ETF Trends
ETF Trends

Stock exchange traded funds were set to end the week on a down note as investors expressed concern about the economic outlook and scaled-back profit forecasts at Nvidia (NasdaqGS: NVDA) and Nordstrom (NYSE: JWN).

Retail ETFs held steady Friday despite worries over Nordstrom, which reported improved first-quarter profit but scaled back its full-year forecast. Retail ETFs were flat while Nordstrom shares fell into the red. The stock represents about 5% of PowerShares Dynamic Retail (NYSEArca: PMR). The ETF has rallied about 15% this year. [Retail ETF in Focus on Nordstrom Outlook]

Nvidia weighed on semiconductor ETFs Friday as the stock lost about 9% after the company reported quarterly earnings and offered a disappointing outlook. Nvidia announced first-quarter earnings that beat expectations. “However, guidance for the second quarter was a bit light versus our expectations,” BMO Capital Markets said in a note. [Nividia Pulls Down Semiconductor ETF]

Silver ETFs were up 2% Friday but the ETFs remain well below their 50-day moving averages after the big sell-off. Precious metals ETFs were getting a boost from a weaker dollar. The iShares Silver Trust (NYSEArca: SLV) rose 4% before the opening bell, while SPDR Gold Shares (NYSEArca: GLD) was up fractionally. [Silver ETFs Rise 4% Before the Bell]

Gregory A. Clay contributed to this article.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.