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Exchange-Traded Funds Rise, US Equities Mixed After Midday Tuesday
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Exchange-Traded Funds Rise, US Equities Mixed After Midday Tuesday
May 28, 2024 10:23 AM

12:50 PM EDT, 05/28/2024 (MT Newswires) -- Broad Market Indicators

Broad-market exchange-traded funds, including IWM and IVV, were trading higher Tuesday. Actively-traded Invesco QQQ Trust (QQQ) was up 0.3%.

US benchmark stock indexes traded mixed as Nvidia ( NVDA ) helped push the Nasdaq Composite to a record high, and investors focused on the macroeconomic data due in the holiday-shortened week ahead.

Energy

iShares US Energy ETF (IYE) and Energy Select Sector SPDR (XLE) both gained 1%.

Technology

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

SPDR S&P Semiconductor (XSD) increased 0.3% while iShares PHLX Semiconductor (SOXX) rose 2%.

Financial

Financial Select Sector SPDR (XLF) contracted 0.9%. Direxion Daily Financial Bull 3X shares (FAS) was down 2.5% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was up 2.6%.

Commodities

Crude was up 2.5%; United States Oil Fund (USO) rose 2.5%. Natural gas was up 0.5% and the United States Natural Gas Fund (UNG) edged up 0.4%.

Gold was up 1% based on Comex, and SPDR Gold Shares (GLD) rose 1%. Silver was up 5% and iShares Silver Trust (SLV) increased 5%.

Consumer

Consumer Staples Select Sector SPDR (XLP) fell 0.9%; Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK) were lower.

Consumer Discretionary Select Sector SPDR (XLY) slid 0.2%; retail funds VanEck Vectors Retail ETF (RTH) and SPDR S&P Retail (XRT) were mixed, with the latter trading higher.

Health Care

Health Care Select Sector SPDR (XLV) fell 1.2% and other funds iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) were lower. Biotech ETF iShares NASDAQ Biotechnology ETF (IBB) was down 1.4%.

Industrial

Select Sector SPDR-Industrial (XLI) fell 0.9% while other industrial funds iShares U.S. Industrials (IYJ), and Vanguard Industrials (VIS) were lower.

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