Exchange-Traded Funds Drop as US Equities Fall After Midday

MT Newswires Live
Yesterday

Broad Market Indicators

Broad-market exchange-traded funds IWM and IVV declined. Actively traded Invesco QQQ Trust (QQQ) was down 0.4%.

US equity indexes declined with gold futures, while government bond yields traded mostly higher in midday trading on Thursday.

Energy

iShares US Energy ETF (IYE) and the Energy Select Sector SPDR (XLE) both lost 1.1%.

Technology

Technology Select Sector SPDR ETF (XLK) 0.5% lower; iShares US Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM) declined as well.

SPDR S&P Semiconductor (XSD) dropped 0.9%, and iShares Semiconductor (SOXX) shed 0.9%.

Financial

The Financial Select Sector SPDR (XLF) fell 0.5%. Direxion Daily Financial Bull 3X Shares (FAS) slipped 1.7%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), gained 1.4%.

Commodities

Crude oil was down 1.6%, and the United States Oil Fund (USO) lost 1.4%. Natural gas dipped 1.6%, and the United States Natural Gas Fund (UNG) was down 1.7%.

Gold on Comex dipped 1.9%, and SPDR Gold Shares (GLD) fell 1.8%. Silver was down 3%, and iShares Silver Trust (SLV) shed 2.5%.

Consumer

Consumer Staples Select Sector SPDR (XLP) added 0.1%. The Vanguard Consumer Staples ETF (VDC) rose 0.3%, while iShares Dow Jones US Consumer Goods (IYK) gained 0.2%.

Consumer Discretionary Select Sector SPDR (XLY) fell 1%. VanEck Retail ETF (RTH) was down 0.6%, and SPDR S&P Retail (XRT) lost 1.1%.

Health Care

Health Care Select Sector SPDR (XLV) fell fractionally, and iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) edged higher; iShares Biotechnology ETF (IBB) was up 0.3%.

Industrial

Industrial Select Sector SPDR (XLI) was 1.3% lower. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were in the red.

Cryptocurrency

In midday activity, bitcoin (BTC-USD) lost 2.5%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) was down 2.7%, ProShares Ether ETF (EETH) slipped 5.1%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) dropped 1.3%.

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