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ETF Closing Report: ETFs, Stocks Mostly Lower Ahead of Session's Close on Trade War Concerns, Weakness in Crude Oil Prices


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Active broad-market exchange-traded funds ahead of the close of the Friday's shortened session:

United States Oil Fund ( USO ): -6.3%

VelocityShares 3x Inverse Natural Gas ETN ( DGAZ ): -0.70%

SPDR S&P 500 ( SPY ): -0.4%

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

SPDR Select Sector Fund - Financial ( XLF ): -0.4%

Broad Market Indicators

Broad-market exchange-traded funds, including IWM and IVV were mixed. Actively traded PowerShares QQQ (QQQ) was down 0.4%.

US stocks were looking to close the shortened Friday session in negative territory, with trading volumes lighter than usual following the US Thanksgiving holiday.

Trade war worries continued to be at the forefront, with investors concerned that US-China trade ties might deteriorate after a news report suggested the Trump administration has reached out to foreign allies in a bid to persuade wireless and internet providers to stop using equipment from China's Huawei Technologies Co., citing a cyber-security risk. President Donald Trump and China President Xi Jinping are expected to meet at the Group of 20 meeting in Argentina later this month.

Energy stocks led losers as crude oil prices slumped for the seventh-straight week, as oversupply worries continued to weigh, even as oil producers are reportedly looking into cutting production. The Organization of the Petroleum Exporting Countries is considering cutting production at an upcoming meeting on Dec. 6, according to media reports.

No economic data were released for today.

Power Play: Energy

Dow Jones US Energy Fund (IYE) and Energy Select Sector SPDR (XLE) were each down more than 3%.

Nordic American Offshore (NAO) tumbled more than 22% after it said in a letter to shareholders Friday it will not move forward on plans to merge with Horizon Maritime Services. The company, which operates platform supply vessels, said on Oct. 1 that it had signed a memorandum of understanding with Horizon for a deal that would see Nordic American shareholders own 48% of the resulting business and Horizon shareholders own 52%.

Winners and Losers

Financial

The Select Financial Sector SPDRs ( XLF ) fell 0.4% ahead of the close. Direxion Daily Financial Bull 3X shares (FAS) was down 1% and its bearish counterpart Direxion Daily Financial Bear 3X shares (FAZ) was up 1.2%.

County Bancorp (ICBK), the parent company for Investors Community Bank, said that it will pay an unchanged quarterly cash dividend of $0.07 per share. The dividend will be payable on Dec. 28, to shareholders of record as of Dec. 14. Shares were down 2.8%.

Technology

Technology Select Sector SPDR ETF (XLK) was down 0.6% and other tech funds iShares Dow Jones US Technology ETF (IYW) and iShares S&P North American Technology ETF (IGM) were in the lower.

Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) was up 0.7% while Semiconductor Sector Index Fund (SOXX) was up 0.4%.

Shares of A10 Networks (ATEN) rose some 6% after Reuters, citing people familiar with the matter, reported that the company was considering strategic options, including a potential sale. The discussions at the company are at an early stage and there is no certainty anything will happen, Reuters reported.

Commodities

Crude was down 6.8.%. United States Oil Fund ( USO ) was down 6.3%. Natural gas was up 1.1% while United States Natural Gas Fund (UNG) was up 0.4%.

Gold was down 0.4%. SPDR Gold Trust (GLD) was down 0.2%. Silver was down 1.7%, while iShares Silver Trust (SLV) was down 1.4%.

Consumer

Consumer Staples Select Sector SPDR (XLP) rose 0.7% and Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones U.S. Consumer Goods (IYK) were mixed.

Consumer Discretionary Select Sector SPDR (XLY) was down 0.06% and retail funds SPDR S&P Retail (XRT) and Market Vectors Retail ETF (RTH) were also mixed.

Kohl's (KSS) said it had logged record online sales on Thanksgiving, with CEO Michelle Gass saying that 80% of its online traffic came from mobile devices, according to CNBC. Gass, who said the company was "bullish on the holiday season," also said that a record number of customers opted to buy online and pick up their orders in store, according to CNBC. The company was selling 60 Instant Pots and 40 Fitbit units per minute online on Thursday, Gass said, according to CNBC. KSS shares fell more than 3%.

Health Care

Health Care SPDR (XLV) was up 0.4% and other health care funds including Vanguard Health Care ETF (VHT) and iShares Dow Jones U.S. Healthcare (IYH) were higher. Biotechnology fund iShares NASDAQ Biotechnology Index (IBB) was up 1%.

Novo Nordisk A/S (NVO) rose more than 2% after it disclosed that a phase 3a clinical trial of an oral form of semaglutide conducted with Japanese adults with diabetes met its primary endpoints. The 52-week Pioneer 9 trial tested the safety and efficacy of oral semaglutide, which is an investigational GLP-1 taken once daily as a tablet. The study was of oral semaglutide versus Victoza as well as placebo in 243 Japanese adults with type 2 diabetes. From a mean baseline HbA of 8.2%, people treated with 3, 7 and 14 mg oral semaglutide experienced statistically significant reductions in HbA of 1.1%, 1.5%, and 1.7%, respectively, compared with a reduction of 0.1% with placebo after 26 weeks. Furthermore, the 14 mg dose achieved a statistically significantly greater reduction in HbA compared with a reduction of 1.4% with Victoza.

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) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.





This article appears in: Investing , ETFs
Referenced Symbols: USO , DGAZ , SPY , EEM , XLF



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