Mid-Day ETF Update: Broad Market ETF's Modestly Higher, Emerging Market Funds Dip on China Data
Active broad-market exchange-traded funds in Monday's regular session:
SPDR S&P 500 ( SPY ): +0.1%
iShares MSCI Emerging Markets Index ( EEM ): -1.25%
Select Financial Sector SPDRS ( XLF ): +0.1%, nearer year highs
iShares MSCI Japan Index Fund ( EWJ ) +1.4%
iShares S&P 500 VIX Short Term Futures ( VXX ) -1%
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and others, are modestly firmer. Actively traded PowerShares QQQ (QQQ) is up 0.3%. Emerging market funds are weaker following weaker-than-expected data from China, pointing to a slowdown. Japan funds are among the best performers after the country's Topix Index put in its best performance since March 2011.
U.S. stock indices are slightly higher at the mid-session, shrugging off the weak data from China. Sentiment was helped by Standard & Poor's upping the U.S.'s AA+ credit rating outlook to stable from negative.
Winners and Losers
Select Financial Sector SPDRs ( XLF ) is up 0.1% and nearer a year high. Direxion Daily Financial Bull 3X shares (FAS) is up 0.35%. Its bearish counterpart, FAZ, is down 0.4% and near its year low.
Among financial stocks, Stellarone (STEL) is up almost 17% and earlier hit a 52-week high of $19.43 after it agreed to a buyout offer from Union First Market Bank (UBSH) for $19.50 in stock to create a banking group with assets of $7.2 billion. StellarOne shareholders will receive 0.9739 shares of Union common stock for each share of StellarOne. UBSH is down more than 1%.
Tech ETFs Technology Select Sector SPDR ETF (XLK) is up 0.44%, iShares Dow Jones US Technology ETF (IYW) is up 0.3%, iShares S&P North American Technology ETF (IGM) has gained 0.04%. All are near year highs. iShares S&P North American Technology-Software Index (IGV) is bucking the trend, down 0.6%.
Semiconductor ETFs, SPDR S&P Semiconductor (XSD) has gained 0.5% and Semiconductor Sector Index Fund (SOXX) is up 0.33%. SPDR S&P International Technology Sector ETF (IPK) is up 1.3%.
In company news, Apple Inc (AAPL) is up nearly 1.2% with the tech giant reportedly set to introduce new iOS software and a new digital music service at its world-wide developer's conference starting today in San Francisco.
Dow Jones U.S. Energy Fund (IYE) and Energy Select Sector SPDR (XLE) are both little changed, with a negative bias.
FieldPoint Petroleum Corporation (FPP) announced that company Founder, President, and CEO, Mr. Ray D. Reaves, died in an automobile accident in Bastrop County, Texas. The shares are down 9% and nearer a year low.
July crude is down 0.32%; July natural gas is up 0.16%. United States Oil Fund (USO) is down 0.4%. United States Natural Gas Fund (UNG) is down 1.1%.
June gold is flat and silver for July delivery is up 0.75%. Among rare metal funds, SPDR Gold Trust (GLD) is up 0.5%, but remains near a year low; iShares Silver Trust (SLV) is up 1.8% from near year lows.
Consumer ETFs Consumer Staples Select Sector SPDR (XLP) up 0.02%, iShares Dow Jones US Consumer Goods (IYK) is up 0.23%, and Vanguard Consumer Staples ETF (VDC) has gained 0.07%.
In company news, Motorcar Parts of America (MPAA) is up 12%, earlier climbing to a new 52-week high of $7.80 after today saying it expects to report record annual sales of around $213 mln for its rotating electrical operations when it files its FY13 results for the 12 months ended in March later this month.
Healthcare ETFs Health Care SPDR (XLV) has gained 0.36%, Vanguard Health Care ETF (VHT) is 0.36% higher, and iShares Dow Jones US Healthcare (IYH) has gained 0.35%. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) is down 0.24%.
In corporate news, Elan Corporation (ELN) is up 1% after its Board of Directors has rejected the revised $13/share bid from privately held investment firm Royalty Pharma.
Industrial ETFs Vanguard Industrials (VIS) has gained 0.13%, iShares Trust Dow Jones U.S. Industrial Sector Index Fund (IYJ) is up 0.08%, and Select Sector SPDR-Industrial (XLI) are slightly lower, down 0.09%. All are close to 52-week highs.
In sector news, KMG Chemicals, Inc. (KMG) is up 1% and hit a year high of $23.06 after it reported third quarter 2013 diluted earnings per share of $0.25, compared to analyst estimate of $0.22. Net sales for the quarter totaled $59.9 million. Year-ago diluted earnings per share was $0.33, with net sales of $66.6 million. The company expects earnings per share to slightly improve in fourth quarter 2013, after taking into consideration over $1 million of closing and integration costs anticipated to be recognized in quarter.