Broad-market exchange-traded funds IWM and IVV were lower as Friday's trading session continued. The actively traded Invesco QQQ Trust (QQQ) experienced a modest decline of 0.3%. Overall, US equity indexes were mostly down midway through Friday, giving back some of the strong gains from the previous session, attributed to the Federal Reserve's easing of its policy stance.
In the energy sector, both iShares US Energy ETF (IYE) and Energy Select Sector SPDR (XLE) recorded a decrease of approximately 0.3%. Technology stocks also faced a downturn, as the Technology Select Sector SPDR ETF (XLK) dipped by 0.6%. The iShares US Technology ETF (IYW) slipped by 0.4%, while the iShares Expanded Tech Sector ETF (IGM) recorded a decline of 0.3%.
Notably, the SPDR S&P Semiconductor (XSD) and iShares Semiconductor (SOXX) experienced a more significant drop of 2%. In the financial sector, the Financial Select Sector SPDR (XLF) dropped by 0.3%. The Direxion Daily Financial Bull 3X Shares (FAS) saw a larger drop of 1%, whereas its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), saw an increase of 1%.
Turning to commodities, crude oil prices rose by 0.4%, and the United States Oil Fund (USO) saw a fractional increase. Natural gas prices surged by 2.3%, with the United States Natural Gas Fund (UNG) edging up by 3.5%. In precious metals, gold gained 1.3% on Comex, with SPDR Gold Shares (GLD) rising by 1.4%.
Silver also experienced a boost, rising by 0.7%, while the iShares Silver Trust (SLV) climbed by 1.7%. In consumer goods, the Consumer Staples Select Sector SPDR (XLP) increased slightly by less than 0.1%. The Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK) were mixed, with VDC marginally higher.
The Consumer Discretionary Select Sector SPDR (XLY) saw a decline of 0.2%, as did the retail fund VanEck Vectors Retail ETF (RTH) and SPDR S&P Retail (XRT). In the health care sector, the Health Care Select Sector SPDR (XLV) reported a decrease of 0.5%. The iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) both declined, with the iShares NASDAQ Biotechnology ETF (IBB) lower by 1%.
Lastly, in industrials, the Select Sector SPDR-Industrial (XLI) fell by 0.6%, with both Vanguard Industrials (VIS) and iShares US Industrials (IYJ) following suit with losses. As the market reacts to various economic indicators and Federal Reserve policies, investors are advised to stay vigilant and informed..