Mid-Day ETF Update: ETFs, U.S. Stocks Extend Days for Seventh Straight Session as Street Digests Data on Consumer Sentiment, Import and Export Prices

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

iShares MSCI Emerging Index Fund ( EEM ):-0.2%

SPDR S&P 500 ( SPY ): +0.2%

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

iShares China Large-Cap ETF ( FXI ): +0.2%

VanEck Vectors Gold Miners ETF ( GDX ): +0.1%

Broad Market Indicators

Broad-market exchange-traded funds, including SPY, IWM and IVV were higher. Actively traded PowerShares QQQ (QQQ) was up 0.9%.

U.S. stocks were higher for the seventh straight session, but a slight decline in some technology stocks have kept broad gains in check. Consumer sentiment, which remained steady from last month, as well as lower bond yields and a weaker U.S. dollar, also helped prop up stocks.

Consumer sentiment was unchanged month-to-month, and mostly in line with expectations, the University of Michigan Survey of Consumer Sentiment showed. The index stayed at a 98.8 reading this month, unchanged from last month but up from 97.1 in May of 2017, the report said. The current economic conditions reading was at 113.3, down from 114.9 in April but up from 111.7 a year earlier.

Earlier, the government reported the import price index rose 0.3% in April driven by higher oil costs. This was softer than forecasts for a 0.5% gain. Excluding fuel, import prices rose 0.2% last month. Meanwhile, export prices rose 0.6% versus the 0.3% consensus

Power Play: Health Care

Health Care SPDR (XLV) was up 0.4% and other health care funds Vanguard Health Care ETF (VHT) and iShares Dow Jones US Healthcare (IYH) were higher. Biotechnology fund iShares NASDAQ Biotechnology Index (IBB) was up 1%.

IsoRay (ISR) shares surged 31% after the company announced the upcoming release of its Build-Blu delivery system for real-time prostrate brachytherapy. Build-Blu allows doctors to affordably build custom-configured strands with Cesium-131 in the operating room and individualize the procedure to the patient's anatomy in real time. This new product will provide an alternative solution to the approximately 25% of treatment facilities for the prostate market that are using intra-operative techniques.

Winners and Losers


The Select Financial Sector SPDRs ( XLF ) was down 0.02%. Direxion Daily Financial Bull 3X shares (FAS) was up 0.3% and its bearish counterpart Direxion Daily Financial Bear 3X shares (FAZ) was down 0.1%.

Patriot National Bancorp (PNBK), the parent company of Patriot Bank, completed its acquisition of Prime Bank on Thursday, which added a second branch in New Haven County to its network. This brought its total branch and ITM kiosk count to 11 and total assets to $928 million, on a pro forma basis as of March 31. Shares rose nearly 4%.


Technology Select Sector SPDR ETF (XLK) was down 0.02% while other tech funds 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 lower.

Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) was down 1.3% and Semiconductor Sector Index Fund (SOXX) was down 0.7%.

Presidio (PSDO) shares fell some 15% after the company reported late Thursday mixed financial results for fiscal Q3, and lowered its full year guidance on revenue and earnings. Proforma diluted EPS was $0.28 in Q3, flat from a year earlier and in line with analysts' estimates in a Capital IQ poll. Revenue for the quarter ended March 31 rose 5.8% to $665.1 million from a year ago, but still lagging the $695 million estimate. For 2018, the company said it now expects revenue growth to be in the low single-digit range, against growth of 5.5% previously, and proforma diluted EPS to grow in the mid to high single-digit range, compared with prior guidance of low double-digit growth. The Street expects revenue growth of 3.5%.


Dow Jones US Energy Fund (IYE) was up 0.2% and Energy Select Sector SPDR (XLE) was up 0.5%.

Obsidian Energy (OBE) fell more than 1% after the firm reported a Q1 loss of $0.13 per share, compared with the prior-year period's $0.05 earnings per share. Analysts polled by Capital IQ were expecting $0.08 loss per share.

Q1 production averaged 29,443 boe per day, a decrease of 6% relative to the prior quarter.


Crude was down 0.7%. United States Oil Fund (USO) was down 0.5%. Natural gas was down 0.1% while United States Natural Gas Fund (UNG) was up 0.3%.

Gold was up 0.02%. SPDR Gold Trust (GLD) was up 0.1%. Silver was up 0.1%, while iShares Silver Trust (SLV) was flat..


Consumer Staples Select Sector SPDR (XLP) was down 0.1% and other funds Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK) were weaker.

Consumer Discretionary Select Sector SPDR (XLY) was up 0.3% and retail funds SPDR S&P Retail (XRT), PowerShares Dynamic Retail (PMR) and Market Vectors Retail ETF (RTH) were in positive territory.

GameStop (GME) shares fell some 4% after the company said it has appointed Daniel DeMatteo as interim chief executive officer following the resignation of Michael Mauler for personal reasons, effective immediately. DeMatteo, one of the company's co-founders, will continue to serve as executive chairman and director. In the past, DeMatteo has served as the company's chief executive officer and in a variety of board and executive roles since November 1996. The company said it will search for a permanent CEO.

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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