Exchange-Traded Funds Decline as US Equities Fall After Midday

MT Newswires Live01-21

Broad Market Indicators

Broad-market exchange-traded funds IWM and IVV fell, and actively traded Invesco QQQ Trust (QQQ) shed 1.4%.

US equity indexes slumped in midday trading on Tuesday as long-dated government bond yields jumped amid concerns of a trade war with the European Union over Greenland and a sell-off in Japanese bonds.

Energy

IShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each added about 0.2%.

Technology

The State Street Technology Select Sector SPDR ETF (XLK) was down 1.7%; iShares US Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM) were lower as well.

The State Street SPDR S&P Semiconductor (XSD) fell 0.2%, and iShares Semiconductor (SOXX) slipped 0.6%.

Financial

The State Street Financial Select Sector SPDR (XLF) lost 1.4%. Direxion Daily Financial Bull 3X Shares (FAS) declined 4.3%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), rose 4.2%.

Commodities

Crude oil gained 1.7%, and the United States Oil Fund (USO) added 1.8%. Natural gas soared 17.8%, and the United States Natural Gas Fund (UNG) climbed 18.3%.

Gold on Comex was up 3.5%, and the State Street SPDR Gold Shares (GLD) rose 3.7%. Silver gained 6.2%, and iShares Silver Trust (SLV) added 5.4%.

Consumer

The State Street Consumer Staples Select Sector SPDR (XLP) was 0.4% higher. The Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK) rose as well.

The State Street Consumer Discretionary Select Sector SPDR (XLY) shed 2%. VanEck Retail ETF (RTH) and the State Street SPDR S&P Retail (XRT) were also lower.

Health Care

The State Street Health Care Select Sector SPDR (XLV) dipped 0.2%, while iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) were in the red. iShares Biotechnology ETF (IBB) was up 0.1%.

Industrial

The State Street Industrial Select Sector SPDR (XLI) dropped 1.8%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) also declined.

Cryptocurrency

In midday activity, bitcoin (BTC-USD) was down 3.8%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) fell 6.5%, ProShares Ether ETF (EETH) dropped 9.6%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was down 6.5%.

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