Exchange-Traded Funds Rise as US Equities Advance After Midday

MT Newswires Live02:15

Broad Market Indicators

Broad-market exchange-traded funds IWM and IVV were higher, and actively traded Invesco QQQ Trust (QQQ) added 0.9%.

US equity indexes rose in midday trading on Thursday, extending gains after diplomatic manoeuvres at the World Economic Forum in Switzerland helped avert a potential trade war with the European Union.

Energy

IShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each lost about 0.1%.

Technology

The State Street Technology Select Sector SPDR ETF (XLK) was up 1%; iShares US Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM) were higher.

The State Street SPDR S&P Semiconductor (XSD) rose 0.8%, and iShares Semiconductor (SOXX) gained 0.6%.

Financial

The State Street Financial Select Sector SPDR (XLF) added 0.9%. Direxion Daily Financial Bull 3X Shares (FAS) advanced 2.9%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), slipped 2.8%.

Commodities

Crude oil lost 2.1%, and the United States Oil Fund (USO) dropped 2.5%. Natural gas gained 1.9%, and the United States Natural Gas Fund (UNG) climbed 2.4%.

Gold on Comex was up 1.3%, and the State Street SPDR Gold Shares (GLD) rose 1.5%. Silver rose 3.8%, and iShares Silver Trust (SLV) was up 4%.

Consumer

The State Street Consumer Staples Select Sector SPDR (XLP) fell fractionally. The Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK) were mixed with the latter rising 0.5%.

The State Street Consumer Discretionary Select Sector SPDR (XLY) gained 1%. VanEck Retail ETF (RTH) was up 0.3% and the State Street SPDR S&P Retail (XRT) was down 0.3%.

Health Care

The State Street Health Care Select Sector SPDR (XLV) rose 0.4%, while iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) advanced too. iShares Biotechnology ETF (IBB) was up 1.7%.

Industrial

The State Street Industrial Select Sector SPDR (XLI) fell 0.2%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) edged higher.

Cryptocurrency

In midday activity, bitcoin (BTC-USD) was down 1.1%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) fell 0.8%, ProShares Ether ETF (EETH) dropped 2.2%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) shed 1.4%.

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