotiating phase with mobile messaging app WhatsApp in what could be a billion dollar acquisition.

Commodities -

Crude was down 0.11%; natural gas was down 0.8%. United States Oil Fund (USO) was down 0.21%. United States Natural Gas Fund (UNG) was down 0.27%.

Gold was down 0.32%. Silver was also lower, down 0.18%. Among rare metal funds, SPDR Gold Trust (GLD) was down 0.50%; iShares Silver Trust (SLV) was down 0.51%.

Healthcare -

Healthcare ETFs are weaker: Health Care SPDR (XLV), down 0.56%; Vanguard Health Care ETF (VHT), down 0.49%; and iShares Dow Jones US Healthcare (IYH) down 0.38%. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) was down 0.48%.

In corporate news, BioCryst Pharma (BCRX) was up 23.53% in the wake of a Bloomberg report that China has expedited the approval of the company's anti-flu drug, Permavir, after three more cases of the H7N9 virus were diagnosed.

Consumer -

Consumer ETFs were in the green: Consumer Staples Select Sector SPDR (XLP), up 0.35%; iShares Dow Jones US Consumer Goods (IYK), 0.40%; and Vanguard Consumer Staples ETF (VDC), up 0.33%.

In sector news, shares of Central European Distribution Corporation (CEDC) continued to plunge, down 40.97% at last check, after the company said this morning that it commenced voluntary proceedings under Chapter 11 of the U.S. Bankruptcy Code.

Power Play -

Energy -

Dow Jones U.S. Energy Fund (IYE) was up 0.16% while Energy Select Sector SPDR (XLE) is up 0.09%

In sector news, GE (GE) and Lufkin Industries Inc. (LUFK) announced today a joint agreement whereby GE will acquire Lufkin Industries Inc., a provider of artificial lift technologies for the oil and gas industry and a manufacturer of industrial gears, for approximately $3.3 billion. Lufkin shareholders will receive $88.50 per share in cash for each of their Lufkin shares. LUFK shares were up 37.65% while GE shares were down 0.35%.



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 , EWJ , IWM , SPY , VXX

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