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Exchange-Traded Funds, US Equities Rise After Fed's Preferred Inflation Gauge Meets Expectations

MT Newswires
·2-min read

Broad Market Indicators

Broad-market exchange-traded funds, including IWM and IVV, were trading higher. Actively-traded Invesco QQQ Trust (QQQ) was up 1.6%.

US equity indexes rose following strong quarterly earnings from technology heavyweights while the Federal Reserve's preferred measure of inflation in March met market expectations.

Energy

iShares US Energy ETF (IYE) fell 1% and Energy Select Sector SPDR (XLE) slid 1.1%.

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 1.6% while iShares PHLX Semiconductor (SOXX) rose 1.8%.

Financial

Financial Select Sector SPDR (XLF) was flat. Direxion Daily Financial Bull 3X shares (FAS) was down 0.2% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was up 0.2%.

Commodities

Crude was up 0.6%; United States Oil Fund (USO) rose 0.4%. Natural gas was down 3.4% and the United States Natural Gas Fund (UNG) declined 2.3%.

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

Consumer

Consumer Staples Select Sector SPDR (XLP) gained 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) increased 1.4%; retail funds VanEck Vectors Retail ETF (RTH) and SPDR S&P Retail (XRT) were higher.

Health Care

Health Care Select Sector SPDR (XLV) was 0.1% higher and other funds iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) were higher. Biotech ETF iShares NASDAQ Biotechnology ETF (IBB) was up 0.8%.

Industrial

Select Sector SPDR-Industrial (XLI) edged up 0.1% while other industrial funds iShares U.S. Industrials (IYJ), and Vanguard Industrials (VIS) were higher.