ETF Preview: ETFs, Futures Mixed to Modestly Higher After Weekly Jobless Claims, Chicago Fed Activity Data

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

VanEck Vectors Gold Miners ETF ( GDX ): +0.9%

Direxion Daily Gold Miners Index Bull 3X Shares ( NUGT ): +2.8%

SPDR S&P 500 ( SPY ): +0.1%

SPDR Select Sector Fund - Financial ( XLF ): +0.04%

iPath S&P 500 VIX Short Term Futures ETN ( VXX ): +0.2%

Broad Market Indicators

Broad-market exchange-traded funds, including SPY, IWM and IVV were inching higher. Actively traded PowerShares QQQ (QQQ) was up 0.1%.

U.S. stock futures were mixed to modestly higher following the report that weekly jobless claims rose 6,000 to 244,000 from a revised 238,000 in the prior week Forecast were for claims to total 237,000. This was still below the 43-low in November.

Oil futures were higher ahead of the U.S. Energy Information Administration 's weekly supply data, as investors are expecting a decline in oil supply.

Meanwhile, the January reading of the Chicago Fed national activity index fell to -0.05, missing the 0.10 expected.

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.

Kohl's (KSS) was up 2.7% after the department store operator reported Q4 adjusted net profit of $1.44 per share, down from $1.58 per share in the prior year period but still came in higher than the $1.33 per share Street estimate provided by Capital IQ. Total sales were $6.21 billion, down from $6.39 billion reported for the same period last year and came in line with the Street estimate. For 2017, the company expects earnings to range from $3.50 to $3.80 per share, straddling the $3.64 estimate, on sales change of down 1.3% to up 0.7%.

Winners and Losers


Select Financial Sector SPDRs ( XLF ) was up 0.04%. Direxion Daily Financial Bull 3X shares (FAS) was up 0.2% while its bearish counterpart, FAZ was flat.

Iron Mountain (IRM) reported Q4 FFO of $0.50 per share, compared with the prior-year period's $0.57 per share. Analysts polled by Capital IQ were expecting FFO of $0.46 per share. Revenue was $934 million, up from $752 million in the same quarter last year. The Street view was for revenue of $937.3 million. The company expects that for fiscal 2017, adjusted FFO will increase 8% to 15% and revenue will grow 8% to 10%.


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 flat.

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

HP (HPQ) was up 1.9% after it reported late Wednesday Q1 non-GAAP earnings of $0.38 per share, a penny better than the analyst consensus on Capital IQ. Revenue was $12.7 billion, vs. expectations of $11.8 billion. For Q2, the company expects non-GAAP EPS in the range of $0.37-$0.40 per share, vs. expectations of $0.38 per share.


Dow Jones U.S. Energy Fund (IYE) was flat and Energy Select Sector SPDR (XLE) was up 0.9% in the pre-market.

Chesapeake Energy (CHK) was up 3% after the company reported Q4 adjusted earnings of $0.07 per share, excluding one-time items, compared with the prior-year period's $0.19 loss per share. Analysts polled by Capital IQ were expecting EPS of $0.06. Revenue was $2.02 billion, down from $2.65 billion in the same quarter last year. The Street view was for revenue of $1.02 billion.

Average daily production for the quarter was 574,500 barrels of oil equivalent (boe) consisting of 90,400 bbls of oil, 2.562 bcf of natural gas and 57,100 bbls of NGL. For Q1, the company expects its average daily production to range between 515,000 and 535,000 boe, of which average daily oil production is expected to range between 80,000 and 85,000 barrels per day.


Crude was up 1.9%. United States Oil Fund (USO) was up 1.9%. Natural gas was up 0.5% while United States Natural Gas Fund (UNG) was up 3.4%.

Gold was up 1.2%. SPDR Gold Trust (GLD) was up 0.7%. Silver was up 1.3% while iShares Silver Trust (SLV) was up 0.8%.

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.

Inovio Pharmaceuticals (INO) was up 8.3% after the company said "significant" immune responses were observed in 100% of Zika-vaccinated subjects and in 98% of MERS-vaccinated human subjects in separate phase 1 studies.

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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