Mid-Day ETF Update: ETFs, Stocks Up, Heartened By Strong iPhone5 Retail Debut, Renewed Optimism for Possible Spain Bailout


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

SPDR S&P 500 ( SPY ): +0.2%

iShares MSCI Emerging Markets Index ( EEM ): +0.6%

iShares Silver Trust ( SLV ): -0.15%

iShares Russell 2000 Index ( IWM ): +0.69%

iPath S&P 500 VIX Short Term Futures TM ( VXX ): -0.5%, near year lows.

Broad Market Indicators

Broad-market exchange-traded funds, including SPY, IWM, IVV and others, are mixed to slightly higher. Actively traded PowerShares QQQ (QQQ) is up 0.3% and near year highs.

U.S. stocks continue to finding traction from the strong retail launch of Apple Inc.'s (AAPL) iPhone 5 in shops in North America, Australia, Japan, Hong Kong, Singapore, Britain, France and Germany. Investors are also finding renewed optimism following reports that Spain is currently preparing a request for a pre-emptive bailout from European Union authorities. The reform program could be unveiled as soon as next week.

Winners and Losers

Financial -

Select Financial Sector SPDRs (XLF) is down 0.06%. Direxion Daily Financial Bull 3X shares (FAS) has turned slightly positive. Its bearish counterpart, FAZ, is flat.

Among financial stocks, CICI Bank Limited (IBN) is up 6.75%, reaching a new 52-week high of $40.45. The bank's shares were lifted by the recent move by the Indian government to liberalize foreign investments in aviation, retail and broadcasting sectors. According to a report on the Wall Street Journal, the Indian government's reforms are expected to revive the country's slowing economy, and hopes are high that the Indian banking sector will be among those to benefit the most. One of the reforms approved today was a large tax cut on overseas loans taken by local companies, the report stated.

Industrial -

Industrial ETFs are firmer, nearing year highs: Vanguard Industrials (VIS), up 0.03%; iShares Trust Dow Jones U.S. Industrial Sector Index Fund (IYJ), up 0.25%; and Select Sector SPDR-Industrial (XLI), up 0.08%.

Among stocks, KB Home (KBH) is up 17.5% and has hit new year highs after it reported third quarter 2012 earnings of $3.3 million, or $0.04 per share, compared to consensus estimate of $0.16 per share loss. Revenues were $424.5 million, which is below the $430 million estimate. In the same period last year, the company had a net loss of $9.6 million, or $0.13 per share loss, on revenues of $367.3 million.

Tracking KBH, homebuilders ETFs are also higher: SPDR S&P Homebuilders (XHB), up 1.6%, touching a new year high; iShares Dow Jones US Home Construction (ITB), up 2.477%, with a new year high; and PowerShares Dynamic Building & Construction Portfolio (PKB), up 1.75% with a new year high.

Commodities -

Crude was up 0.66%; natural gas was up 3.21%. United States Oil Fund (USO) has turned slightly negative. United States Natural Gas Fund (UNG) is up 1.9%.

Gold for December delivery was up 0.31%; while silver was down 0.22%. Among rare metal funds, SPDR Gold Trust (GLD) is up 0.49%; iShares Silver Trust ( SLV ) is now slightly higher.

Healthcare -

Healthcare ETFs are ticking upward, touching fresh new year highs: Health Care SPDR (XLV), up 0.62%; Vanguard Health Care ETF (VHT), up 0.6%; and iShares Dow Jones US Healthcare (IYH), up 0.77%. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) also jumped to a new year high and is up 0.7%.

Consumer -

Consumer ETFs iShares Dow Jones US Consumer Goods (IYK) is up 0.03%, with a new year high of $76.39; and Vanguard Consumer Staples ETF (VDC), is now down 0.1%, having earlier hit a new year high of $92.66. Consumer Staples Select Sector SPDR (XLP) is slightly lower, but still near year highs.

Retail ETFs are firmer: SPDR S&P Retail (XRT), now down a bit; PowerShares Dynamic Retail (PMR), also now down a small sum; and Market Vectors Retail ETF (RTH), up 0.28% to new 52-week highs.

Power Play -

Technology -

Tech ETFs are firmer, on the back of Apple's (AAPL) gains on the launch of the new iPhone 5. According to several news outlets, demand has been staggering, with Apple devotees queuing up overnight to be the first to own the new handset. AAPL shares have hit fresh new year highs.

Telecommunications ETFs are leading the tech rally: iShares Dow Jones US Telecom (IYZ), up 1.43%, touching a new year high of $26.25; iShares S&P Global Telecommunications (IXP), up 1.10%, nearing year highs; Vanguard Telecommunication Services (VOX), up 1.4%, with a new year high of $76.16; SPDR S&P International Telecommunications Sector ETF (IST), up 1.3%; First Trust NASDAQ CEA Smartphone Index Fund (FONE), up 1.26%; and SPDR S&P Telecom ETF (XTL), up 1.1%.

Technology Select Sector SPDR ETF (XLK) now up 0.06%, nearing year highs: iShares Dow Jones US Technology ETF (IYW), up 0.5%, also near 52 week highs; iShares S&P North American Technology ETF (IGM), up 0.5% and iShares S&P North American Technology-Software Index (IGV), slightly higher.

Among Semiconductor ETFs, SPDR S&P Semiconductor (XSD) is up 0.17% and Semiconductor Sector Index Fund (SOXX) is up 0.78%.

SPDR S&P International Technology Sector ETF (IPK) is up 0.12%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: EEM , IWM , SLV , SPY , VXX

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