ETF Preview: ETFs, Futures Higher As Wall Street Sets Trump Fears Aside; Advance Services Data, Bullard Speech Still Ahead

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

iShares MSCI Brazil Capped Index Fund ( EWZ ): +4.8%

iPath S&P 500 VIX Short Term Futures ETN ( VXX ): -3.2%

iShares MSCI Emerging Index Fund ( EEM ): +1.5%

SPDR Select Sector Fund - Financial ( XLF ): +0.2%

SPDR S&P 500 ( SPY ): +0.2%

Broad Market Indicators

Broad-market exchange-traded funds, including SPY, IWM and IVV were weaker. Actively traded PowerShares QQQ (QQQ) was up 0.4%.

U.S. stock futures were in positive territory as markets had a breather from political news. Investors instead will be able to focus on the lone economic data on tap - the Q1 advance-services report, due 10 a.m. ET.

At 9:15 a.m. ET, St. Louis Fed President James Bullard will be giving a speech at the Association for Corporate Growth at Washington University in St. Louis.

Power Play: Consumer

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

Consumer Discretionary Select Sector SPDR (XLY) and retail funds SPDR S&P Retail (XRT), PowerShares Dynamic Retail (PMR) and Market Vectors Retail ETF (RTH) were also flat.

Campbell Soup Company (CPB) was down 4.3% after it reported fiscal Q3 EPS of $0.59, versus $0.65 last year, missing the $0.64 Capital IQ estimate. Revenue for the quarter, which ended April 30, was $1.85 billion, as compared to $1.87 billion for the year-ago period. This also fell short of the consensus, which was for revenue of $1.87 billion. It is raising its full-year EPS guidance. Adjusted EPS is seen increasing by 3%-5% to $3.04 to $3.09, versus 2%-5% previously to $3.00 to $3.09. The Street is at full-year EPS of $3.06.

Winners and Losers


Select Financial Sector SPDRs ( XLF ) was up 0.2%. Direxion Daily Financial Bull 3X shares (FAS) was up 1.1% and its bearish counterpart, FAZ was down 0.9%.

Blackstone Group (BX) was up 0.7% following a report in The Times of India that said the company has submitted a bid for the assets of Urban Infrastructure Opportunities Fund, a $150 million fund in India that was founded by Jai Corp. chairman Anand Jain. Sources cited in the report said the private equity firm will proceed with a deal once it receives approval from 51% of holders of the fund. 60% of the fund is held by high net worth individuals and the remaining 40% is held by Anand Jain and domestic financial institutions, the report added.


Tech funds 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 quiet in pre-market trading . 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 flat.

eMagin (EMAN) was down 8% after it priced a $6.6 million stock and warrant offering at $2.00 per share and associated warrant. eMagin said the offering was of 3.30 million common shares with attached warrants for up to 1.65 million shares, and were sold to a institutional investor and to Stillwater, an affiliate. The warrants have an exercise price of $2.45 per share of common stock, and a term of five years, eMagin said the offering raised $6.6 million before expenses, and that it intends to use proceeds for working capital and general corporate purposes.


Dow Jones U.S. Energy Fund (IYE) was flat and Energy Select Sector SPDR (XLE) was up 0.5%.

Exxon Mobil (XOM) was up 0.4% as Reuters reported that proxy adviser Institutional Shareholder Services (ISS) has recommended the company's investors vote against the pay of its top executives. A report seen by Reuters sent by ISS on Thursday evening questioned if pay awards are strongly linked to performance. ISS also recommended votes in favor of a shareholder resolution requesting Exxon to provide more information on the impact that climate change regulation could have on its business, Reuters reported, adding that ISS supported all of Exxon's directors up for election.


Crude was up 1.4%. United States Oil Fund (USO) was up 1.4%. Natural gas was up 0.8% while United States Natural Gas Fund (UNG) was up 0.3%.

Gold was up 0.1%. SPDR Gold Trust (GLD) was up 0.4%. Silver was up 0.9% while iShares Silver Trust (SLV) was up 1.5%.

Health Care

Health care funds Health Care SPDR (XLV), Vanguard Health Care ETF (VHT) and iShares Dow Jones US Healthcare (IYH) were flat. Biotechnology fund iShares NASDAQ Biotechnology Index (IBB) was flat.

Amicus Therapeutics (FOLD) was up 3.6% after the company said it has completed a plan to analyze primary endpoints in the phase 3 study of its topical medicine for epidermolysis bullosa, a group of skin diseases that cause the skin to blister, and is on track to report top-line data in Q3. The endpoint of "time to wound closure within 3 months" will be analyzed first, the company said. If the difference between SD-101 6% and placebo is statistically significant the study will be considered a success. If the first endpoint is statistically significant, then "proportion of patients with target wound closure at month 3" will be analyzed.

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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