01:00 PM EST, 03/06/2024 (MT Newswires) -- Broad Market Indicators

Broad-market exchange-traded funds, including IWM and IVV, were trading higher. Actively traded Invesco QQQ Trust (QQQ) was up 1.1%.

US benchmark stock indexes rose after midday Wednesday as Federal Reserve Chair Jerome Powell's remarks to Congress suggested the central bank is not in a hurry to cut interest rates even though a reduction is on the cards for this year.

Energy

iShares US Energy ETF (IYE) and Energy Select Sector SPDR (XLE) each gained 0.9%.

Technology

Technology Select Sector SPDR ETF (XLK) was up 1.3%; iShares US Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM) were higher.

SPDR S&P Semiconductor (XSD) increased 3.5% while iShares PHLX Semiconductor (SOXX) rose 3.4%.

Financial

Financial Select Sector SPDR (XLF) gained 0.6%. Direxion Daily Financial Bull 3X shares (FAS) was up 1.6% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was down 1.8%.

Commodities

Crude was up 2.4%; United States Oil Fund (USO) rose 2.2%. Natural gas was down 1% and the United States Natural Gas Fund (UNG) fell 1.1%.

Gold was up 0.5% based on Comex, and SPDR Gold Shares (GLD) edged up 0.7%. Silver was up 1.8% and iShares Silver Trust (SLV) rose 2.1%.

Consumer

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

Consumer Discretionary Select Sector SPDR (XLY) rose 0.1%; retail funds VanEck Vectors Retail ETF (RTH) and SPDR S&P Retail (XRT) were mixed, with the latter trading lower.

Health Care

Health Care Select Sector SPDR (XLV) rose 0.7% and other funds iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) were higher. Biotech ETF iShares NASDAQ Biotechnology ETF (IBB) was up 0.6%.

Industrial

Select Sector SPDR-Industrial (XLI) rose 1% while other industrial funds iShares U.S. Industrials (IYJ), and Vanguard Industrials (VIS) were higher.