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Exchange-Traded Funds, US Equities Drop After Midday Trading
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Exchange-Traded Funds, US Equities Drop After Midday Trading
Oct 31, 2024 10:50 AM

01:07 PM EDT, 10/31/2024 (MT Newswires) -- Broad Market Indicators

Broad-market exchange-traded funds IWM and IVV were lower Thursday. Actively traded Invesco QQQ Trust (QQQ) fell 2%.

US equity indexes dropped after Microsoft ( MSFT ) and Meta Platforms' ( META ) results disappointed, while most government bond yields rose as investors weighed the Federal Reserve's preferred inflation data.

Energy

iShares US Energy ETF (IYE) added 0.6% and Energy Select Sector SPDR (XLE) was 0.5% higher.

Technology

Technology Select Sector SPDR ETF (XLK) fell 2.8%; iShares US Technology ETF (IYW) dipped 2.8% and iShares Expanded Tech Sector ETF (IGM) was down 2.6%.

SPDR S&P Semiconductor (XSD) fell 4.5% and iShares Semiconductor (SOXX) shed 4%.

Financial

Financial Select Sector SPDR (XLF) dipped 0.6%. Direxion Daily Financial Bull 3X Shares (FAS) fell 1.8%, and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) rose 1.8%.

Commodities

Crude oil was up 0.8%; United States Oil Fund (USO) added 0.3%. Natural gas shed 4%, and the United States Natural Gas Fund (UNG) fell 3.8%.

Gold was down 1.8% on Comex, and SPDR Gold Shares (GLD) fell 1.7%. Silver fell 3.9%, while iShares Silver Trust (SLV) shed 3.4%

Consumer

Consumer Staples Select Sector SPDR (XLP) was up 0.2%; Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK) were higher.

Consumer Discretionary Select Sector SPDR (XLY) edged 1% lower; retail fund VanEck Vectors Retail ETF (RTH) fell 0.6% while SPDR S&P Retail (XRT) dipped 0.1%.

Health Care

Health Care Select Sector SPDR (XLV) fell 0.4%; iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) were trending lower. iShares NASDAQ Biotechnology ETF (IBB) was down 1.1%.

Industrial

Select Sector SPDR-Industrial (XLI) retreated 0.8%, Vanguard Industrials (VIS) and iShares US Industrials (IYJ) were declining.

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