Exchange-Traded Funds Fall as US Equities Decline After Midday

MT Newswires Live
10/23

Broad Market Indicators

Broad-market exchange-traded funds IWM and IVV pointed lower. Actively traded Invesco QQQ Trust (QQQ) was down 1.2%.

US equity indexes took a breather ahead of Tesla's (TSLA) quarterly results due after the bell and as Netflix's (NFLX) Q3 earnings disappointed investors.

Energy

iShares US Energy ETF (IYE) and the Energy Select Sector SPDR (XLE) both added about 0.3%.

Technology

Technology Select Sector SPDR ETF (XLK) lost 1.5%; iShares US Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM) declined as well.

SPDR S&P Semiconductor (XSD) fell 4.2%, and iShares Semiconductor (SOXX) shed 3.1%.

Financial

The Financial Select Sector SPDR (XLF) was down 0.5%. Direxion Daily Financial Bull 3X Shares (FAS) dropped 1.5%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), climbed 1.8%.

Commodities

Crude oil rose 2.5%, and the United States Oil Fund (USO) added 2.4%. Natural gas slipped 1% and the United States Natural Gas Fund (UNG) fell 0.5%.

Gold on Comex dropped 1%, and SPDR Gold Shares (GLD) lost 1%. Silver was up 0.6%, and iShares Silver Trust (SLV) fell fractionally.

Consumer

Consumer Staples Select Sector SPDR (XLP) added 1%. The Vanguard Consumer Staples ETF (VDC) rose 0.9%, while iShares Dow Jones US Consumer Goods (IYK) was up 0.8%.

Consumer Discretionary Select Sector SPDR (XLY) dropped 0.7%. VanEck Retail ETF (RTH) was down 0.4%, and SPDR S&P Retail (XRT) lost 0.3%.

Health Care

Health Care Select Sector SPDR (XLV) was 1% higher, and iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) advanced; iShares Biotechnology ETF (IBB) was down 1%.

Industrial

Industrial Select Sector SPDR (XLI) dipped 0.8%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) moved lower as well.

Cryptocurrency

In midday activity, bitcoin (BTC-USD) shed 3.1%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) declined 3.1%, ProShares Ether ETF (EETH) lost 4.2%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was down 3.2%.

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