Exchange-Traded Funds Drop as US Equities Fall After Midday

MT Newswires Live
2 hours ago

Broad Market Indicators

Broad-market exchange-traded funds IWM and IVV were lower. Actively traded Invesco QQQ Trust (QQQ) eased 1%.

US equity indexes fell amid concerns that surging crude oil prices and higher government bond yields risk undermining consumer and corporate investment.

Energy

IShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each added about 2.4%.

Technology

The State Street Technology Select Sector SPDR ETF (XLK) was down 1.3%; iShares US Technology ETF (IYW) fell 1.1%, and iShares Expanded Tech Sector ETF (IGM) was 1.4% lower.

The State Street SPDR S&P Semiconductor (XSD) dipped 3.2%, and iShares Semiconductor (SOXX) fell 2.5%.

Financial

The State Street Financial Select Sector SPDR (XLF) added 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) climbed up 1%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 0.8%.

Commodities

Crude oil rose 3.1%, and the United States Oil Fund (USO) added 2.3%. Natural gas slipped 2.6%, and the United States Natural Gas Fund (UNG) was down 2.1%.

Gold on Comex rose 0.1%, and the State Street SPDR Gold Shares (GLD) was up 0.5%. Silver fell 1.9%, and iShares Silver Trust (SLV) lost 1.3%.

Consumer

The State Street Consumer Staples Select Sector SPDR (XLP) was 2% higher, and the Vanguard Consumer Staples ETF (VDC) rose 1.9%.

The State Street Consumer Discretionary Select Sector SPDR (XLY) rose 0.1%. VanEck Retail ETF (RTH) was up 0.7%, and the State Street SPDR S&P Retail (XRT) was 1% higher.

Healthcare

The State Street Health Care Select Sector SPDR (XLV) lost 1.2%, while iShares US Healthcare (IYH) fell 1.4%, and Vanguard Health Care ETF (VHT) was down 1.3%. IShares Biotechnology ETF (IBB) was down 2.2%.

Industrial

The State Street Industrial Select Sector SPDR (XLI) dipped 0.4%. Vanguard Industrials Index Fund (VIS) fell 0.4%, and iShares US Industrials (IYJ) eased 0.1%.

Cryptocurrency

In midday activity, bitcoin (BTC-USD) shed 2.9%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) fell 3%, ProShares Ether ETF (EETH) lost 6.1%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.

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