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ETF Preview: Commodities Ease, Telecom Funds Could Find Support on Sprint Deal Speculation
By: Midnight Trader   Monday, September 14, 2009 8:42 AM

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

SPDR S&P 500 (SPY): -0.02%

iShares S&P 500 (IVV): +0.01%

PowerShares QQQ (QQQQ): +0.1%

Select Financial Sector SPDRS (XLF): -0.6%

iShares Russell 2000 (IWM): +0.03%

iShares Russell 1000 Growth (IWF): +0.2%

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

United States Oil Fund (USO): -4.2%

The top ETF volume movers in pre-market action this morning:


SPY, -0.8%

UNG, -6.3%

GLD, -1%

QQQQ, -0.8%

SDS, +1.7%

Winners and Losers


Major market ETFs, including the SPY, DIA, UYG and others, are mostly lower. Broader-market stock trade looks to face carry-over selling pressure from Friday and as global stocks drop. Wall Street's mood was soured by the anniversary of the Lehman Bros. bankruptcy and shaken by a potential trade war with China. Washington imposed stiff tariffs on Chinese-made tires over the weekend. China said it would launch an anti-dumping investigation into U.S. sales of chicken and auto products, according to several news outlets.

SPDR S&P China (GXC), PowerShares Golden Dragon Halter USX China fund (PGJ) and iShares FTSE/Xinhua China 25 Index (FXI) may see increased action as a result of the trade uncertainties.

The PowerShares QQQ (QQQQ), which tracks the technology-studded Nasdaq Composite, is down 0.8% this morning.

Technology Select Sector SPDR (XLK) is flat. iShares U.S. Technology (IYW) should see increased interest closer to the opening bell. iShares S&P North American Technology Semiconductor (IGW) and Semiconductor HOLDRs (SMH) could see increased upside interest closer to the bell. EMC Corp. (EMC) is expected to say it hired Patrick Gelsinger, head of Intel's (INTC) core chip business, to run EMC's storage-product operations and other units, the Wall Street Journal reports. EMC also named Howard Elias, one of its veteran executives, to head its services division, the report said. CEO Joseph Tucci said that Gelsinger, Elias and EMC Chief Financial Officer David Goulden are all candidates to succeed him when he leaves in three years, the Journal reported.

Select Financial Sector SPDRS (XLF) is flat. The Direxion Financial Bull 3X fund (FAS) is down 0.03%; its bearish counterpart, FAZ, is flat. Major banking shares, mortgage firms and insurance shares are lower. President Obama is due to deliver a speech shortly after 12 p.m. ET on the financial crisis.

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The above story is the opinion of the author only and it does not reflect iStockAnalyst opinion. Further, the author is not personally advising you regarding the suitability of the story for your investment needs. In no event iStockAnalyst will be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from or arising out of, or in connection with the use of this information. Please consult your investment advisor before making any investment decision.
  
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