Exchange-Traded Funds Fall as US Equities Decline After Midday

MT Newswires Live01:12

Broad Market Indicators

Broad-market exchange-traded funds IWM and IVV were lower. Actively traded Invesco QQQ Trust (QQQ) fell 0.5%.

US equity indexes were lower after midday Thursday as bond yields and oil prices rose after President Donald Trump threatened economic warfare on Iran and its trade partners.

Energy

IShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each rose about 0.7%.

Technology

The State Street Technology Select Sector SPDR ETF (XLK) eased slightly; iShares US Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM) also declined.

The State Street SPDR S&P Semiconductor (XSD) shed 1.6%, while iShares Semiconductor (SOXX) added 0.2%.

Financial

The State Street Financial Select Sector SPDR (XLF) eased 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) declined 0.7%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), advanced 0.8%.

Commodities

Crude oil rose 2.4%, and the United States Oil Fund (USO) added 2.4%. Natural gas slipped 3.2%, and the United States Natural Gas Fund (UNG) was down 1.6%.

Gold on Comex rose 0.4%, and the State Street SPDR Gold Shares (GLD) was down 0.1%. Silver gained 3.7%, and iShares Silver Trust (SLV) was up 2.7%.

Consumer

The State Street Consumer Staples Select Sector SPDR (XLP) was down 0.8%. The Vanguard Consumer Staples ETF (VDC) fell 1.8%, while iShares Dow Jones US Consumer Goods (IYK) added 0.5%.

The State Street Consumer Discretionary Select Sector SPDR (XLY) was down 1.4%. VanEck Retail ETF (RTH) fell 2.1%, and the State Street SPDR S&P Retail (XRT) shed 2.1%.

Healthcare

The State Street Health Care Select Sector SPDR (XLV) shed 0.8%. iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) were lower as well. IShares Biotechnology ETF (IBB) fell 2.4%.

Industrial

The State Street Industrial Select Sector SPDR (XLI) lost 0.8%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also lower.

Cryptocurrency

In midday activity, bitcoin (BTC-USD) added 5.3%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) gained 6.3%, ProShares Ether ETF (EETH) was up 11.6%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) climbed 6.9%.

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