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ETF Preview: ETFs, Stocks Resume Higher Trading Ahead of JOLTS Data

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

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

SPDR Select Sector Fund - Financial ( XLF ): -0.1%

iShares MSCI Emerging Index Fund ( EEM ): +0.04%

VanEck Vectors Gold Miners ETF ( GDX ): -0.8%

PowerShares QQQ Trust, Series 1 ( QQQ ): +0.1%

Broad Market Indicators

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

US stock futures were on track to open the regular session in positive territory, with the Dow Industrials once again hovering near record levels.

Market sentiment brightened even after the National Federation of Independent Business reported its small-business confidence index showed a dip of 2.6 points to 104.9 in December. Forecasts were for an increase to 107.9. The index, however, had its strongest year on record in 2017.

Looking ahead, the November report on job openings and labor turnover is slated at 10 am ET. Meanwhile Minneapolis Fed President Neel Kashkari will participate in a panel discussion in the Minneapolis headquarters of conglomerate Cargill Inc., also at 10 am ET.

Power Play: Consumer

Consumer Staples Select Sector SPDR (XLP) was up 0.1% and consumer staples funds Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK) were flat.

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 quiet in pre-market trade.

Build-A-Bear Workshop (BBW) fell nearly 7% after it said that it sees fiscal Q4 revenue of $105 million compared to $110.3 million in the same period last year. The Street is at $111.6 million. Consolidated comparable sales are seen declining 7.9%. For the full year ended Dec 30, the company sees revenue of $356 million compared to $364.2 million in fiscal 2016. The Street is at $361.9 million. Consolidated comparable sales are expected to decline 6.5%, more than the 4.2% decline expected by analysts. For fiscal 2018, the company sees revenue in the range of flat to up low single digits compared to 2017 and for diluted earnings per share to rise over 2017.

Winners and Losers

Financial

The Select Financial Sector SPDRs ( XLF ) was down 0.04%. Direxion Daily Financial Bull 3X shares (FAS) and its bearish counterpart FAZ were both inactive.

Home BancShares (HOMB) said the Tax Cut and Jobs Act signed by President Donald Trump Dec. 22 will reduce reported Q4 2017 EPS by $0.22. Home BancShares explained in a press release it "performed a preliminary analysis to determine the impact of the revaluation of the deferred tax asset of approximately $113.5 million." The bank said the reevaluation of the tax asset will result in a one-time non-cash charge to the Q4 income statement of about $36.9 million.

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 flat.

Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) was flat while Semiconductor Sector Index Fund (SOXX) was up 0.3%.

GoPro (GPRO) would be willing to partner with a larger sector player but is not actively engaged in a sale, Reuters reported, citing the company. The company confirmed that it is open to "any opportunity" that would help it "scale our mission." the report said. GPRO shares fell more than 3% in the pre-market session.

Energy

Dow Jones US Energy Fund (IYE) was flat and Energy Select Sector SPDR (XLE) was up 0.2%.

Apache (APA) was down more than 1% after it revised its production outlook to reflect the impact of unscheduled downtime at the third-party operated Forties Pipeline System and the underperformance of recent wells in the Beryl area of the North Sea. The company said its adjusted sales volumes were also lower in Egypt, primarily due to the impact of improving Brent oil prices on the cost recovery mechanisms in Apache's production sharing contracts. As a result of these factors, the company expects fourth-quarter adjusted international production in the range of 138,000 to 140,000 barrels of oil equivalent (BOE) per day and base-level production volumes to be lower than planned going into 2018.

Commodities

Crude was up 0.6%. United States Oil Fund (USO) was up 0.2%. Natural gas was up 2.7% while United States Natural Gas Fund (UNG) was up 3%.

Gold was down 0.3%. SPDR Gold Trust (GLD) was down 0.4%. Silver was down 0.3%, while iShares Silver Trust (SLV) was down 0.6%.

Health Care

Health Care SPDR (XLV), Vanguard Health Care ETF (VHT) and iShares Dow Jones US Healthcare (IYH) were quiet. Biotechnology fund iShares NASDAQ Biotechnology Index (IBB) was up 0.3%.

Genetic Technologies Ltd (GENE) rose 16% after it said that it received a notification from Nasdaq that its minimum closing bid price per share was $1.00 or above for a period of ten consecutive business days from Dec. 20 to Jan. 4, and has therefore regained compliance with Nasdaq listing rules.

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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