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ETF Morning Call

ETF Morning Call: January 07, 2013
By Ndubisi Onuora | January 07, 2013

Related ETFs: IWM / SLV / GLD / FEZ / SPY / BNO / USO / VGK

Asia and Europe decline on profit-taking; U.S. stock futures signal flat opening ahead of earnings season.

International

Asia

  • Asian stock indexes fell on profit-taking after the MSCI Asia Pacific Index reached its highest level since March 2012.
  • The Nikkei dropped 0.83 percent; S&P/ASX 200 slipped 0.14 percent; Hang Seng decreased 0.01 percent; KOSPI declined 0.03 percent; the Shanghai Composite advanced 0.37 percent.

 

Europe

  • European stock indexes slipped on profit-taking after the Stoxx Europe 600 climbed to its highest value since February 2011. Bank stocks advanced after the Basel Committee delayed the beginning of the strong capital requirements for banks for the next four years. Look for small declines in the Vanguard MSCI Europe ETF (NYSEArca: VGK) and in the SPDR Euro Stoxx 50 ETF (NYSEArca: FEZ).
  • The U.K.'s Halifax home price index gained 1.3 percent in December, better than expected.

 

Domestic

  • U.S. stock futures pointed to a flat opening as investors turn their attention to the beginning of the earnings season; Alcoa is slated to start off the earnings quarter.

 

Commodities

All commodities news is as of 7:25 a.m. ET.

Gold Rose and Silver Slipped

  • Gold gained 0.12 percent, or $1.93, to $1658.03. Expect increases in the SPDR Gold Shares (NYSEArca: GLD).
  • Silver fell 0.14 percent, or $0.10, to $30.25. Look for drops in the iShares Silver Trust (NYSEArca: SLV).

 

WTI and Brent Oil Declined

  • The February contract for WTI crude oil dropped 0.44 percent, or $0.41, to $92.70 per barrel.
  • The February contract for Brent crude oil fell 0.34 percent, or $0.38, to $110.93 per barrel.
  • Expect declines in the United States Oil Fund (NYSEArca: USO) and in the United States Brent Oil Fund (NYSEArca: BNO).

 

Fund Flows

On Friday, Jan. 4, 2013, the top ETF in nominal inflows was the iShares Russell 2000 (NYSEArca: IWM), with creations of $702.28 million. The top ETF in nominal outflows was the SPDR S&P 500 (NYSEArca: SPY), with redemptions of $1.07 billion.

 

ETF Launches

No launches today.

 

ETF Filings

No filings today.

 

Economic Calendar

Americas

  • Canada

 

◦      Ivey Purchasing Managers' Index - 10 a.m. ET

Europe

  • U.K.

 

◦      Halifax HPI - 3 a.m. ET