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Exchange-Traded Funds Lower, US Equities Mixed After Initial Jobless Claims Rise Unexpectedly
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Exchange-Traded Funds Lower, US Equities Mixed After Initial Jobless Claims Rise Unexpectedly
Jun 6, 2024 10:18 AM

12:54 PM EDT, 06/06/2024 (MT Newswires) -- Broad Market Indicators

Broad-market exchange-traded funds, including IWM and IVV, were trading lower. Actively-traded Invesco QQQ Trust (QQQ) was down 0.1%.

US benchmark stock indexes traded mixed after the S&P 500 and Nasdaq Composite hit another record high, and government bond yields traded steady as investors weighed a surprise increase in jobless claims.

Energy

iShares US Energy ETF (IYE) lost 0.1% and Energy Select Sector SPDR (XLE) was 0.2% lower.

Technology

Technology Select Sector SPDR ETF (XLK) was down 0.4%; iShares US Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM) were lower.

SPDR S&P Semiconductor (XSD) fell 1.1% while iShares Semiconductor (SOXX) contracted 1.2%.

Financial

Financial Select Sector SPDR (XLF) fell 0.3%. Direxion Daily Financial Bull 3X shares (FAS) was down 1% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was up 1%.

Commodities

Crude was up 2.2%; United States Oil Fund (USO) added 1.8%. Natural gas was down 0.4% and the United States Natural Gas Fund (UNG) fell 0.2%.

Gold was 0.8% higher based on Comex, and SPDR Gold Shares (GLD) gained 0.8%. Silver was up 4.1% and iShares Silver Trust (SLV) added 4%.

Consumer

Consumer Staples Select Sector SPDR (XLP) rose 0.5%; Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK) were higher.

Consumer Discretionary Select Sector SPDR (XLY) rose 0.5%; retail fund VanEck Vectors Retail ETF (RTH) was trading up 0.2% and the SPDR S&P Retail (XRT) was down 0.4%.

Health Care

Health Care Select Sector SPDR (XLV) rose 0.03% and other funds iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) were higher. Biotech ETF iShares NASDAQ Biotechnology ETF (IBB) was down 0.2%.

Industrial

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

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