Mid-Day ETF Update: ETFs, Stocks Mostly Weaker, On Track to Close the Week in the Red


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

SPDR S&P 500 ETF Trust ( SPY ): -0.3%

Direxion Daily Gold Miners Bull 3X Shares ( NUGT ): -4.2%

iPath S&P 500 VIX Short Term Futures ( VXX ): -0.9%, nearer 52-week lows

Market Vectors Gold Miners ( GDX ): -1.6%

iShares MSCI Emerging Markets Index ( EEM ): -0.5%

Winners and Losers

Broad-market exchange-traded funds, including SPY, IWM, IVV and others, were lower. Actively traded PowerShares QQQ (QQQ) was up 0.1%.

U.S. stocks are in the red, and while they are off session lows, they are on their way to closing the week lower. The downbeat market sentiment was weighed by fears the U.S. Federal Reserve will soon begin to withdraw economic stimulus, added to disappointing results from some index heavyweights. Earlier trading was mixed as investors digested economic data released this morning - housing starts were worse-than-expected, rising 896,000 compared with the consensus for 900,000, while non-farm productivity beat forecasts with a 0.9% gain.

Winners and Losers

Technology -

Technology Select Sector SPDR ETF (XLK) was now negative, down 0.2%. Meanwhile, iShares Dow Jones US Technology ETF (IYW) was slightly higher; as was iShares S&P North American Technology ETF (IGM) and iShares S&P North American Technology-Software Index (IGV).

Semiconductor ETFs , SPDR S&P Semiconductor (XSD) and Semiconductor Sector Index Fund (SOXX), were also in positive territory.

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

Energy -

Dow Jones U.S. Energy Fund (IYE) was down 0.7% while Energy Select Sector SPDR (XLE) was off 0.7%.

In sector news, InterOil (IOC) was down near 5% but about $5 above day lows following reports that suggested that talks to sell assets, including its Elk and Antelope fields, to ExxonMobile (XOM) may fall apart. XOM shares were off 0.4%.

Commodities -

Crude was up 0.47% while United States Oil Fund (USO) was after turning negative, now down 0.3% from near 52 week highs; natural gas was down 1.04% while United States Natural Gas Fund (UNG) was down 1.3%.

Gold was up 0.51% and silver was up 1.13%. Among rare metal funds, SPDR Gold Trust (GLD) was up 0.5%; iShares Silver Trust (SLV) was up 1.6%. Direxion Daily Gold Miners ( NUGT ) was down 3%.

Healthcare -

Health Care SPDR (XLV) was off 0.4%; Vanguard Health Care ETF (VHT) and iShares Dow Jones US Healthcare (IYH) were in the red. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) however, was up 0.1%.

In corporate news, Sarepta Therapeutics (SRPT) was up 6% after positive comments from Robert W Baird regarding the new data from a Phase 2 trial of GlaxoSmithKline (GSK) and Prosensa's (RNA) eteplirsen competitor drisapersen. The comments from Baird suggest that SRPT's eteplirsen may be more favorable than GlaxoSmithKline's drisapersen.

Consumer -

Consumer Staples Select Sector SPDR (XLP) was down 0.7%; other consumer ETFs iShares Dow Jones US Consumer Goods (IYK) and Vanguard Consumer Staples ETF (VDC) were also weaker.

J.C. Penney (JCP) and Bill Ackman, the company's largest investor, agreed that Ackman may make up to four requests to sell some of his stake. The rights granted to Ackman under the Aug. 13 agreement end when he and his funds own less than 5% of the retailer's stock, according to a regulatory filing. JCP shares were off 2.4%.

Power Play -

Financial -

Select Financial Sector SPDRs (XLF) was now negative and down 0.2%, but still near its 52-week highs. Direxion Daily Financial Bull 3X shares (FAS) was now down 0.8%. Its bearish counterpart, FAZ, was now up 0.8%.

Among financial stocks, E-House Holdings Limited (EJ) was up 4% at $6.58, but off a fresh 52 week high $7.55 hit earlier after the company posted Q2 earnings topped estimates. The company reported Q2 non-GAAP net income of $15.3 million, or $0.11 per share, on revenues of $163.4 million. Analysts expected EPS of $0.06 and revenues of $136 million. The company raised its fiscal 2013 total revenue guidance to approximately $630 million from the guided amount of approximately $600 million.

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 , GDX , NUGT , SPY , VXX

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