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ETF Preview: ETFs, Futures Inch Higher as Markets Bounce Back After Christmas Break

Active broad-market exchange-traded funds ahead of Wednesday's regular session:

SPDR S&P 500 ( SPY ): +0.5%

SPDR Select Sector Fund - Financial ( XLF ): +0.5%

Invesco QQQ Trust, Series 1 ( QQQ ): +0.7%

iShares MSCI Emerging Index Fund ( EEM ): +0.2%

VanEck Vectors Gold Miners ETF ( GDX ): +0.5%

Broad Market Indicators

Broad-market exchange-traded funds, including IWM and IVV were higher. Actively traded PowerShares QQQ ( QQQ ) was up 0.6%.

US stock futures were edging higher ahead of the opening bell as traders returned from the Christmas holiday break and assessed President Trump's comments that he was confident in Treasury Secretary Steven Mnuchin and in the American economy.

In data, the S&P Corelogic Case-Shiller index for October rose an as-expected 0.4% following a revised 0.7% gain in the previous month.

At 10 am ET, the Richmond Fed manufacturing index is expected to come in unchanged at 14 for December.

Power Play: Health Care

Health Care SPDR (XLV) and other health care funds including Vanguard Health Care ETF (VHT) and iShares Dow Jones U.S. Healthcare (IYH) were flat in pre-market trade. Biotechnology fund iShares NASDAQ Biotechnology Index (IBB) was up 0.1%.

Capricor Therapeutics (CAPR) fell 2% after it said in a regulatory filing that it has put its HOPE-2 clinical trial on a voluntary dosing hold pending an ongoing safety review after a patient experienced a severe allergic reaction after being infused with a blinded investigational product for treating advanced stages of Duchenne muscular dystrophy. The biotechnology firm said that the patient responded well to medical treatment and is currently asymptomatic. It also alerted the US Food and Drug Administration about this issue and is working closely with the agency on a mitigation plan.

Winners and Losers

Financial

The Select Financial Sector SPDRs ( XLF ) was up 0.5%. Direxion Daily Financial Bull 3X shares (FAS) was up 2% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was down 1.7% in pre-market trade.

Mitsubishi UFJ Financial Group (MUFG) said pre-market Wednesday that it has named Kanetsugu Mike as the bank's new CEO, succeeding Nobuyuki Hirano, who will transition to the role of chairman effective April 1. The Japanese lender also appointed Hironori Kamezawa as deputy president.

Technology

Technology Select Sector SPDR ETF (XLK) was up 0.7% and other tech funds iShares Dow Jones US Technology ETF (IYW) and iShares S&P North American Technology ETF (IGM) were inactive.

Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) and Semiconductor Sector Index Fund (SOXX) were both flat.

JD.com's (JD) ADRs rose by nearly 3% after the company announced a share buyback program of up to $1 billion over the next 12 months. The repurchases may be made from time to time at prevailing market prices, through open market or privately negotiated transactions and any other legal means. JD.com plans to fund the buybacks using its existing cash balance.

Energy

Dow Jones US Energy Fund (IYE) was inactive and Energy Select Sector SPDR (XLE) was up 0.3% in pre-market trade.

GasLog (GLOG) said that Cheniere Marketing International LLP has exercised its option for two new charter party agreements, each for a firm period of seven years. The initial charter party agreements were announced back in August. To fulfill the charters, two LNG carriers have been ordered from Samsung Heavy Industries in South Korea.

Commodities

Crude was up 1.3%. United States Oil Fund (USO) was down 2.7%. Natural gas was down 2.4% while the United States Natural Gas Fund (UNG) was down 6.1%.

Gold was up 0.3%. SPDR Gold Trust (GLD) was up 0.2%. Silver was up 0.7%, while iShares Silver Trust (SLV) was up 0.6%

Consumer

Consumer Staples Select Sector SPDR (XLP) was up 0.6% and Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones U.S. Consumer Goods (IYK) were inactive.

Consumer Discretionary Select Sector SPDR (XLY) and retail funds SPDR S&P Retail (XRT) and Market Vectors Retail ETF (RTH) were quiet in pre-market trade.

Amazon.com (AMZN) rose more than 1% after it said sales reached their highest-ever this holiday season with its Echo Dot, the Glam Glitter Series Doll and Carhartt items among products that led the way. Without releasing specific numbers, Amazon said customers purchased "millions" of Amazon Fire TV, Fire Table and Kindle products during the holiday season. Ring and Blink sales reached records, according to the statement. The Smart Plug, TP-Link Kasa Smart Plug Mini Outlet and the iRobot Roomba 690 also were big sellers.

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 MTNewswires.com. 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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