Active broad-market exchange-traded funds in Friday's regular
SPDR S&P 500 ETF Trust (
Direxion Daily Gold Miners Bull 3X Shares (
iPath S&P 500 VIX Short Term Futures (
): -0.9%, nearer 52-week lows
Market Vectors Gold Miners (
iShares MSCI Emerging Markets Index (
Winners and Losers
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, were lower. Actively traded PowerShares QQQ (QQQ) was up
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 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
, 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
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%.
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
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 (
) was down 3%.
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
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
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
Power Play -
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.
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