Broad-market exchange-traded funds IWM and IVV were higher on Wednesday, reflecting a strong market response. The actively traded Invesco QQQ Trust (QQQ) showed impressive gains, rising by 2.3%. US equity indexes experienced fresh intraday record highs as government bond yields surged and the dollar strengthened following the Republican presidential nominee Donald Trump's victory over Democratic counterpart Kamala Harris in Tuesday's vote. In the energy sector, the iShares US Energy ETF (IYE) increased by 3.3%, while the Energy Select Sector SPDR (XLE) gained 3.7%, showcasing robust oil market dynamics. The technology sector also presented positive results with the Technology Select Sector SPDR ETF (XLK) rising by 2.4%.
Both iShares US Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM) recorded climbs, while the SPDR S&P Semiconductor (XSD) increased by 3.5% alongside a 2.3% rise in iShares Semiconductor (SOXX). In financial markets, the Financial Select Sector SPDR (XLF) escalated by 5.8%. Direxion Daily Financial Bull 3X Shares (FAS) saw a notable increase of 17.3%, in contrast to its bearish counterpart, the Direxion Daily Financial Bear 3X Shares (FAZ), which dropped by 17.4%. Commodities also saw fluctuations: crude oil registered a slight increase of 0.1%, while the United States Oil Fund (USO) dipped by 0.1%.
Natural gas experienced a surge of 3.1%, with the United States Natural Gas Fund (UNG) climbing by 3.4%. Conversely, gold lost 2.7% on Comex, while SPDR Gold Shares (GLD) shed 2.8%. Silver futures fell by 4.6%, and the iShares Silver Trust (SLV) declined by 4.5%. The consumer sector had mixed results, with the Consumer Staples Select Sector SPDR (XLP) down by 1.8%.
Both Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK) faced losses. However, the Consumer Discretionary Select Sector SPDR (XLY) edged 2.6% higher, aided by a 0.9% rise in the VanEck Vectors Retail ETF (RTH) and a 1.5% gain in SPDR S&P Retail (XRT). The health care sector remained somewhat stable, with the Health Care Select Sector SPDR (XLV) incrementally higher.
iShares US Healthcare (IYH) showed mixed results, though the Vanguard Health Care ETF (VHT) trended upward. Notably, the iShares NASDAQ Biotechnology ETF (IBB) gained 0.9%. The industrial sector saw the Select Sector SPDR-Industrial (XLI) climb by 3.7%, with both Vanguard Industrials (VIS) and iShares US Industrials (IYJ) also showing positive movement..