In a busy trading day, broad-market exchange-traded funds such as IWM and IVV experienced gains, with the actively traded Invesco QQQ Trust (QQQ) rising by 0.6%. Despite some fluctuation in government bond yields, US equity indexes enjoyed an upward trajectory as investors assessed various macroeconomic data points. In the energy sector, both the iShares US Energy ETF (IYE) and the Energy Select Sector SPDR (XLE) faced declines, each dropping approximately 2.5%.
Conversely, technology stocks demonstrated resilience, with the Technology Select Sector SPDR ETF (XLK) up by 0.6%. Other technology-focused funds, such as iShares US Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM), also witnessed positive movements. The semiconductor sector showed particular strength with the SPDR S&P Semiconductor (XSD) rising by 0.8%, while the iShares Semiconductor (SOXX) gained a notable 1.2%.
In financial markets, the Financial Select Sector SPDR (XLF) saw a modest increase of 0.1%, although the Direxion Daily Financial Bull 3X Shares (FAS) experienced a slightly more robust gain of 0.7%. However, its bearish counterpart, the Direxion Daily Financial Bear 3X Shares (FAZ), faced a decline of 0.6%.
Turning to commodities, crude oil prices took a hit, dropping by 3.3%, leading to a 3.2% decrease in the United States Oil Fund (USO). Natural gas, on the other hand, showed some buoyancy, advancing by 1%, with the United States Natural Gas Fund (UNG) following suit with a 0.7% climb. Gold prices edged higher by 0.2% on Comex, though SPDR Gold Shares (GLD) remained fractionally lower.
In contrast, silver enjoyed a stronger day with a 2.1% increase, while the iShares Silver Trust (SLV) added 1.9%. For consumer stocks, the Consumer Staples Select Sector SPDR (XLP) recorded a 0.3% gain, aided by positive performance in the Vanguard Consumer Staples ETF (VDC) and the iShares Dow Jones US Consumer Goods (IYK).
Meanwhile, the Consumer Discretionary Select Sector SPDR (XLY) moved up by 0.5%, and the retail-focused VanEck Vectors Retail ETF (RTH) saw gains of 0.8%. However, SPDR S&P Retail (XRT) reflected a slight decline of 0.5%. Healthcare stocks also maintained a positive stance, with the Health Care Select Sector SPDR (XLV) rising by 0.4%.
The iShares US Healthcare (IYH) and the Vanguard Health Care ETF (VHT) also reported gains, while the iShares Biotechnology ETF (IBB) was up by 0.8%. Industrial stocks were another bright spot, with the Select Sector SPDR-Industrial (XLI) adding 1.2%. Together, the Vanguard Industrials (VIS) and iShares US Industrials (IYJ) rose, signaling optimism in this sector..