Energy Dow Jones U.S. Energy Fund (IYE) and Energy Select Sector SPDR (XLE) were both flat in pre-market trading. InterOil (IOC) reported a Q2 loss that was the same as a year ago after the sale of its refinery and downstream businesses to Puma Energy. The oil and gas production and exploration company said its loss from continuing operations was flat at $0.31 per share. On a reported basis, net income was $52.3 million or $1.05 per diluted share, up from $13.2 million, or $0.27 per share a year earlier, boosted by a gain on the downstream businesses. Commodities Crude was up 0.11%; natural gas was down 2.3%.
One group that was widely searched, and it should not come as a surprise, was energy. Due to poor demand fundamentals, the United States Oil Fund ( USO ) slumped 2.2% on the week and that was with the benefit of an 1% gain on Friday. Earlier this week after the International Energy Agency projected lower oil demand for 2014, pointing to lower-than-expected second quarter growth in developed economies. [ Fundamentals Plague Oil ETFs ] However, USO was not one of the most searched energy ETFs this week. The Energy Select Sector SPDR ( XLE ) was despite an almost 1% drop. XLEs leadership among the weeks most searched ETFs is not surprising.
Fitch: High-Yield ETF Outflows Surge as Risk Appetite Shifts – Yahoo Finance
U.S. stocks reversed earlier gains as tensions http://www.etftradingsignals.com between Russia and Ukraine were reignited following an announcement from a Ukrainian military spokesperson, who said Ukrainian forces had destroyed part of a Russian military unit that was in Ukrainian territory. The news comes at the heels of NATO Secretary General, Anders Fogh Rasmussen’s statement late Thursday that NATO observed that Russia had indeed committed an incursion into Ukrainian territory. Back home, the University of Michigan and Thomson Reuters reported that the preliminary August reading on their consumer-sentiment index fell to 79.2, missing analysts’ forecasts. This reading was also the lowest level since November. Earlier gains were spurred by the report that U.S.
Friday Sector Laggards: Financial, Industrial – Forbes
This was about four times the average spread in trading activity between the two categories during our study period, which began at the start of 2013. High-yield ETFs have grown in importance as trading vehicles for fixed-income investors, particularly since May 2013, when the Fed first began discussing the likelihood of a tapering of quantitative easing. Growth in high-yield ETF volumes has outpaced growth in underlying bond trading volumes this year. For a detailed review of changes in high-yield ETF trading activity since early 2013, see the special report “High-Yield ETFs (Increased ETF Volume as Bond Trading Slows)” dated May 8, 2014, at http://www.fitchratings.com .
ETF Preview: ETFs, Futures Firmer Following July Retail Sales; Business-Inventory Data Still Ahead – NASDAQ.com
The next worst performing sector is the Industrial sector, showing a 0.7% loss. Among large Industrial stocks, Robert Half International ( NYSE: RHI ) and Jacobs Engineering Jacobs Engineering Group ( NYSE: JEC ) are the most notable, showing a loss of 1.9% and 1.9%, respectively. One ETF closely tracking Industrial stocks is the Industrial Select Sector SPDR ETF (XLI), which is down 0.6% in midday trading, and up 1.71% on a year-to-date basis. Robert Half International, meanwhile, is up 17.05% year-to-date, and Jacobs Engineering Group, is down 18.77% year-to-date. Combined, RHI and JEC make up approximately 0.9% of the underlying holdings of XLI. Click here to find out 25 Dividend Giants Widely Held By ETFs Comparing these stocks and ETFs on a trailing twelve month basis, below is a relative stock price performance chart, with each of the symbols shown in a different color as labeled in the legend at the bottom: Heres a snapshot of how the S&P 500 components within the various sectors are faring in afternoon trading on Friday.