Exchange-Traded Funds Rise While US Equities Mixed as Short-Term Inflation Expectations Increase

Broad Market Indicators

Broad-market exchange-traded funds, including IWM and IVV, were trading higher. Actively-traded Invesco QQQ Trust (QQQ) was up 0.3%.

US equity indexes traded mixed after midday on Monday as expectations for inflation one year ahead increased, adding to concern near-term price pressures are growing in the economy.

Energy

iShares US Energy ETF (IYE) fell 0.3% and Energy Select Sector SPDR (XLE) edged down 0.2%.

Technology

Technology Select Sector SPDR ETF (XLK) was up 0.7%; iShares US Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM) were higher.

SPDR S&P Semiconductor (XSD) rose 0.7% while iShares Semiconductor (SOXX) gained 0.5%.

Financial

Financial Select Sector SPDR (XLF) was fractionally lower. Direxion Daily Financial Bull 3X shares (FAS) was down 0.3% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was up 0.4%.

Commodities

Crude was up 0.6%; United States Oil Fund (USO) rose 0.6%. Natural gas was up 3.9% and the United States Natural Gas Fund (UNG) increased 3.7%.

Gold was down 1.3% based on Comex, and SPDR Gold Shares (GLD) fell 1.2%. Silver was down 0.1% and iShares Silver Trust (SLV) rose 0.2%.

Consumer

Consumer Staples Select Sector SPDR (XLP) fell 0.2%; Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK) were higher.

Consumer Discretionary Select Sector SPDR (XLY) was fractionally lower; retail funds VanEck Vectors Retail ETF (RTH) and SPDR S&P Retail (XRT) were mixed, with the latter trading higher.

Health Care

Health Care Select Sector SPDR (XLV) fell 0.2% and other funds iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) were lower. Biotech ETF iShares NASDAQ Biotechnology ETF (IBB) was up 0.9%.

Industrial

Select Sector SPDR-Industrial (XLI) fell 0.2% while other industrial funds iShares U.S. Industrials (IYJ), and Vanguard Industrials (VIS) were lower.