Broad-market exchange-traded funds, specifically the iShares Russell 2000 ETF (IWM) and the iShares S&P 500 ETF (IVV), recorded positive performance, with notable activity observed in the Invesco QQQ Trust (QQQ), which experienced a modest increase of 0.1%. The upward momentum in US equity indexes was largely bolstered by the release of quarterly earnings reports from major banking institutions, which enhanced risk sentiment among investors.
Meanwhile, mixed results from recent producer price inflation data contributed to a decline in government bond yields, further influencing market conditions. In the Energy sector, both the iShares US Energy ETF (IYE) and the Energy Select Sector SPDR (XLE) saw an upward movement, adding 0.7% each, reflecting ongoing investor confidence in energy market dynamics. Transitioning to the Technology sector, the Technology Select Sector SPDR ETF (XLK) reported a slight increase of less than 0.1%.
Additionally, the iShares US Technology ETF (IYW) and the iShares Expanded Tech Sector ETF (IGM) recorded higher values, showcasing a stable interest in technological advancements. The SPDR S&P Semiconductor ETF (XSD) was particularly noteworthy, gaining 2%, accompanied by a 0.9% rise in the iShares Semiconductor ETF (SOXX). On the financial front, the Financial Select Sector SPDR (XLF) posted a significant gain of 1.8%, with the Direxion Daily Financial Bull 3X Shares (FAS) climbing impressively by 5.2%.
In contrast, its bearish counterpart, the Direxion Daily Financial Bear 3X Shares (FAZ), experienced a decrease of 5.2%, reflecting the volatility inherent in the financial sector. In commodities trading, crude oil prices dipped by 0.8%, while the United States Oil Fund (USO) recorded a slightly higher decline of 0.6%.
Natural gas prices fell by 1.4%, with the United States Natural Gas Fund (UNG) showing a steeper drop of 1.9%. Conversely, gold prices saw an increase of 1.4% on the Comex, and the SPDR Gold Shares (GLD) rose by 1.2%. Silver also rose by 1.8%, while the iShares Silver Trust (SLV) gained 1.6%, indicating a solid performance in precious metals. In terms of consumer indices, the Consumer Staples Select Sector SPDR (XLP) rose 0.4%, with other ETFs like the Vanguard Consumer Staples ETF (VDC) and the iShares Dow Jones US Consumer Goods ETF (IYK) also marking higher values.
However, the Consumer Discretionary Select Sector SPDR (XLY) faced a slight decline of 0.3%; nonetheless, related retail funds such as the VanEck Vectors Retail ETF (RTH) and SPDR S&P Retail ETF (XRT) made gains. The Health Care sector demonstrated resilience, with the Health Care Select Sector SPDR (XLV) edging up by 0.4%.
Additionally, the iShares US Healthcare ETF (IYH) and the Vanguard Health Care ETF (VHT) saw improvements, while the iShares NASDAQ Biotechnology ETF (IBB) increased by 0.8%, indicating robust health care market activity. In the Industrial sector, the Select Sector SPDR-Industrial (XLI) climbed 1.3%, bolstered by gains in the Vanguard Industrials (VIS) and iShares US Industrials (IYJ), signaling ongoing strength in industrial performance..