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Midday ETF Update: Broad-Market ETFs Lower, US Stocks Drop Amid Inflation Worries; Yields Advance

05/11/2021 08:52

12:39 PM EDT, 05/11/2021 (MT Newswires) -- Broad Market Indicators

Broad-market exchange-traded funds, including IWM and IVV, were lower. Actively-traded Invesco QQQ Trust (QQQ) was down 0.5%.

US stocks declined ahead of the inflation report Wednesday that's forecast to show prices hit a decade high in April, pushing up government bond yields as well as the so-called fear index VIX.

Energy

iShares US Energy ETF (IYE) was down 2.3% and Energy Select Sector SPDR (XLE) was down 2.4%.

Technology

Technology Select Sector SPDR ETF (XLK) was 0.6% lower, iShares US Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM) were lower.

SPDR S&P Semiconductor (XSD) was up 0.1%, and iShares PHLX Semiconductor (SOXX) was down 0.7%.

Financial

Financial Select Sector SPDR (XLF) was down 1.5%. Direxion Daily Financial Bull 3X shares (FAS) was down 4.3% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was up 4.2%.

Commodities

Crude was fractionally lower; United States Oil Fund (USO) was up 0.3%. Natural gas was fractionally higher and the United States Natural Gas Fund (UNG) gained 0.2%.

Gold was down 0.2%, and SPDR Gold Shares (GLD) was down 0.2%. Silver rose 0.5% and iShares Silver Trust (SLV) was 0.7% firmer.

Consumer

Consumer Staples Select Sector SPDR (XLP) was down 1%; Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK) were lower.

Consumer Discretionary Select Sector SPDR (XLY) was down 1.6%; retail funds VanEck Vectors Retail ETF (RTH) and SPDR S&P Retail (XRT) were lower.

Health Care

Health Care Select Sector SPDR (XLV) was down 0.9% and other funds iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) were lower. Biotech ETF iShares NASDAQ Biotechnology ETF (IBB) was up 0.5%.

Industrial

Select Sector SPDR-Industrial (XLI) fell 1.8% while other industrial funds iShares Trust Dow Jones U.S. Industrial Sector Index Fund (IYJ), and Vanguard Industrials (VIS) were lower in midday trading.