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ETF Morning Call

ETF Morning Call: October 02, 2012
By Ndubisi Onuora | October 02, 2012

Related ETFs: EWA / IVV / IJH / SLV / GLD / BNO / USO / VGK

Asia slightly lower on strong U.S. manufacturing data; Europe and U.S. futures advance on growing confidence in a Spain turnaround.

 

International

Asia

  • Most major Asian stock indexes were closed due to a trading holiday. The other indexes were down due to expansion in U.S. manufacturing.
  • The Nikkei fell 0.12 percent; S&P/ASX 200 advanced 1.01 percent; KOSPI eased 0.01 percent. The Shanghai Composite and Hang Seng were closed for a holiday.
  • Due to the end in the mining boost in Australia, the RBA reduced the overnight cash-rate target by 0.25 percentage points to 3.25 percent. Expect advances in the iShares MSCI Australia Index Fund (NYSEArca: EWA).

 

Europe

  • European stock indexes gained after yields on Spanish debt slipped. Look for increases in the Vanguard MSCI Europe ETF (NYSEArca: VGK).

 

Domestic

  • U.S. stock futures indicated a higher opening as investors grow confident that problems in Spain and in Europe seem to be under control.

 

Commodities

All commodities news is as of 7:55 a.m. ET.

Gold and Silver Gain

  • Gold advanced 0.15 percent, or $2.75, to $1778.05. Expect increases in the SPDR Gold Shares physical bullion ETF (NYSEArca: GLD).
  • Silver rose 0.40 percent, or $0.14, to $34.80. Expect growth in the iShares Silver Trust (NYSEArca: SLV).

 

WTI Ascended and Brent Oil Eased

  • The November contract for WTI crude oil elevated 0.11 percent, or $0.10, to $92.58 per barrel.
  • The November contract for Brent crude oil retreated 0.09 percent, or $0.10, to $112.09 per barrel.
  • Look for advances in the United States Oil Fund (NYSEArca: USO) and slips in the United States Brent Oil Fund (NYSEArca: BNO).

 

Fund Flows

On Monday, Oct. 1, 2012, the top ETF in nominal inflows was the iShares S&P 500 (NYSEArca: IVV), with creations of $913.37 million. The top ETF in nominal outflows was the iShares S&P 400 MidCap (NYSEArca: IJH), with redemptions of $894.89 million.

 

ETF Launches

None as of yet today

 

ETF Filings

None as of yet today

 

Economic Calendar

Domestic

  • Motor Vehicle Sales - TBD
  • ICSC-Goldman Store Sales - 7:45 a.m. ET
  • Redbook - 8:55 a.m. ET

 

Europe

  • EMU

 

◦      PPI - 5:00 a.m. ET

Asia/Pacific

  • Australia

 

◦      RBA Announcement - 12:30 a.m. ET

◦      Merchandise Trade - 9:30 p.m. ET

  • Japan

 

◦      PMI Composite - 7:15 p.m. ET