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ETF Preview: Broad Market ETFs Mixed; Gold Funds Declining

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

SPDR S&P 500 ( SPY ): -0.2%, shy of 52 week highs.

iShares MSCI Emerging Markets Index ( EEM ): -0.2%.

iShares Russell 2000 Index ( IWM ): -0.75%.

PowerShares QQQ Trust, Series 1 ( QQQ ): -0.02%, but near 52-week highs.

iPath S&P 500 VIX Short Term Futures ( VXX ): +0.6%.

Pre-Market Movers

NUGT -1.1%

FXI -2%

GDXJ -1.2%

UDOW -1.2%

EWW -0.96%

Broad Market Indicators

Many broad-market exchange-traded funds, including SPY, IWM, IVV and others, are mixed this morning after a weaker session on Tuesday. Actively traded PowerShares QQQ ( QQQ ), is leaning higher. Gold funds are among the worse performers this morning, giving up yesterday's gains.

U.S. stock futures are pointing to a slightly lower open, despite a deal in Washington over the U.S. budget. Congressional negotiators yesterday agreed to a package that will reduce the deficit by $20 billion to $23 billion.

Power Play: Commodities

Crude was down 0.04% and natural gas was down 1.27%. United States Oil Fund (USO) is down 0.06%; United States Natural Gas Fund (UNG) was down 1.2%.

Gold is down 0.5% and SPDR Gold Trust (GLD) is down 0.76%%. Likewise, silver has fallen 0.17%, while iShares Silver Trust (SLV) is down 0.5%.

Winners and Losers

Consumer

Consumer Staples Select Sector SPDR (XLP), iShares Dow Jones US Consumer Goods (IYK) and Vanguard Consumer Staples ETF (VDC) are all unchanged after declining Tuesday.

Among stocks, Analysts at Wells Fargo have upgraded their coverage of Groupon Inc. (GRPN) to Outperform from Market Perform. The firm also more than doubled its price target range to $13-$14 from $5-$6. The shares are gaining 3.6% pre-market.

Financial

Select Financial Sector SPDRs (XLF) is flat. Direxion Daily Financial Bull 3X shares (FAS) is up 0.12%. Its bearish counterpart, FAZ, has dipped 0.04%.

In sector news, NorthStar Realty (NRF) jumped more than 19% in pre-market trade after saying late yesterday it plans to spin off its asset management business into a separate publicly traded company in the form of a tax-free distribution. The distribution is expected to be completed in the second quarter of 2014 and will be comprised of common stock in NorthStar Asset Management, a newly formed company expected to be listed on the New York Stock Exchange.

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) are quiet pre-market after closing mainly lower yesterday.

Likewise, semiconductor funds, such as ETFs SPDR S&P Semiconductor (XSD), Semiconductor Sector Index Fund (SOXX) and SPDR S&P International Technology Sector ETF (IPK) were also unchanged.

In sector news, Cisco (CSCO) is lower this morning after Citigroup started new coverage on the shares with a Sell rating and an $18 per share price target.

Energy

Dow Jones U.S. Energy Fund (IYE) is flat and Energy Select Sector SPDR (XLE) is nudging higher, up 0.07%. Both are at the high end of their 52 week ranges.

In sector news, Oil well site services provider Basic Energy Services, Inc. (BAS) reported Wednesday operating data for the month of November 2013 and its revenue guidance for Q4. BAS said well servicing rig count remained unchanged at 425, with 60,500 hours of producing a rig utilization rate of 62%. Rig utilization rate was 71% for October 2013 and 62% for November 2012.

Healthcare

Health Care SPDR (XLV) and other healthcare funds Vanguard Health Care ETF (VHT), iShares Dow Jones US Healthcare (IYH) are flat pre-market after closing weaker on Tuesday. They are all near their 52-week highs. iShares NASDAQ Biotechnology Index (IBB) is also unchanged.

Among stocks, Spectrum Pharmaceuticals (SPPI) is up 10.22% at $10.35 in pre-market trading after the company reported encouraging clinical data from investigator-sponsored studies of MARQIBO (vinCRIStine sulfate LIPOSOME injection) and FOLOTYN (pralatrexate injection).

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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