Mid-Day ETF Update: ETFs, Stocks Lose Gains as Optimism from ECB Rate Cut, GDP Data And Twitter IPO Subside


Active broad-market exchange-traded funds in Thursday's regular session:

SPDR S&P 500 ETF Trust ( SPY ): -0.6%, with new 52-week highs

iShares MSCI Emerging Markets Index ( EEM ): -1.1%

iShares Russell 2000 Index ( IWM ): -0.9%, with new 52-week highs

PowerShares QQQ Trust, Series 1 ( QQQ ): -1.2% from near 52-week highs

iPath S&P 500 VIX Short Term Futures TM ( VXX ): now +1.1%, earlier hit a new 52-week low

Broad Market Indicators

Many broad-market exchange-traded funds, including SPY, IWM, IVV and others were now in the red, but lots of them reached or got near 52-week highs earlier. Reflecting this, actively traded PowerShares QQQ ( QQQ ) was down 1.2% from near 52-week highs.

U.S. stocks were also in negative territory, as earlier enthusiasm on the heels of a surprise rate cut by the European Central Bank, added to unexpectedly strong domestic economic data fizzled. Weekly jobless claims fell by 9,000 to 336,000, exceeding economists' forecasts. Meanwhile, U.S. GDP rose 2.8% in Q3. Twitter's ( TWTR ) much-hyped IPO supported stocks, but the sentiment stemming from that was not enought to help sustain positive momentum.

Power Play: Technology

Technology Select Sector SPDR ETF (XLK), 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) were all weaker, but all earlier reached 52-week highs.

Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) was down 1% and Semiconductor Sector Index Fund (SOXX) was down 1.1%. SPDR S&P International Technology Sector ETF (IPK) off 0.6%, but near 52-week highs.

Among stocks, Twitter Inc (TWTR) opened at $45.10 - a 73% bulge over its $26 IPO price - and was over 77% higher at last look, although off a high of $50.09. This, still, gave the micro-blogging website a market value of near $25 billion in its debut on the New York Stock Exchange today.

Winners and Losers

Financial -

Select Financial Sector SPDRs (XLF) has turned negative and is now down 0.2%, but still near its 52-week high. Direxion Daily Financial Bull 3X shares (FAS) was down 1.1%. Its bearish counterpart, FAZ, was up 1.1% after sinking to a new 52-week low.

Among financial stocks, St. Joe Company (JOE) was up near 20% after the company said it has agreed to sell 382,834 acres of its non-strategic timberland and rural land in Northwest Florida for $565 million to Utah-based AgReserves.

Energy -

Dow Jones U.S. Energy Fund (IYE) was down 0.45% and Energy Select Sector SPDR (XLE) was down 0.6% - with both reaching new 52-week highs earlier.

In sector news, Apache (APA) was up 2% and neared a 52-week high after reporting Q3 EPS of $2.32 on revenues of $4.41 billion, which topped the Capital IQ consensus estimate as production grew sequentially by 13,000 barrels per day of oil and natural gas liquids.

Commodities -

Crude was down 0.51%; United States Oil Fund (USO) was down 0.7%. Meanwhile, natural gas was up 0.84%, and United States Natural Gas Fund (UNG) was up 0.5%.

Gold was down 0.68%, and SPDR Gold Trust (GLD) was down 0.75%. Silver was down 0.43%; iShares Silver Trust (SLV) was down 0.6%.

Healthcare -

Health Care SPDR (XLV) was down 0.25%, but reached a new 52-week high; likewise, Vanguard Health Care ETF (VHT) and iShares Dow Jones US Healthcare (IYH) were weaker, but with fresh new 52-week highs. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) was down 0.7%.

Among stocks, Geron Corp (GERN) has soared more than 60% but is nearly $2 off a new 52-week high hit earlier following the release of a supportive Mayo Clinic study of GERN's imetelstat drug candidate in treating myelofibrosis. According to The Street.com, which obtained a copy of the study results, four patients had complete remission and another patient had a partial remission. Three other patients also showed clinical improvement out of a total 18 patients evaluable for response - 11 from the first Cohort A and 7 from Cohort B.

Consumer -

Consumer Staples Select Sector SPDR (XLP) was down 0.86%, reaching a new 52-week high of $42.71; Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK) edged lower, also with new 52-week highs.

Among stocks, Tempur Sealy (TPX) was up 16% after reporting Q3 EPS of $0.73, on sales of $735.5 million, versus the Capital IQ analyst consensus of $0.68 per share on sales of $708 million. For the full year 2013, the company expects sales of $2.425 billion - $2.45 billion and EPS of $2.25 - $2.40, versus the Street view of $2.43 billion in sales and earnings of $2.31 per share.

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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