ETF Morning Call: Earnings Driving Markets

Ndubisi Onuora
0

International

Asia

  • Asian stock indexes advanced led by gains in financial-sector equities. Weakness in industrial and raw-material companies kept a lid on the rally.

  • The Nikkei rose 0.04 percent; S'P/ASX 200 advanced 0.2 percent; Hang Seng gained 1.2 percent; KOSPI increased 0.23 percent; the Shanghai Composite climbed 0.37 percent.

Europe

  • European stock indexes declined today due to weak corporate earnings. Weakness in the U.S. stock market also weighed on markets. Look for declines in the Vanguard MSCI Europe ETF (VGK).

  • Industrial production for the EMU dropped 2.5 percent in October. The drop was steeper than the 1.8 percent analysts had expected, and a sharp turn from the 0.9 percent increase seen in September. Output in Germany, France and Portugal in October fell 2.1 percent, 2.7 percent and 12 percent, respectively.

Domestic

  • U.S. stock futures reversed direction after Monday's sell-off and advanced due to Cisco's strong earnings report, but it remained cautious ahead of retail sales data.

  • Analysts estimate that retail sales, including cars and gasoline, fell 0.1 percent in October after having seen a 1.1 increase in September.

Earnings

No major earnings affecting ETFs today.

Commodities

All commodities news is as of 6:55 a.m. ET.

Gold and Silver Fell

  • Gold declined 0.14 percent, or $2.45, to $1729.35. Expect a decline in the SPDR Gold Shares ETF (GLD).

  • Silver dropped 0.05 percent, or $0.02, to $32.48. Expect decreases in the iShares Silver Trust (SLV).

WTI and Brent Oil Gained

  • The December contract for WTI crude oil advanced 0.20 percent, or $0.17, to $85.55 per barrel.

  • The December contract for Brent crude oil climbed 0.23 percent, or $0.25, to $108.51 per barrel.

  • Expect increases in the United States Oil Fund (USO) and in the United States Brent Oil Fund (BNO).

Fund Flows

None as of yet today

ETF Launches

None as of yet today

ETF Filings

None as of yet today

Economic Calendar

Domestic

  • Producer Price Index - 8:30 a.m. ET

  • Retail Sales - 8:30 a.m. ET

  • Business Inventories - 10:00 a.m. ET

  • FOMC Minutes - 2:00 p.m. ET

Europe

  • France

◦ CPI - 2:45 a.m. ET

  • U.K.

◦ Labour Market Report - 4:30 a.m. ET

  • EMU

◦ Industrial Production - 5:00 a.m. ET

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