ETF Update: ETFs, Futures Point Higher Following Import, Export Prices: Consumer Sentiment Data Still Ahead

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

SPDR Select Sector Fund - Financial ( XLF ): +0.4%

VanEck Vectors Gold Miners ETF ( GDX ): -0.7%

Direxion Daily Gold Miners Index Bull 3X Shares ( NUGT ): -2.3%

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

Direxion Daily Junior Gold Miners Index Bull 3X Shares ( JNUG ): -2.1%

Broad Market Indicators

Broad-market exchange-traded funds, including SPY, IWM and IVV were higher. Actively traded PowerShares QQQ (QQQ) was up 0.2%.

U.S. stock futures were in positive territory, continuing gains from the previous session that were sparked by President Donald Trump's comments on possible tax cuts and easing of business regulations.

Market sentiment was also brightened by the report that import prices rose 0.4% in January, after a revised 0.5% increase in December. Excluding fuel, import prices fell 0.2% last month. The price of goods exported, meanwhile, rose 0.1% in January.

Looking ahead, the February reading of the consumer sentiment index will be reported at 10 am ET. The federal budget for January will be released at 2 pm ET.

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.

Sears Holdings (SHLD) surged 46.2% after the retailer said it launched a restructuring program that aims to deliver at least $1 billion in annualized cost savings in 2017. The company added it plans to lower outstanding debt and pension obligations by at least $1.5 billion in fiscal 2017 by improving profitability and via proceeds from recent transactions and working capital management. Sears also said it expects Q4 revenues of $6.1 billion, above the $5.68 billion average of two analysts polled by Capital IQ. It also expects a Q4 net loss of between $535 million to $635 million, compared to a net loss of $580 million in the year-ago quarter. Sears said Q4 comparable store sales fell 10.3%, with an 8% decrease at Kmart and a 12.3% drop at Sears Domestic.

Winners and Losers


Select Financial Sector SPDRs ( XLF ) was up 0.4%. Direxion Daily Financial Bull 3X shares (FAS) was up 1.1% and its bearish counterpart, FAZ was down 0.8%.

The Blackstone Group L.P (BX) has agreed to acquire Aon Plc's (AON) employee benefits outsourcing business for around $4.8 billion, Reuters reported, citing unnamed people with knowledge of the matter. The business processes work benefits for 15% of the U.S. population, the report said.


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.

Nokia (NOK) said Friday said that together with Three UK, it will deploy the world's first fully integrated cloud native core network. The cloud core network in U.K. will add key flexibility for delivery of data and voice services. The deployment will include Nokia AirFrame data center, IP routing and network management, and Nokia CloudBand, among others. Meanwhile, the company has also launched the worldwide internet of things network grid, which provides connectivity, subscription and device management, and security and analytics.


Dow Jones U.S. Energy Fund (IYE) was flat while Energy Select Sector SPDR (XLE) was up 0.7% in pre-market trade.

Buckeye Partners L.P (BPL) reported Q4 net profit from continuing operations of $0.78 per share, down from $1.03 per share in the prior year period and came in lower than the $1.03 per share Street estimate provided by Capital IQ. Total revenues were $924.1 million, up from $840.2 million reported for the same period last year and came in higher than the $860.2 million Street estimate.


Crude was up 1.6%. United States Oil Fund (USO) was up 1.5%. Natural gas was down 3.8% while United States Natural Gas Fund (UNG) was down 2.2%.

Gold was down 0.8%. SPDR Gold Trust (GLD) was down 0.3%. Silver was down 0.6% while iShares Silver Trust (SLV) was down 0.2%.

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 down 0.2%.

Immunomedics (IMMU) was up 10.5% after it said it has postponed its Annual Meeting of Stockholders which was scheduled for Feb.16 to March 3. This comes after the company announced it entered into an exclusive global licensing agreement with Seattle Genetics, Inc. (SGEN) in a transaction with potential payments of up to $2 billion, plus double-digit tiered royalties on global net sales. Immunomedics says its board believes that before voting at the Annual Meeting, it is important that the modified "go-shop" period is completed and that stockholders have the opportunity to carefully consider the value created by the transaction with Seattle Genetics.

In addition, the company said the board believes that it is particularly important for stockholders to consider the full details of the transaction with Seattle Genetics because they will be asked to vote on a proposal to increase the authorized share capital of the company. If approved by stockholders, the increase in authorized shares would allow Immunomedics to issue and sell approximately 8.6 million shares of common stock to Seattle Genetics as contemplated under the warrant.

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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