Mid-Day ETf Update: ETFs, Futures Reverse Gains and Sink to Negative Territory As Jobs Data Optimism Fades

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Active broad-market exchange-traded funds in Monday's regular session:

SPDR S&P 500 ( SPY ): +0.03%

iShares MSCI Emerging Index Fund ( EEM ): +0.1%

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

PowerShares QQQ Trust, Series 1 ( QQQ ):+0.6%

iPath S&P 500 VIX Short Term Futures TM ETN ( VXX ): +3.4%

Broad Market Indicators

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

U.S. stocks reversed earlier gains to trade lower at session's half, as lingering optimism following Friday's friendly labor market data dissipated. Earlier, signs of limited wage inflation, watered-down trade tariffs and a warmer relationship between the U.S. and North Korea helped buoy stocks. But losses in the industrial sector, particularly from Dow component stock Boeing (BA) weighed on market sentiment.

No major economic data releases are set for Monday, with only the Federal budget for February due for release at 2 pm ET.

Looking ahead for the rest of the week, data on consumer prices and core CPI will be reported on Tuesday; retail sales, the producer price index and business inventories on Wednesday; and weekly jobless claims and the import price index, among others, on Thursday. Friday will see the most economic data releases, with data on housing starts, building permits, industrial production, capacity utilization, consumer sentiment all on tap.

Power Play: Energy

Dow Jones US Energy Fund (IYE) was down 0.03% and Energy Select Sector SPDR (XLE) was down 0.04%.

Stone Energy (SGY) rose nearly 6% after the company posted GAAP earnings of $0.85 per share, compared with the prior-year period's $20.76 loss per share. Revenue was $76.3 million, down from $113.1 million in the same quarter last year.

Winners and Losers


The Select Financial Sector SPDRs ( XLF ) was down 0.3%. Direxion Daily Financial Bull 3X shares (FAS) was down 0.4% and its bearish counterpart Direxion Daily Financial Bear 3X shares (FAZ) was up 0.4%.

Meta Financial Group (CASH) rose more than 2% after the company said it has secured a 10-year renewal of its support deal with Money Network Financial, a subsidiary of First Data (FDC). MetaBank supports a range of Money Network payment programs, including Money Network Electronic Payment Delivery Service.


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 firmer, with most funds reaching or nearing multi-year highs. Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) was up 1.3% and Semiconductor Sector Index Fund (SOXX) was up 1.3%.

Apple (AAPL) rose more than 1% after the tech giant said it has agreed to acquire Texture, Next Issue Media's digital magazine subscription service, which gives users unlimited access to their favorite titles for one monthly subscription fee, the maker of iPhones said on Monday on its website, without disclosing the price. Launched in 2010, Texture provides its subscribers access to 200 of the world's best magazines, Apple said.


Crude was down 1.3%. United States Oil Fund (USO) was down 1.4%. Natural gas was up 2.3% while United States Natural Gas Fund (UNG) was up 2.2%.

Gold was up 0.4%. SPDR Gold Trust (GLD) was down 0.4%. Silver was down 0.7%, while iShares Silver Trust (SLV) was up 0.6%.

Health Care

Health care funds Health Care SPDR (XLV), Vanguard Health Care ETF (VHT) and iShares Dow Jones U.S. Healthcare (IYH), were weaker. Biotechnology fund iShares NASDAQ Biotechnology Index (IBB) was up 0.3%.

Savara (SVRA) sank nearly 5% after the early-stage pharmaceuticals company Sunday said its Aironite drug candidate failed to meet its primary or secondary endpoints of symptom relief during phase II testing in patients with heart failure with preserved ejection fraction.


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

Likewise, 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 in the green.

Coca-Cola European Partners (CCE) rose more than 1% after the company said it has initiated offers to exchange three series of its outstanding notes in exchange for newly issued notes. The exchange offer covers the company's 3.5% notes due 2020, 3.25% notes due 2021, and 4.5% notes due 2021 for an exchange consideration of $970 principal amount of new notes plus $1.50 in cash for each $1,000 principal amount of old notes. The exchange offer will expire on April 9.

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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