Exchange-Traded Funds Edge Lower as US Equities Fall After Midday

MT Newswires Live
12 hours ago

Broad Market Indicators

Broad-market exchange-traded funds IWM and IVV declined. Actively traded Invesco QQQ Trust (QQQ) was down 0.9%.

US equity indexes fell in midday trading on Thursday as oil prices continued to rise amid an escalating war in the Middle East.

Energy

IShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each rose about 1.7%.

Technology

The State Street Technology Select Sector SPDR ETF (XLK) slipped 0.2%; iShares US Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM) were also lower.

The State Street SPDR S&P Semiconductor (XSD) shed 0.4%, and iShares Semiconductor (SOXX) was up 0.5%.

Financial

The State Street Financial Select Sector SPDR (XLF) fell 0.7%. Direxion Daily Financial Bull 3X Shares (FAS) declined 2.1%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), climbed up 2.1%.

Commodities

Crude oil gained 1.7%, and the United States Oil Fund (USO) was down 0.7%. Natural gas added 2.4%, and the United States Natural Gas Fund (UNG) slipped 0.8%.

Gold on Comex dropped 6.1%, and the State Street SPDR Gold Shares (GLD) fell 5.2%. Silver was down 9.1%, and iShares Silver Trust (SLV) shed 6.9%.

Consumer

The State Street Consumer Staples Select Sector SPDR (XLP) dipped 0.9%. The Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK) also declined.

The State Street Consumer Discretionary Select Sector SPDR (XLY) fell 1.4%. VanEck Retail ETF (RTH) was 0.7% down, and the State Street SPDR S&P Retail (XRT) added 0.2%.

Health Care

The State Street Health Care Select Sector SPDR (XLV) slipped 0.2%, and iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) were also weaker. IShares Biotechnology ETF (IBB) fell 0.4%.

Industrial

The State Street Industrial Select Sector SPDR (XLI) lost 1.3%. Vanguard Industrials Index Fund (VIS) fell 1.2%, while iShares US Industrials (IYJ) shed 1.1%.

Cryptocurrency

In midday activity, bitcoin (BTC-USD) dropped 2.6%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) fell 2.7%, ProShares Ether ETF (EETH) was down 3.6%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) lost 2.9%.

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