In the latest market performance update, broad-market exchange-traded funds such as IWM and IVV experienced declines, with the Invesco QQQ Trust (QQQ) witnessing a notable drop of 0.7%. As trading progressed, U.S. equity indexes faced downward pressure alongside a decline in crude oil prices, while most government bond yields traded higher after midday on Friday. In the energy sector, there were similar trends.
The iShares US Energy ETF (IYE) and the Energy Select Sector SPDR (XLE) both fell approximately 0.5%. This mirrors the broader market's concerns about fluctuating energy prices impacting the stock values of energy-related investments. Turning to technology, the Technology Select Sector SPDR ETF (XLK) saw a dip of 1.1%.
Meanwhile, both the iShares US Technology ETF (IYW) and the iShares Expanded Tech Sector ETF (IGM) reported losses, further indicating a challenging environment for tech stocks this week. The SPDR S&P Semiconductor ETF (XSD) lost 2.3%, while the iShares Semiconductor ETF (SOXX) dropped by 2.4%, highlighting the volatility in the semiconductor sector amid broader market pressures. In financial markets, the Financial Select Sector SPDR (XLF) experienced a decline of 0.6%.
Additionally, the Direxion Daily Financial Bull 3X Shares (FAS) saw a drop of 2.5%, while its bearish counterpart, the Direxion Daily Financial Bear 3X Shares (FAZ), managed a gain of 2.5%, illustrating the contrasting pressures in the financial sector. Commodity markets mirrored these downturns, as crude oil fell by 2.1%, and the United States Oil Fund (USO) reported a loss of 1.4%.
Natural gas prices also took a hit, falling nearly 2%, though the United States Natural Gas Fund (UNG) saw a modest increase of 0.1%. Gold prices decreased by 2.1% based on Comex results, with SPDR Gold Shares (GLD) showing a decline of 1.6%. Similarly, silver prices lost approximately 3%, with the iShares Silver Trust (SLV) retreating by 2.3%, indicative of investors' risk-off sentiment. In consumer sectors, the Consumer Staples Select Sector SPDR (XLP) eased by 0.2%, while the Vanguard Consumer Staples ETF (VDC) and the iShares Dow Jones US Consumer Goods ETF (IYK) faced declines.
The Consumer Discretionary Select Sector SPDR (XLY) also fell by 1.2%, alongside decreases in retail-focused investments like the VanEck Vectors Retail ETF (RTH) and the SPDR S&P Retail ETF (XRT). In health care, however, there was a notable exception. The Health Care Select Sector SPDR (XLV) rose 0.5%, with the iShares US Healthcare ETF (IYH) and the Vanguard Health Care ETF (VHT) also experiencing gains.
In contrast, the iShares NASDAQ Biotechnology ETF (IBB) fell by 0.2%, suggesting mixed performance in the health care sector. In terms of industrial performance, the Select Sector SPDR-Industrial (XLI) fell 0.4%, while both the iShares U.S. Industrials (IYJ) and Vanguard Industrials (VIS) followed suit with declines, shedding light on the challenges faced across various industrial sectors within the current market environment..