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ETF Preview: Broad Market ETFs Fall in Line With Futures: Oil ETFs Underperform As Oil Price Slumps

Pre-Market Movers Monday:

GASL -10%

RUSL -9.4%

UCO -5.5%

RUSS +9%

TVIX +6%

Broad Market Indicators

Broad-market exchange-traded funds, including SPY, IWM and IVV were weaker pre-market. Actively-traded PowerShares QQQ ( QQQ ) fell 0.3%.

U.S. stock futures are pointing to a lower open in thin holiday trading as crude oil continues to slump. The U.S. benchmark WTI crude contract dropped to below $37 a barrel, with no end in sight to the current over supply in the oil markets. Retail stocks may provide some focus Monday, with Mastercard Advisors Spending Pulse estimating that holiday sales were up 7.9%, driven by online purchases, furniture and women's clothing, while Amazon ( AMZN ) also reported strong demand, with sales of devices gaining and its Canadian arm seeing record shipments.

Power Play: Commodities

Crude fell 3.1% to $36.94 a barrel. United States Oil Fund ( USO ) fell 2.8%. Natural gas was up 0.5%. United States Natural Gas Fund ( UNG ) was up 2.8%. Gold fell 0.4% and SPDR Gold Trust ( GLD ) fell 0.5%. Silver was up 0.7% and iShares Silver Trust (SLV) dropped 2.3%.

Winners and Losers

Financial

Select Financial Sector SPDRs (XLF) fell 0.4%. Direxion Daily Financial Bull 3X shares (FAS) dropped 1.1%; Direxion Daily Financial Bear 3X Shares (FAZ) was inactive.

Technology

Technology Select Sector SPDR ETF (XLK), 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 all inactive after a mixed close Thursday. Meanwhile, SPDR S&P International Technology Sector ETF (IPK) was also flat.

Semiconductor ETFs, SPDR S&P Semiconductor (XSD) and Semiconductor Sector Index Fund (SOXX) were also unchanged and closed higher Thursday.

Fitbit (FIT) rallies 6% in pre-market trade amid positive buzz around the company's sales this holiday.

The wearable maker shot to the top of Apple's (AAPL) free app chart in the United States as of the afternoon of Dec. 25, suggesting that many people were setting up new devices.

Every day into December so far, Fitbit has been the most downloaded health and fitness iOS app, according to data from mobile analytics firm App Annie. But Christmas day marks the first time it topped Apple's rankings of free iOS apps, jumping 20 spots from Christmas Eve, the note said.

Energy

Dow Jones U.S. Energy Fund (IYE) was flat and Energy Select Sector SPDR (XLE) was down 1.1%.

Coverage of energy company SM Energy Company (SM) has been initiated by Cantor Fitzgerald with a hold rating. Price target information was not available.

Consumer

Consumer Staples Select Sector SPDR (XLP) edged up 0.1%, iShares Dow Jones US Consumer Goods (IYK), and Vanguard Consumer Staples ETF (VDC) were flat.

Consumer Discretionary Select Sector SPDR (XLY) slipped 0.2%, SPDR S&P Retail (XRT) gained 0.2%, PowerShares Dynamic Retail (PMR) and Market Vectors Retail ETF (RTH) were unchanged after a weaker close.

Iconix Brand Group (ICON) slides 12% after the company says it received a formal order of investigation from the Staff of the SEC and intends to fully cooperate with the SEC.

It says it is currently in a comment letter process with the Staff of the SEC related to the accounting treatment for the formation of certain joint ventures. Additionally, the company formed a Special Committee of the Board of Directors to conduct a review of the accounting treatment related to certain of the company's transactions.

It also says it is currently in active discussions with potential lenders and continues to expect to be in a position to refinance its 2016 convertible notes.

Health Care

Health Care SPDR (XLV) fell 1%, iShares Dow Jones US Healthcare (IYH) and Vanguard Health Care ETF (VHT) were flat. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) was leaning into the red.

Chimerix (CMRX) stocks are down more than 75% after the biopharmaceutical company said its Phase 3 SUPPRESS trial of brincidofovir in hematopoietic cell transplantation patients did not achieve its primary endpoint for the prevention of cytomegalovirus infection through Week 24 after transplant.

Chimerix said fewer patients in the brincidofovir arm had a CMV infection through Week 14, consistent with Phase 2 study results. However, during the 10 weeks off treatment from Week 14 to Week 24, there was an increase in CMV infections in the brincidofovir arm compared to the control arm. There was also a non-statistically significant increase in mortality in the brincidofovir arm compared to the control arm.

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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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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