ETF Preview: Broad Market ETFs Edge Higher in Quiet Trading; Most at Record or Multi-Year Highs

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

SPDR S&P 500 ( SPY ): +0.51%, hit an all-time high

iShares Russell 2000 Index ( IWM ): +1.38%

PowerShares QQQ Trust, Series 1 ( QQQ ): +0.66%, with a 13-year high

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

Direxion Daily Small Cap Bear 3X Shares ( TZA ): -4.15%

Pre-Market Movers

USD +2%

EWZ +1.6%

EDC +1.4%

TVIX -1.6%

VNM -1.3%

Broad Market Indicators

Broad-market exchange-traded funds, including SPY, IWM and IVV were mostly firmer pre-market. Likewise, actively traded PowerShares QQQ ( QQQ ) was up 0.09%.

U.S. stock futures were edging slightly higher ahead of the May payroll report. The consensus expectations are for a gain of 213,000 jobs last month. The S&P 500 hit another record high Thursday and any disappointment on payrolls may lead to profit taking, analysts say.

Power Play: Consumer

Consumer Staples Select Sector SPDR (XLP), iShares Dow Jones US Consumer Goods (IYK), and Vanguard Consumer Staples ETF (VDC) all climbed to record highs on Thursday, but were inactive pre-market. XLP slipped in the after-hours session.

Retail ETFs SPDR S&P Retail (XRT), Market Vectors Retail ETF (RTH), and PowerShares Dynamic Retail (PMR) were also unchanged after a firmer close.

Among stocks, Men's Wearhouse (MW) said it plans to issue up to $600 million of senior notes due 2022 in a private offering, with the retailer of men's apparel planning to use the proceeds to pay a portion of the approximately $1.8 billion purchase price for its acquisition of Jos. A. Bank Clothiers (JOSB). MW was inactive in recent pre-market trading after closing Thursday at $51.35, in a 52-week range of $32.46 to $58.80.

Winners and Losers


Select Financial Sector SPDRs (XLF) and Direxion Daily Financial Bull 3X shares (FAS) posted sharp gains Thursday, but were inactive pre-bell. FAZ is up 0.6% pre-market recovering from a record low hit Thursday.

Among sector news, Bank of America (BAC) shares declined slightly in Friday's pre-market session, as a report by The Wall Street Journal said the banking giant is in talks to pay at least $12 billion to settle civil probes by the Justice Department and a number of states, citing people familiar with the negotiations. The probes are related to the bank's alleged handling of shoddy mortgages, and at least $5 billion of the settlement amount is expected to go toward consumer relief, the report said, citing the people familiar with the negotiations. It noted a $12 billion fine would exceed the firm's 2013 profit of $11.43 billion.


Technology Select Sector SPDR ETF (XLK) and iShares Dow Jones US Technology ETF (IYW) hit 13-year highs Thursday and are inactive pre-bell; iShares S&P North American Technology ETF (IGM) and iShares S&P North American Technology-Software Index (IGV) and SPDR S&P International Technology Sector ETF (IPK) were flat.

Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) and Semiconductor Sector Index Fund (SOXX) hit record highs Thursday and are unchanged so far pre-market.

In corporate news, Rogers Communications (RCI, RCI-B.TO) subsidiary Rogers Media has expanded its partnership with entertainment content provider NeuLion (NLN.TO) through a new content agreement. Through the partnership, NeuLion will deliver live simulcasts of the Sportsnet channels in PC, smartphones, and tablets. It will provide its TV Everywhere platform for Rogers' seven Sportsnet channels.


Dow Jones U.S. Energy Fund (IYE) and Energy Select Sector SPDR (XLE) are flat pre-bell after hitting records Thursday. XLE showed signs of weakening, slipping afterhours.

Among stocks, Piedmont Natural Gas Company (PNY) has announced fiscal Q2 EPS of $.80, up from $.74 per diluted share for fiscal Q2 2013 and beating analyst estimates of $0.75. Total operating revenue of $462.24 million was up from $399.41 million in fiscal Q2 2013 and beat analyst projections of $427.95 million. The company has reaffirmed its revised fiscal year 2014 earnings guidance of $1.80 to $1.90 per diluted share, with emphasis at the upper end of the range.


Crude was up 0.12%; United States Oil Fund (USO) is flat and showed a slight decline after-hours. Natural gas was up 0.15% and United States Natural Gas Fund (UNG) was up 0.62%.

Gold was leaning into the red and silver was down 0.25%. Among rare metal funds, SPDR Gold Trust (GLD) was tipping lower and iShares Silver Trust (SLV) was up 0.05%.

Health Care

Health Care SPDR (XLV), iShares Dow Jones US Healthcare (IYH) and Vanguard Health Care ETF (VHT) were inactive and all closed higher Thursday. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) gained 0.3% after hours and is quiet so far Friday.

In corporate news, Biotechnology company Advaxis (ADXS) released preliminary data from an ongoing Phase 1 clinical study of its ADXS-cHER2 cancer therapy in dogs with osteosarcoma showing the treatment is able to delay or prevent metastatic disease and significantly prolong overall survival in dogs with osteosarcoma that had minimal residual disease following standard of care.

The company said 80% of the dogs treated were still alive and median survival hadn't yet been reached; the median survival in control dogs was 316 days.

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 All rights reserved. Unauthorized reproduction is strictly prohibited.

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

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