Exchange-Traded Funds, US Equities Decline After Midday

MT Newswires Live
08 Oct 2024

Broad Market Indicators

Broad-market exchange-traded funds IWM and IVV were lower. Actively traded Invesco QQQ Trust (QQQ) shed 0.4%.

US equity indexes declined as crude oil rose in midday trading Monday amid reports of a pending meeting between Iran and Russia to assess the escalating crisis in the Middle East.

Energy

iShares US Energy ETF (IYE) rose 0.7% and Energy Select Sector SPDR (XLE) added 0.7%.

Technology

Technology Select Sector SPDR ETF (XLK) was up 0.1%; iShares US Technology ETF (IYW) rose and iShares Expanded Tech Sector ETF (IGM) fell.

SPDR S&P Semiconductor (XSD) fell 0.2%, and iShares Semiconductor (SOXX) rose 0.3%.

Financial

Financial Select Sector SPDR (XLF) shed 0.8%. Direxion Daily Financial Bull 3X Shares (FAS) declined 2.6%, and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) added 2.7%.

Commodities

Crude oil was up 3.6%; United States Oil Fund (USO) rose 3.3%. Natural gas fell 4.3%, and the United States Natural Gas Fund (UNG) edged down 4.1%.

Gold was down 0.1% on Comex, and SPDR Gold Shares (GLD) fell 0.2%. Silver was 1% lower, and iShares Silver Trust (SLV) lost 1.2%.

Consumer

Consumer Staples Select Sector SPDR (XLP) dipped 0.9%; Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK) were in the red.

Consumer Discretionary Select Sector SPDR (XLY) dropped 1.2%; retail fund VanEck Vectors Retail ETF (RTH) and SPDR S&P Retail (XRT) were declining.

Health Care

Health Care Select Sector SPDR (XLV) was down 0.3%; iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) were lower. iShares NASDAQ Biotechnology ETF (IBB) fell 1%.

Industrial

Select Sector SPDR-Industrial (XLI) was down 0.1%, and Vanguard Industrials (VIS) and iShares US Industrials (IYJ) traded lower.

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