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Mid-Day ETF Update: ETFs, Stocks Jump to Record Highs on Upbeat Nonfarm-Payrolls Data, Unemployment Rate Steady at 6.3%

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

SPDR S&P 500 ( SPY ): +0.51%, hit an all-time high

iShares Russell 2000 Index ( IWM ): +0.39%

iShares MSCI Emerging Markets Index ( EEM ): +1.03%

iPath S&P 500 VIX ST Futures ( VXX ):-4.32%

PowerShares QQQ Trust, Series 1 ( QQQ ): +0.38%, with a 13-year high

Broad Market Indicators

Broad-market exchange-traded funds, including SPY, IWM and IVV were higher and some reached record or multi-year highs. Likewise, actively traded PowerShares QQQ ( QQQ ) was up 0.38%, with a new 13-year high.

U.S. stocks continued to surge, with the S&P 500 and the Dow Jones Industrials Average reaching new record highs after the upbeat jobs data released earlier. The Labor Department said U.S. employers added 217,000 new jobs last month, just slightly above Street estimates. Investors cheered the jobs market recovery to pre-recession levels and continuation of a 6.3% jobless rate versus expectations for a slight increase to 6.4%. Still ahead, the consumer credit data for April will be released at 3 pm ET.

Power Play: Technology

Technology Select Sector SPDR ETF (XLK), iShares Dow Jones US Technology ETF (IYW) and iShares S&P North American Technology ETF (IGM) were higher, and hit multi-year highs; iShares S&P North American Technology-Software Index (IGV) was firmer. SPDR S&P International Technology Sector ETF (IPK) was up 0.86%, with a new record high.

Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) slipped 0.25% while and Semiconductor Sector Index Fund (SOXX) was up 0.42%; both hit record highs.

In corporate news, Rally Software (RALY) was down more than 28% to a record low after it reported that its Q1 sales were $19.4 million, below the Thomson Reuters mean for $19.61 million. Non-GAAP net loss was $0.27 per share, better than forecasts for a $0.50 loss. Q2 sales are seen between $20.2 million to $20.8 million, with a non-GAAP net loss between $0.39 to $0.42. Estimates are for a loss of $0.42 per share, Bloomberg says. Full year sales are seen between $87 million to $90 million and non-GAAP net loss between $1.31 to $1.36. Bloomberg's mean is for a loss of $1.57 per share.

Winners and Losers

Financial

Select Financial Sector SPDRs (XLF) was up 0.71%, reaching multi-year highs. Direxion Daily Financial Bull 3X shares (FAS) was up 1.88%. Its bearish counterpart, FAZ, was down 1.87%, hitting a record low.

Among sector news, Golub Capital BDC,(GBDC) was up 1.22% after it announced on Friday that on June 5, its wholly-owned and consolidated subsidiary, Golub Capital BDC CLO 2014, completed its previously announced $402 million term debt securitization (the CLO). In addition, the company reported that it had decreased the size of its revolving credit facility.

Consumer

Consumer Staples Select Sector SPDR (XLP), iShares Dow Jones US Consumer Goods (IYK), and Vanguard Consumer Staples ETF (VDC) all climbed to record highs.

Retail ETFs SPDR S&P Retail (XRT), Market Vectors Retail ETF (RTH), and PowerShares Dynamic Retail (PMR) were firmer.

Among stocks, Diamond Foods Inc. (DMND) was down 11% after it reported late Thursday Q3 non-GAAP earnings that rose 38% from the prior year to $0.11 a share, missing the consensus forecast of $0.17 tallied by Capital IQ. Q3 net sales rose 3.2% from a year earlier to $190.9 million, compared with the Wall Street consensus of $192 million. A GAAP loss per share of $3.63 was attributed to paying down debt. The company forecast an annual gain in adjusted EBITDA even though higher tree nut commodity costs are adversely affecting part of its business.

Energy

Dow Jones U.S. Energy Fund (IYE) and Energy Select Sector SPDR (XLE) were firmer, reaching record highs.

Among stocks, China Ming Yang Wind Power Group (MY) was up more than 5% after the company said late Thursday that its Jiangsu Mingyang Wind Power Technology unit has won approval to develop and operate a 300MW offshore wind power project in Jiangsu province. The company received approval from the Rudong Energy Bureau in Jiangsu.

Commodities

Crude was up 0.09%; United States Oil Fund (USO) was up 0.19%. Natural gas was up 0.55% and United States Natural Gas Fund (UNG) was up 1.08%.

Gold was down 0.11% and silver was down 0.51%. Among rare metal funds, SPDR Gold Trust (GLD) was up 0.11% and iShares Silver Trust (SLV) was down 0.11%.

Health Care

Health Care SPDR (XLV), iShares Dow Jones US Healthcare (IYH) and Vanguard Health Care ETF (VHT) were higher. Biotech ETF iShares NASDAQ Biotechnology Index (IBB) was up 0.98%.

In corporate news, GW Pharmaceuticals (GWPH) was up 7% after it said the FDA granted Fast Track designation to GW's investigational cannabidiol (CBD) product, Epidiolex, in the treatment of Dravet syndrome, a rare and catastrophic treatment-resistant form of childhood epilepsy. In addition to Dravet syndrome, GW plans to conduct a clinical development program for Epidiolex in the treatment of Lennox-Gastaut syndrome (LGS). Following receipt earlier in 2014 of orphan drug designation by the FDA in LGS, GW expects to hold a pre-IND meeting with the FDA for Epidiolex in the treatment of LGS in mid-2014, and expects to conduct two Phase 3 trials in LGS during 2015.

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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