Active broad-market exchange-traded funds in Thursday's regular session:
SPDR Select Sector Fund - Financial ( XLF ): -1%
SPDR S&P 500 ( SPY ): +0.2%
iShares MSCI Emerging Index Fund ( EEM ): -0.2%
Invesco QQQ Trust, Series 1 ( QQQ ): +1%
iPath S&P 500 VIX ST Futures ETN ( VXX ): -3.6%
Broad Market Indicators
Broad-market exchange-traded funds, including IWM and IVV were higher. Actively traded PowerShares QQQ ( QQQ ) was up 0.9%.
U.S. stocks were mixed at session's half, with the Dow Jones Industrial Average erasing early gains tied to bullish economic data and was trading lower for a third straight day.
Legal action against President Donald Trump weighed on market sentiment. The New York Attorney General sued Trump and his charitable foundation on Thursday, alleging the president and his adult children illegally used the private foundation for personal, business, and political expenses.
Earlier, market sentiment had brightened in the wake of the European Central Bank's announcement that it would begin tapering its massive asset purchase program in September, phasing it out completely by the end of the year while keeping interest rates at historic lows until next summer.
The morning uptrade was amplified by U.S. economic data, including a surge in consumer spending and 45-year low in jobless claims. Retail sales jumped 0.8% last month, twice what Wall Street expected, while sales excluding the auto sector increased a healthy 0.9%. Additionally, import and export prices were also higher last month, gaining 0.6% for both.
Power Play: Consumer
Consumer Staples Select Sector SPDR (XLP) was up 0.1% and Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK) were firmer.
Consumer Discretionary Select Sector SPDR (XLY) was up 0.8% and retail funds SPDR S&P Retail (XRT), PowerShares Dynamic Retail (PMR) and Market Vectors Retail ETF (RTH) were in negative territory.
Royal Caribbean Cruises (RCL) rose more than 5% after the company said it is taking a stake in privately held Silversea Cruises, which has a fleet of nine luxury ships, for $1 billion while maintaining earnings guidance for the year even as dollar strength and fuel costs weigh. Silversea's executive chairman, Manfredi Lefebvre D'Ovidio, will get about 472,000 shares in Miami-based Royal Caribbean, payable when certain performance metrics are attained. RCL will hold almost 67% of Silversea under the deal, which is expected to close later in the year.
Winners and Losers
The Select Financial Sector SPDRs ( XLF ) was down 1.1%. Direxion Daily Financial Bull 3X shares (FAS) was down 1.3% and its bearish counterpart Direxion Daily Financial Bear 3X shares (FAZ) was up 1.2%.
Prospect Capital (PSEC) was up 0.3% after the firm said $147 million, or 49% of 5.00% senior notes due 2019, were validly tendered under its previously announced $300 million tender offer. The consideration to be paid is $1,020 plus accrued and unpaid interest. The settlement date is expected to be June 20.
Dow Jones U.S. Energy Fund (IYE) was up 0.1% and Energy Select Sector SPDR (XLE) was up 0.1%.
Concho Resources (CXO) fell 2.5% after the company said it plans to offer, subject to market conditions, two new series of senior unsecured notes with maturities in 2028 and 2048. The company intends to use the net proceeds for debt repayments, and for investments.
Technology Select Sector SPDR ETF (XLK) was up 0.7% while other tech funds iShares Dow Jones U.S. Technology ETF (IYW), iShares S&P North American Technology ETF (IGM) and iShares S&P North American Technology-Software Index (IGV) were firmer.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) was up 1% and Semiconductor Sector Index Fund (SOXX) was up 0.6%.
Pandora (P) rose nearly 4% after the company said it will team up with Snap (SNAP) as the music streaming launch partner for "Snap Kit," Snap's new platform for developers. Pandora said its listeners will soon be able to send their favorite songs to friends and family through unique song cards that celebrate album art on top of an animated background, and receivers will be able to swipe up to listen directly on Pandora. Pandora said this integration will expand its social sharing capabilities by reaching Snapchat's massive audience while enhancing music discovery across both platforms. In the coming weeks, Pandora listeners will be able to share their favorite songs via song cards to a friend one-on-one, to a group of friends, or to their "story." The new share feature will soon roll out to Pandora and Snap users in the U.S. SNAP was up almost 2%.
Crude was up 0.02%. United States Oil Fund (USO) was down 0.1%. Natural gas was down 0.3% while United States Natural Gas Fund (UNG) was down 0.1%.
Gold was up 0.5%. SPDR Gold Trust (GLD) was up 0.3%. Silver was up 1.4%, while iShares Silver Trust (SLV) was up 0.8%.
Health Care SPDR (XLV) was up 0.2% and other health care funds Vanguard Health Care ETF (VHT) and iShares Dow Jones US Healthcare (IYH) were higher. Biotechnology fund iShares NASDAQ Biotechnology Index (IBB) was up 0.7%.
CVS Health (CVS) rose some 1% after the firm said it has expanded its safe medication disposal program to select locations in Virginia. The company plans to install 32 medication disposal units in CVS Pharmacy locations across the state. In addition it has donated 64 units to local law enforcement departments in the state.