ETF Morning Call: Markets Await US Jobs Data

November 02, 2012



  • Asian stock indexes gained today on what investors perceived to be improving signs of global economic growth following positive U.S. and China economic data.
  • The Nikkei advanced 1.7 percent; S&P/ASX 200 increased 0.05 percent; Hang Seng gained 1.33 percent; KOSPI rose 1.07 percent; the Shanghai Composite climbed 0.6 percent.



  • European stock indexes dropped as investors awaited the U.S. nonfarm payroll data. Look for changes in the Vanguard MSCI Europe ETF (NYSEArca: VGK).
  • PMI manufacturing for the EMU, Germany and France all came in below 50, a sign that manufacturing is contracting in the eurozone as a whole, but also in both of its largest economies.



  • U.S. stock futures pointed to a flat opening ahead of the release of October non-farm payroll data and factory order data.
  • Analysts estimate that nonfarm payrolls increased by 125,000 in October after an increase of 114,000 in September. This would place the unemployment rate at 7.9 percent.
  • Factory orders are expected to increase 4.9 percent in September from a 5.2 percent drop in August. The decline in August was due to a drop in aircraft orders.




  • Third-quarter earnings – before market
  • Estimated EPS = $2.83
  • ETF Movements

? iShares Dow Jones U.S. Energy Sector Fund (NYSEArca: IYE)

? Vanguard Energy ETF (NYSEArca: VDE)

? Energy Select Sector SPDR (NYSEArca: XLE)

? iShares MSCI Global Energy Producers Fund (NYSEArca: FILL)



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

Gold and Silver Fell

  • Gold dropped 0.38 percent, or $6.50, to $1,707.73. Expect decreases in the SPDR Gold Shares physical bullion ETF (NYSEArca: GLD).
  • Silver descended 0.91 percent, or $0.29, to $31.98. Expect falls in the iShares Silver Trust (NYSEArca: SLV).

WTI and Brent Oil Declined

  • The December contract for WTI crude oil slipped 0.80 percent, or $0.70, to $86.39 per barrel.
  • The December contract for Brent crude oil fell 0.36 percent, or $0.39, to $107.78 per barrel.
  • Expect decreases in the United States Oil Fund (NYSEArca: USO) and in the United States Brent Oil Fund (NYSEArca: BNO).


Fund Flows

None as of yet today


ETF Launches

None as of yet today


ETF Filings

None as of yet today


Economic Calendar


  • Employment Situation - 8:30 a.m. ET
  • Factory Orders - 10:00 a.m. ET



  • Canada


? Labour Force Survey - 8:30 a.m. ET


  • France


? PMI Manufacturing Index - 4:50 a.m. ET

  • Germany


? PMI Manufacturing Index - 4:55 a.m. ET

  • EMU


? PMI Manufacturing Index - 5:00 a.m. ET


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