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ETF Preview: ETFs Track Futures Higher as Upbeat July PPI Offset Weak Empire State Manufacturing Data

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

SPDR S&P 500 ( SPY ): +0.47%

iShares S&P 500 ( IVV ): +0.33%

PowerShares QQQ ( QQQ ): +0.52%

iShares Russell 2000 ( IWM ): +0.78%

iShares Russell 1000 Growth ( IWF ): +0.52%

iShares MSCI Emerging Markets Index (EEM): +0.16%

United States Oil Fund (USO): -2.53%

SPDR Gold Shares (GLD): +0.09%

Select Financial Sector SPDRS (XLF): +0.40%

Friday's Pre-Market Movers

SPY, +0.32%

EEM, +0.20%

VXX, -2.08%

GDX, -1.51%

QQQ, +0.40%

Broad Market Indicators

Broad-market exchange-traded funds, including SPY, IWM and IVV, were mostly higher in Friday's pre-market action. Actively traded PowerShares QQQ ( QQQ ) was up 0.4%.

U.S. stock futures were also logging gains ahead of the open following the report that U.S. producer prices in July increased 0.1%, led by services such as transportation and warehousing. The July result signaled low inflation pressure, matching forecasts for a slower price growth following the increase of 0.4% in June. Excluding food, energy and trade, the core producer prices rose 0.2% last month.

Meanwhile, the Empire State manufacturing index had a reading of 14.7 in August, after hitting a four-year high in the previous month. This was below the consensus of a 20.0 reading.

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 gains in the previous session.

NQ Mobile (NQ) was down 11.86% after is announced that CFO KB Teo has resigned, effective Aug 22. Dr. Vincent Wenyong Shi, co-founder and COO, will take over as acting CFO until a replacement is found.

Winners and Losers

Financial

Select Financial Sector SPDRs (XLF) was up 0.35%; Direxion Daily Financial Bull 3X shares (FAS) was up 0.95% and its bearish counterpart, Direxion Daily Financial Bear 3X shares (FAZ), was down 0.68%.

Doral Financial (DRL) was down 3.31% after it reported in a SEC filing it received a subpoena, dated August 1, 2014, from the Securities and Exchange Commission regarding its investigation into the company's filings. Among other matters, the SEC has requested information relating to the company's determination regarding the inclusion of certain tax receivables from the Government of Puerto Rico as Tier 1 capital, the company's allowance for loan and lease losses for the quarter ended September 30, 2013, and Doral Bank's compliance with its Consent Order with the Federal Deposit Insurance Corporation and the Office of the Commissioner of Financial Institutions of Puerto Rico dated August 8, 2012. The scope of the subpoena appears to cover at least one matter related to the company's lawsuit with the Puerto Rico Department of Treasury and not to the company's SEC filings.

Energy

Dow Jones U.S. Energy Fund (IYE) was flat while Energy Select Sector SPDR (XLE) was down 0.06%.

Synergy Resources (SYRG) provided an update of its production and operations at the Wattenberg Field and provided an outlook on production for Q4 ending August 31,2014. The company said horizontal drilling operations and completions are progressing according to plan at the Wattenberg Field. The four Kelly Farms wells are now in early production. The six Eberle wells, which include two mid reach 7,000 foot extended lateral wells with 45-47 frac stages each, are in the final completion stage and are flowing back or in initial production. SYRG said it expects Q4 production to range between 5,800 and 6,200 BOED and that it expects to end the fiscal year at a production rate of between 8,000 and 9,500 BOED.

Commodities

Crude was up 0.13%; natural gas was down 2.14%. United States Oil Fund (USO) was up 0.26%; United States Natural Gas Fund (UNG) was down 2.05%.

Gold was down 0.79%, while silver was down 1.14%. Among rare metal funds, SPDR Gold Trust (GLD) was down 0.66% and iShares Silver Trust (SLV) was down 1.2%.

Consumer

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

Estee Lauder Companies (EL) was up 0.79% after the company reported that Q4 non-GAAP EPS was $0.45, excluding the Venezuela charge and accelerated retailer orders. Excluding the Venezuela charge only, EPS was $0.66 per share. The Thomson Reuters mean, usually less items, was for $0.56. Sales were $2.73 billion, more than estimates for $2.65589 billion. It expects Q1 sales to decrease between 1% and 2% in constant currency.EPS, excluding the effect of the accelerated retailer orders, are projected to be between $0.72 to $0.76. Estimates are for $0.75 per share. FY15 net sales are forecasted to grow between 3% and 4% in constant currency .EPS, excluding the effect of the accelerated retailer orders, are projected to be between $3.10 to $3.20. Estimates are for $3.17 per share.

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 flat.

Achillion Pharmaceuticals (ACHN) was up 19.31% after it reported 100% of patients treated in its Phase 2 proxy study evaluating ACH-3102 remained HCV RNA undetectable four weeks after completing therapy. The data were reported as interim results from its ongoing study of ACH-3102, Achillion's second-generation NS5A inhibitor, in combination with sofosbuvir, without ribavirin, for eight weeks of treatment in a total of 12 patients patients with treatment-naïve genotype 1 chronic hepatitis C virus (HCV) infection. Based upon the interim results, 12 additional patients will begin treatment with six weeks of once daily ACH-3102 and sofosbuvir. The company expects Phase 1 proof-of-concept results with ACH-3422 will be reported during the fall of this year, which is anticipated to lead to the start of a Phase 2 combination program to evaluate its doublet regimen for an eight week, or potentially shorter, treatment regimen for HCV that will begin before the end of 2014.

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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