Active broad-market exchange-traded funds at Wednesday's regular
SPDR S&P 500 (
): +0.1%, has turned positive, shy of all-time high.
iShares MSCI Japan (
): -0.04%, shy of its 52-week high
iShares MSCI Emerging Markets Index (
PowerShares QQQ Trust, Series 1 (
): +0.4%, reaching a new 13-year high.
Select Financial Sector SPDRs (
): +0.07%, near five-year highs
Market Vectors Gold Miners (GDX): -2.3%
Broad Market Indicators
Broad market exchange-traded funds were mixed, but most were
still near their record or multi-year highs. Actively traded
PowerShares QQQ (
) reached a new 13-year high of near $89.
U.S. stocks were also mixed to lower amid a muted reaction to
earnings reports. Investors may be cautious ahead of the weekly
jobless claims and existing home sales data due to be released
Power Play: Healthcare
Health Care SPDR (XLV) and Vanguard Health Care ETF (VHT) and
iShares Dow Jones US Healthcare (IYH) and Biotech ETF iShares
NASDAQ Biotechnology Index (IBB) were all slightly higher and all
have reached fresh record highs.
In corporate news, Intercept Pharmaceuticals (ICPT) was up near
5%, seeing continued strength over the last five days. Janney
Capital Markets recently raised its target price on the
biopharmaceutical company to $450 from $300, saying it has bullish
expectations for the phase 2 programs of its Obeticholic Acid
treatment, or OCA, in portal hypertension & primary/secondary
bile acid diarrhea. In addition, Wedbush recently raised its price
target on the stock to $449 from $72.
Winners and Losers
Select Financial Sector SPDRs (
) and Direxion Daily Financial Bull 3X shares (FAS) were both up
and near 52 week highs. FAZ, was down 0.7% and was near an all-time
Among financial stocks, Norfolk Southern Corp. (NSC) was up 5%
but nearly $2 off a fresh all-time high hit earlier, after the
railroad operator posted fourth-quarter earnings and revenue above
analysts' expectations and said it plans to invest 12% more in 2014
Technology Select Sector SPDR ETF (XLK) was down 0.05%, but just
below its 12-year high. 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
slightly higher. SPDR S&P International Technology Sector ETF
(IPK) was flat.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) was
up 0.5% and reached a new high of $62.92. Semiconductor Sector
Index Fund (SOXX) was up 1%, and was near its all time high.
In stocks news, Super Micro Computer (SMCI) was up 24%, reaching
a new high of $23.54, after the price target for the stock was
raised to $27 from $18.50 at DA Davidson.
Dow Jones U.S. Energy Fund (IYE) was up 0.3%, as was Energy
Select Sector SPDR (XLE) too.
In corporate news, Gran Tierra Energy Inc. (GTE, GTE.TO) was up
6% on the back of the company's Tuesday announcement that it has
found "significant" reserves at its Bretana oil field in Peru. The
company said a qualified independent reserve evaluation of the
company's Peru reserves by GLJ Petroleum Consultants Ltd. effective
December 31, 2013 showed Breta a 2P had reserves of 61.5 million
barrels of oil and 3P reserves of 113.9 million barrels of oil.
Crude was up 0.98%; United States Oil Fund (USO) was up 1.6%.
Natural gas was up 3.47%, near its 52-week high and United States
Natural Gas Fund (UNG) was up 3.9%. Gold was down 0.22% and silver
was down 0.05%. Among rare metal funds, SPDR Gold Trust (GLD) was
down 0.2%; iShares Silver Trust (SLV) was down 0.3%.
Consumer Staples Select Sector SPDR (XLP) was up 0.05%; other
consumer ETFs Vanguard Consumer Staples ETF (VDC) and iShares Dow
Jones US Consumer Goods (IYK) were also higher.
In stocks news, Coach (COH) was down 7% after it reported Q2
earnings of $1.06 per share, below the analyst consensus of $1.11
per share on Capital IQ. Sales were $1.42 billion, vs. expectations
of $1.48 billion.