Mid-Day ETF Update: ETFs, Stocks Turn Higher on Unexpected Rise in Consumer Sentiment

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Active broad-market exchange-traded funds:

SPDR S&P 500 ( SPY ): +0.7%

Financial Select Sector SPDR ( XLF ): +0.7%

iShares MSCI Emerging Markets Index ( EEM ): +0.7%

PowerShares QQQ Trust, Series 1 ( QQQ ): +1%

iPath S&P 500 VIX Short Term Futures TM ETN ( VXX ): -1%.

Broad Market Indicators

Broad-market exchange-traded funds, including SPY, IWM, IVV and others, are mostly firmer. Actively traded PowerShares QQQ ( QQQ ) is up 1%.

U.S. stocks have mostly turned higher as upbeat consumer sentiment data, which rose to its highest level in more than five years, eased some worries over the looming so-called 'fiscal cliff' - at least temporarily.

Winners and Losers

Financial -

Select Financial Sector SPDRs ( XLF ) is up 0.5%. Direxion Daily Financial Bull 3X shares (FAS) is up 1.2%. Its bearish counterpart, FAZ, is down 1.2%.

Among financial stocks, Moneygram International (MGI) is now up 1.6% from year lows. It posted Q3 EPS of $0.28, topping estimates by a penny. Revenue for the quarter came in at $338.6 million, missing the $343.28 million consensus.

Technology -

Tech ETFs are firmer: Technology Select Sector SPDR ETF (XLK), up 0.6%; iShares Dow Jones US Technology ETF (IYW), up 0.8%; iShares S&P North American Technology ETF (IGM), up 0.9%; and iShares S&P North American Technology-Software Index (IGV), up 0.5%.

Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) is up 1.3%, and Semiconductor Sector Index Fund (SOXX) is up 1%.

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

In sector news, Groupon (GRPN) has touched new year lows after the company reported Q3 revs of $568.6 mln, below the analyst consensus of $592 mln on Capital IQ. Net loss was $0.00. The Street was at a gain of $0.04 per share, but this may not be comparable. For Q4, the company sees revenue of $625 to $675 mln, vs. the Street view of $633 mln. In addition, GRPN was cut to Equalweight from Overweight at Morgan Stanley.

Industrial -

Industrial ETFs are firmer: Vanguard Industrials (VIS), up 0.9%; iShares Trust Dow Jones U.S. Industrial Sector Index Fund (IYJ), up 0.1%; and Select Sector SPDR-Industrial (XLI), up 0.4%.

Among stocks, Molycorp (MCP) is now down 9% and has hit a new 52-week low after reporting in the after hours session that its a Q3 loss was $0.05 per share, narrower than the Capital IQ consensus estimate of $0.13 loss per share. Revenues were $205.6 mln, missing the analyst estimate of $247.6 mln.

Energy -

Dow Jones U.S. Energy Fund (IYE) is up 0.15%; Energy Select Sector SPDR (XLE) is up 0.2%.

In sector news, SandRidge Energy (SD) is now down 4% with a new year low of $4.81, reversing earlier gains, after it reported Q3 earnings.

Commodities -

Crude was up 1.15%; natural gas was down 2.78%. United States Oil Fund (USO) is up 1%. United States Natural Gas Fund (UNG) is down 2.9%.

Gold was up 0.41% while silver was up 1.15%. Among rare metal funds, SPDR Gold Trust (GLD) is down 0.1%; iShares Silver Trust (SLV) is up 0.8%.

Healthcare -

Health Care ETFS are higher: SPDR (XLV), up 0.4%; Vanguard Health Care ETF (VHT), up 0.5%; and iShares Dow Jones US Healthcare (IYH), up 0.2%. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) is up 1.2%.

In corporate news, SciClone Pharmaceuticals (SCLN) is down 22% and has hit new year lows after reporting Q3 earnings.

Power Play -

Consumer -

Consumer ETFs are mostly higher: Consumer Staples Select Sector SPDR (XLP) up 0.14%; iShares Dow Jones US Consumer Goods (IYK), up 0.44%; and Vanguard Consumer Staples ETF (VDC), up 0.1%.

In sector news, Lions Gate Entertainment (LGF) continues to gap higher, now up 13.4% and closer to year highs after reporting Q2 earnings.



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 , QQQ , SPY , VXX , XLF

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As of 11/24/2014, 04:15 PM

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