Mid-Day ETF Update: ETFs, Stocks Recover from Monday's Broad Sell-Off Despite Mixed Econ Data; Earnings in Focus

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

SPDR S&P 500 ( SPY ): +1.08%

iPath S&P 500 VIX Short Term Futures TM ( VXX ): -5.21%


iShares Russell 2000 Index ( IWM ): +1.29%

SPDR Gold Trust ( GLD ): +1.42%

ProShares Trust II ( UVXY ): -11.9%, near its 52-week low

iShares MSCI Japan Index (EWJ): +0.62%, near its 52-week high

Broad Market Indicators

Broad-market exchange-traded funds, including SPY, IWM, IVV and others, continues to firm up. Actively traded PowerShares QQQ (QQQ) was up 1.18%.

U.S. stocks extend earlier gains into the session's half, recovering from Monday's losses following a slump in gold and other commodities - the worse decline for the year. Market sentiment continued to brighten despite mixed economic reports, with March industrial production, capacity utilization and housing starts coming in slightly above forecasts. On the other hand, building permits and CPI and core CPI data fell short of expectations. Better-than-expected earnings results from Goldman Sachs (GS), Johnson & Johnson (JNJ) and Coca-Cola (KO) also helped buoy stocks.

Winners and Losers

Technology -

Tech ETFs logged gains in mid-day action: Technology Select Sector SPDR ETF (XLK), up 1.10%; iShares Dow Jones US Technology ETF (IYW), up 1.14%; iShares S&P North American Technology ETF (IGM), up 1.17%; and iShares S&P North American Technology-Software Index (IGV), up 1.17%.

Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) was up 1.58% and Semiconductor Sector Index Fund (SOXX) was up 1.24%.

SPDR S&P International Technology Sector ETF (IPK) was up 2.02%.

In sector news, NetGear Inc. (NTGR) has slipped 7.51% to a new 52-week low of $28.24. NTGR said late Monday it expects net revenue for Q1 between $290 million to $295 million, which is an update to the previously estimated range, of $290 million to $305 million. The company expects non-GAAP Q1 earnings of $0.45 to $0.50. The Thomson Reuters mean is for EPS of $0.59 on sales of $299.66 million.

Energy -

Dow Jones U.S. Energy Fund (IYE) was up 0.89% and Energy Select Sector SPDR (XLE) was up 0.88%.

In sector news, Northern Oil & Gas (NOG) was up 2.7% after the company said late Monday that it expects Q1 production to average about 11,100 barrels of oil equivalent per day, a increase of 30% year over year and 2% over the prior quarter. During the quarter, the company added 128 gross (9.6 net) wells to production. NOG expects its Q1 realized price per barrel of oil equivalent, including the effect of settled derivatives, to be between $82.00 - $83.00. Lease operating expense (LOE) per barrel of oil equivalent is projected to be $8.50 - $9.00.

Commodities -

Grain prices ticked higher after the USDA reported late Monday that U.S. farmers have commence planting the U.S. corn crop, planting about 2%, which is below the rate last year of 16% and below the 5-year average of 7%. The decline in planting rate was due to recent rains, the report said. Corn was up 0.88% at a 52-week high of $633.50. Teucrium Corn Fund (CORN) was also higher, up 1.56%.

Crude was down 0.48%; natural gas was down 0.71%. United States Oil Fund (USO) was up 0.03%. United States Natural Gas Fund (UNG) was down 0.66%.

Gold was up 1.7%. Gold funds continued to be in positive territory, but off session highs: SPDR Gold Trust ( GLD ) up 1.42%; iShares Gold Trust(IAU), up 1.67%; and Market Vectors Gold Miners (GDX), up 1.14%. Silver was up 1.26%. iShares Silver Trust (SLV) was up 3.30%.

Healthcare -

Healthcare ETFs were firmer: Health Care SPDR (XLV), up 0.98%; Vanguard Health Care ETF (VHT), up 1.03%; and iShares Dow Jones US Healthcare (IYH), up 1.1%. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) is up 1.26%.

In corporate news, Sarepta Therapeutics (SRPT) was down 12.77% after the company late Monday said the FDA has requested additional information for the accelerated approval of eteplirsen for treating Duchenne muscular dystrophy.

Consumer -

Consumer ETFs were higher, nearing their 52-week highs: Consumer Staples Select Sector SPDR (XLP), up 1.45%; iShares Dow Jones US Consumer Goods (IYK), up 1.44%; and Vanguard Consumer Staples ETF (VDC), up 1.12%.

In sector news, Coca-Cola (KO) was 5.24%, touching a new 52-week high of $42.32, after it reported Q1 EPS of $0.39, including $0.07 per share in items, vs. $0.46 per share last year, including an item that increase EPS by $0.01 per share. The analyst consensus was $0.45 per share, generally an ex items number. Revenue was $11.03 billion, vs. $11.13 billion last year. The analyst view on Capital IQ called for revenue of $10.97 billion.

Power Play -

Financial -

Select Financial Sector SPDRs (XLF) was up 1.11%, near its 52-week high. Direxion Daily Financial Bull 3X shares (FAS) was up 3.07%. Its bearish counterpart, FAZ, was down 2.97%.

Among financial stocks, regional bank Comerica (CMA) was up 1.03% after it earlier reported first quarter 2013 net income of $134 million, up against $130 million for the same period a year ago. Earnings per fully diluted share were 70 cents for the first quarter 2013, up from 66 cents in Q1 last year. "Broad-based average loan growth in each of our primary geographic markets, together with tight expense controls, contributed to our increased net income in the first quarter," said CEO and Chairman Ralph W. Babb Jr.



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: GLD , IWM , SPY , UVXY , VXX

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As of 12/18/2014, 04:15 PM


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