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Exchange-Traded Funds, US Equities Higher on China Stimulus Hopes
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Exchange-Traded Funds, US Equities Higher on China Stimulus Hopes
Oct 3, 2024 1:46 AM

01:00 PM EDT, 09/26/2024 (MT Newswires) -- Broad Market Indicators

Broad-market exchange-traded funds IWM and IVV were higher Thursday. Actively traded Invesco QQQ Trust (QQQ) rose 0.3%.

US equity indexes were up midday Thursday as China signaled further economic stimulus while Micron Technology's (MU) fiscal Q4 results buoyed the so-called artificial intelligence trade.

Energy

iShares US Energy ETF (IYE) and Energy Select Sector SPDR (XLE) were both 1.7% lower.

Technology

Technology Select Sector SPDR ETF (XLK) gained 0.7%; iShares US Technology ETF (IYW) added 0.3% while iShares Expanded Tech Sector ETF (IGM) was up 0.6%.

SPDR S&P Semiconductor (XSD) advanced 2.6% and iShares Semiconductor (SOXX) rose 2.2%.

Financial

Financial Select Sector SPDR (XLF) was 0.5% higher. Direxion Daily Financial Bull 3X Shares (FAS) climbed 1.5%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) dropped 1.4%.

Commodities

Crude oil fell 2.9%, and United States Oil Fund (USO) shed 3%. Natural gas dipped 2.7%, and the United States Natural Gas Fund (UNG) lost 2.4%.

Gold rose 0.2% on Comex, and SPDR Gold Shares (GLD) gained 0.3%. Silver was 0.8% higher, and iShares Silver Trust (SLV) added 0.5%.

Consumer

Consumer Staples Select Sector SPDR (XLP) edged up 0.1%; Vanguard Consumer Staples ETF (VDC) was flat, while iShares Dow Jones US Consumer Goods (IYK) rose 0.3%.

Consumer Discretionary Select Sector SPDR (XLY) added 0.2%; retail fund VanEck Vectors Retail ETF (RTH) and SPDR S&P Retail (XRT) were also higher.

Health Care

Health Care Select Sector SPDR (XLV) was up 0.1%; iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) were also in the green. iShares NASDAQ Biotechnology ETF (IBB) climbed 1.1%.

Industrial

Select Sector SPDR-Industrial (XLI) rose 0.6% with Vanguard Industrials (VIS) and iShares US Industrials (IYJ) also advancing.

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