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Exchange-Traded Funds Mixed, US Equities Down; Gold Surges to New Record High
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Exchange-Traded Funds Mixed, US Equities Down; Gold Surges to New Record High
Apr 9, 2024 10:31 AM

01:00 PM EDT, 04/09/2024 (MT Newswires) -- Broad Market Indicators

Broad-market exchange-traded funds, including IWM and IVV, were mixed, with the latter trading lower. Actively-traded Invesco QQQ Trust (QQQ) was fractionally lower.

US benchmark stock indexes declined with government bond yields, while gold surged to a new record in midday trading on Tuesday.

Energy

iShares US Energy ETF (IYE) fell 0.4% and Energy Select Sector SPDR (XLE) slid 0.4%.

Technology

Technology Select Sector SPDR ETF (XLK) was fractionally up; iShares US Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM) were lower.

SPDR S&P Semiconductor (XSD) increased 1.7% while iShares PHLX Semiconductor (SOXX) gained 0.3%.

Financial

Financial Select Sector SPDR (XLF) contracted 0.8%. Direxion Daily Financial Bull 3X shares (FAS) was down 2.3% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was up 2.2%.

Commodities

Crude was down 1%; United States Oil Fund (USO) fell 1%. Natural gas was up 1% and the United States Natural Gas Fund (UNG) increased 1%.

Gold was up 0.5% based on Comex, and SPDR Gold Shares (GLD) gained 0.3%. Silver was up 0.3% and iShares Silver Trust (SLV) rose 0.2%.

Consumer

Consumer Staples Select Sector SPDR (XLP) slid less than 0.1%; Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK) were mixed, with the latter trading lower.

Consumer Discretionary Select Sector SPDR (XLY) was down fractionally; retail funds VanEck Vectors Retail ETF (RTH) and SPDR S&P Retail (XRT) were down.

Health Care

Health Care Select Sector SPDR (XLV) fell 0.1% and other funds iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) were lower. Biotech ETF iShares NASDAQ Biotechnology ETF (IBB) was up 0.7%.

Industrial

Select Sector SPDR-Industrial (XLI) dropped 0.6% while other industrial funds iShares U.S. Industrials (IYJ), and Vanguard Industrials (VIS) were lower.

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