Mid-day ETF Update: ETFs Weaker, Stocks Mixed As Investors Look Ahead to Fed Meeting Minutes, Housing Data


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

SPDR S&P 500 ETF Trust ( SPY ): -0.13%

Direxion Daily Gold Miners Bull 3X Shares ( NUGT ): +0.4%

iShares MSCI Emerging Markets Index ( EEM ): -1%

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

Select Financial Sector SPDRs ( XLF ): -0.8%

Broad Market Indicators

Broad-market exchange-traded funds, including SPY, IWM, IVV and others, extended their losses. Actively traded PowerShares QQQ (QQQ) was up 0.6%.

U.S. stocks continued to churn in mixed trade. Worries over the Federal Reserve's plan to taper its bond buying program still cast a pall over market sentiment, with investors intent on gleaning more information on the Fed's moves from the minutes of the latest Federal Open Market Committee meeting, due out Wednesday. Two housing reports will also be released this week - the existing home sales report by the National Association of Realtors, at 10 am Wednesday, and the new home sales report by the Commerce Department, out 10 am Friday.

Winners and Losers

Financial -

Select Financial Sector SPDRs ( XLF ) was down 0.85%. Direxion Daily Financial Bull 3X shares (FAS) was 2.2% lower. Its bearish counterpart, FAZ, was up 2.2%.

Among stocks, U.S. real estate and home-related marketplace Zillow Inc. (Z) slipped 5.5% after it earlier disclosed plans for an underwritten public offering of 2.5 million shares of its Class A common stock. pursuant to an effective shelf registration statement. The company today also said it was acquiring StreetEasy, a New York-based real estate website for $50 million in cash. StreetEasy attracts nearly 1.2 million monthly unique users, primarily home shoppers in the New York region.

Technology -

Technology Select Sector SPDR ETF (XLK) was up 0.4%; other tech ETFs iShares Dow Jones US Technology ETF (IYW), iShares S&P North American Technology ETF (IGM) and iShares S&P North American Technology-Software Index (IGV) were mixed.

Semiconductor ETFs, SPDR S&P Semiconductor (XSD) was down 0.3% while Semiconductor Sector Index Fund (SOXX) was 0.2% lower.

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

In sector news, eFuture Information Technology Inc. (EFUT) is up more than 60% at near $4.50 but well off a new 52-week high $6 a share hit after signing a deal with Rainbow Department Stores. Rainbow has been recognized as one of the top 100 chain retailers in China and plans to use EFUT software to facilitate easy access between sales clerks and their customers.

Energy -

Dow Jones U.S. Energy Fund (IYE) and Energy Select Sector SPDR (XLE) were both down around 1%, respectively.

In sector news, Interoil (IOC) is now down 6.6%, reversing early gains after saying it has finalized a one-year $75 million secured loan facility with Westpac Bank PNG Limited and Bank South Pacific Limited that will help it accelerate its exploration and drilling program. The company is also continuing talks with ExxonMobil's (XOM) Papua New Guinea unit regarding the development and monetization of Petroleum Retention License 15, even as the company's exclusivity arrangement has lapsed. XOM shares are off 0.9%.

Commodities -

Crude was down 0.41%; natural gas was up 2.93%. United States Oil Fund (USO) was down 0.7% from near 52 week highs. United States Natural Gas Fund (UNG) was up 2.5%.

Gold was down 0.17%; and silver was down 0.91%. Among rare metal funds, SPDR Gold Trust (GLD) was down 0.5%; iShares Silver Trust (SLV) was up 0.1%.

Consumer -

Consumer Staples Select Sector SPDR (XLP) was down 0.15%; other consumer ETFs iShares Dow Jones US Consumer Goods (IYK), and Vanguard Consumer Staples ETF (VDC) were in the red.

In sector news, Life Time Fitness (LTM) was up 1.1% after its board of directors authorized a share repurchase program under which the company may repurchase up to $200 million of its outstanding common stock.

Healthcare -

Health Care SPDR (XLV) was up 0.4%; Vanguard Health Care ETF (VHT), and iShares Dow Jones US Healthcare (IYH) were both firmer. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) was also higher.

In corporate news, Cell Therapeutics (CTIC) jumped 7% after it said the Transparency Commission (Commission de la Transparence or CT) of the French National Health Authority (Haute Autorite de Sante or HAS) has granted market access for PIXUVRI as a monotherapy to treat adult patients with multiply relapsed or refractory aggressive B-cell non-Hodgkin lymphoma (patients with aggressive B-cell NHL who failed 2 or 3 prior lines of therapy).

Power Play -

Industrial -

Select Sector SPDR-Industrial (XLI) was down 0.22%; other industrial ETFs Vanguard Industrials (VIS) and iShares Trust Dow Jones U.S. Industrial Sector Index Fund (IYJ) were in the red.

In sector news, Edwards Group Ltd (EVAC) has surged 18.3%, setting a 52-week high of $10.35, after the company agreed to a $1.6 billion merger offer from Atlas Copco Group.

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 , NUGT , SPY , VXX , XLF

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