Exchange-Traded Funds Rise as US Equities Point Higher After Midday

MT Newswires Live02:16

Broad Market Indicators

Broad-market exchange-traded funds IWM and IVV were higher. Actively traded Invesco QQQ Trust (QQQ) added 1.3%.

US equity indexes rose in midday trading on Wednesday as technology topped sector charts amid expectations that Nvidia's (NVDA) quarterly results will beat market consensus.

Energy

IShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each lost about 1%.

Technology

The State Street Technology Select Sector SPDR ETF (XLK) rose 1.9%; iShares US Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM) were also higher.

The State Street SPDR S&P Semiconductor (XSD) gained 1.1%, and iShares Semiconductor (SOXX) was up 1.6%.

Financial

The State Street Financial Select Sector SPDR (XLF) was 1.6% higher. Direxion Daily Financial Bull 3X Shares (FAS) climbed 4.7%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), dropped 4.8%.

Commodities

Crude oil slipped 0.3%, and the United States Oil Fund (USO) was down 1.1%. Natural gas rose 2.5%, and the United States Natural Gas Fund (UNG) gained 1.8%.

Gold on Comex added 1%, and the State Street SPDR Gold Shares (GLD) rose 0.8%. Silver gained 3.7%, and iShares Silver Trust (SLV) was up 4.2%.

Consumer

The State Street Consumer Staples Select Sector SPDR (XLP) shed 1%. The Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK) were also lower.

The State Street Consumer Discretionary Select Sector SPDR (XLY) fell fractionally. VanEck Retail ETF (RTH) lost 0.6%, and the State Street SPDR S&P Retail (XRT) slipped 0.8%.

Health Care

The State Street Health Care Select Sector SPDR (XLV) rose fractionally, while iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) edged lower. IShares Biotechnology ETF (IBB) fell 0.3%.

Industrial

The State Street Industrial Select Sector SPDR (XLI) was down 0.5%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) also moved lower.

Cryptocurrency

In midday activity, bitcoin (BTC-USD) climbed 6.7%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) added 6.4%, ProShares Ether ETF (EETH) soared 11.8%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) gained 7.4%.

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