ETF Preview: ETFs, Futures Higher Following Fischer Comments

Active broad-market exchange-traded funds at the close of Friday's regular session:

SPDR S&P 500 ( SPY ): +1.18%

iShares S&P 500 ( IVV ): +1.15%

PowerShares QQQ ( QQQ ): +0.72%

iShares Russell 2000 ( IWM ): +0.97%

iShares Russell 1000 Growth ( IWF ): +1.04%

iShares MSCI Emerging Markets Index (EEM): +0.90%

United States Oil Fund (USO): -0.11%

SPDR Gold Shares (GLD): +0.01%

Select Financial Sector SPDRS (XLF): +0.99%

Monday's Pre-Market Movers

SPY, +0.411%

VXX, +0.51%

EEM, +0.37%

XLF, +0.31%

QQQ, +0.39%

Broad Market Indicators

Broad-market exchange-traded funds, including SPY, IWM and IVV, were firmer in Monday's pre-market trading . Actively traded PowerShares QQQ ( QQQ ) was up 0.4%.

Market sentiment brightened following comments from Federal Reserve Vice Chairman Stanley Fischer, who was speaking at a conference in Stockholm. Fischer noted advanced economies around the world have slipped into recession and although the impact on the U.S.economy is still unclear, long-term expectations on economic growth have been reduced. Fischer's comments hint that monetary policy may still be needed to help the economy.

No economic data are scheduled for release Monday.

Power Play: 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 inactive. SPDR S&P International Technology Sector ETF (IPK) was also flat.

Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) and Semiconductor Sector Index Fund (SOXX) were unchanged after posting losses in the previous session.

Microsoft (MSFT) was up 0.5% after it unveiled Monday the Nokia 130, which is a new, ultra-affordable mobile phone with music and video playback that is designed "to introduce millions of people to new digital experiences." The phone will retail for EUR 19 ($25) and it will be available in select markets including China, Egypt, India, Indonesia, Kenya, Nigeria, Pakistan, the Philippines and Vietnam starting in Q3 2014.

Winners and Losers


Select Financial Sector SPDRs (XLF) was up 0.27%; Direxion Daily Financial Bull 3X shares (FAS) was up 0.95% and its bearish counterpart, Direxion Daily Financial Bear 3X shares (FAZ), was down 1.36%.

Ladenburg Thalmann Financial Services (LTS) reported Q2 sales were $220.8 million, more than the Thomson Reuters mean for $210.89 million. Net loss was at breakeven per share, better than the $0.04 loss a year ago.


Dow Jones U.S. Energy Fund (IYE) was flat while Energy Select Sector SPDR (XLE) was up 0.38%.

Yingli Green Energy Holding Company (YGE) was up 3.9%, after announcing that its unit Yingli Green Energy Spain, S.L.U. has signed a 31.6 MW supply agreement with Gestamp Solar, a leading Spanish developer and operator of utility-scale PV systems for a solar power plant in Daigo, Japan. YGE will deliver more than 125,000 multicyrstalline YGE 60 Cell Series modules to Gestamp Solar from October 2014 to February 2015.


Crude was up 0.1%; natural gas was up 0.7%. United States Oil Fund (USO) was up 0.2%; United States Natural Gas Fund (UNG) was flat.

Gold was down 0.1%, and silver was up 0.3%. Among rare metal funds, SPDR Gold Trust (GLD) was down 0.3% and iShares Silver Trust (SLV) was down 0.1%.


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

Retail ETFs SPDR S&P Retail (XRT), PowerShares Dynamic Retail (PMR), and Market Vectors Retail ETF (RTH) were also unchanged. (PCLN) was down 1.2% in Monday's pre-market trading after beating Q2 earnings estimates, coming in shy on sales, and setting Q3 earnings guidance just below expectations. PCLN demonstrates an aggressive tendency to widen its next day share movement following an extended-hours earnings releas

Health Care

Health Care SPDR (XLV), iShares Dow Jones US Healthcare (IYH) and Vanguard Health Care ETF (VHT) were unchanged. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) was up 0.31%.

Novartis AG (NVS) said new data revealing the reduction in cardiovascular deaths with LCZ696 in patients with heart failure with reduced ejection fraction or HF-REF will be presented at the European Society of Cardiology Congress 2014, on Aug. 31. The data will also be highlighted in the official ESC press conference on August 30. The study met the primary endpoint showing LCZ696 reduced heart failure hospitalizations along with cardiovascular deaths.

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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