Broad-market exchange-traded funds IWM and IVV experienced gains, while the actively traded Invesco QQQ Trust (QQQ) modestly rose by 0.2%. On Wednesday, US equity indexes showed strength amid fluctuating trading conditions, while most Treasury yields declined, amid the ongoing anticipation of an interest-rate cut in December following the release of the October inflation data. In the Energy sector, the iShares US Energy ETF (IYE) saw an increase of 0.7%, with the Energy Select Sector SPDR (XLE) gaining 0.9%.
Meanwhile, the Technology sector showcased positive movement as the Technology Select Sector SPDR ETF (XLK) rose by 0.3%. Both the iShares US Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM) reported higher values. However, there were notable declines in the semiconductor industry, with the SPDR S&P Semiconductor (XSD) down by 1.3%, followed by an even larger drop of 1.8% in the iShares Semiconductor (SOXX). In the Financial sector, gains were noted for the Financial Select Sector SPDR (XLF), which increased by 0.4%.
The Direxion Daily Financial Bull 3X Shares (FAS) climbed 1.1%, whereas its bearish counterpart, the Direxion Daily Financial Bear 3X Shares (FAZ), fell by 1.4%. Turning to commodities, crude oil prices increased by 0.7%, while the United States Oil Fund (USO) saw a gain of 0.8%. Natural gas prices rose as well, edging up 2.9%, with the United States Natural Gas Fund (UNG) also reflecting a 1.7% increase.
In contrast, gold prices decreased by 0.7% on the Comex, with SPDR Gold Shares (GLD) falling 0.6%. Silver faced a slight drop of 0.3%, and the iShares Silver Trust (SLV) eased by 0.8%. In consumer-related ETFs, the Consumer Staples Select Sector SPDR (XLP) was up 0.1%, along with Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK).
The Consumer Discretionary Select Sector SPDR (XLY) had a stronger showing, gaining 1.1%, while the retail fund VanEck Vectors Retail ETF (RTH) edged up 0.1%, and SPDR S&P Retail (XRT) was up 0.9%. In the Health Care sector, the Health Care Select Sector SPDR (XLV) slightly fell by 0.1%, and both the iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) were in the negative territory, although the iShares NASDAQ Biotechnology ETF (IBB) managed a small rise of 0.2%. Lastly, in Industrial stocks, the Select Sector SPDR-Industrial (XLI) grew by 0.5%, with both Vanguard Industrials (VIS) and iShares US Industrials (IYJ) also showing improvements..