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Exchange-Traded Funds Mixed, US Equities Lower After Midday

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Broad Market Indicators

Broad-market exchange-traded fund IWM rose and IVV fell. Actively traded Invesco QQQ Trust (QQQ) gained 0.2%.

US equity indexes fell after the economy added almost triple the jobs expected in August, boosting bets favoring an interest rate increase as early as this month.

Energy

IShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each lost almost 0.6%.

Technology

The State Street Technology Select Sector SPDR ETF (XLK) gained 0.8%; iShares US Technology ETF (IYW) rose 0.4%, and iShares Expanded Tech Sector ETF (IGM) added 0.5%.

The State Street SPDR S&P Semiconductor (XSD) was up 2.7%, while iShares Semiconductor (SOXX) advanced 3.5%.

Financial

The State Street Financial Select Sector SPDR (XLF) slipped 0.6%. Direxion Daily Financial Bull 3X Shares (FAS) declined 1.7%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), advanced 1.8%.

Commodities

Crude oil fell 0.6%, and the United States Oil Fund (USO) lost 0.5%. Natural gas added 1.2%, and the United States Natural Gas Fund (UNG) gained 1%.

Gold on Comex dipped 1.2%, and the State Street SPDR Gold Shares (GLD) fell 0.8%. Silver eased 1.5%, and iShares Silver Trust (SLV) was down 1.3%.

Consumer

The State Street Consumer Staples Select Sector SPDR (XLP) shed 0.4%. The Vanguard Consumer Staples ETF (VDC) fell 0.5%, and iShares Dow Jones US Consumer Goods (IYK) eased 0.5%.

The State Street Consumer Discretionary Select Sector SPDR (XLY) lost 1.4%. The VanEck Retail ETF (RTH) fell 0.2%, and the State Street SPDR S&P Retail (XRT) added 1%.

Healthcare

The State Street Health Care Select Sector SPDR (XLV) dipped 0.9%; iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) were lower as well, and iShares Biotechnology ETF (IBB) shed 0.8%.

Industrial

The State Street Industrial Select Sector SPDR (XLI) rose 0.4%. The Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) also advanced.

Cryptocurrency

In midday activity, bitcoin (BTC-USD) was down 2.1%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) lost 2.5%, ProShares Ether ETF (EETH) fell 2.4%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) slipped 3.4%.

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Update: US Equity Indexes Jump as Sliding Odds for Fed Policy Tightening in September Push Treasury Yields Lower

(Updates with index/price moves, macroeconomic data and company/geopolitical news from the first paragraph.)US equity indexes rose in a broad-based rally as falling odds of the Federal Reserve increasing interest rates later this month pushed government bond yields lower.The Nasdaq Composite rose 1.4% to 26,584.06, the S&P 500 climbed 1.1% to 7,747.71, and the Dow Jones Industrial Average advanced 1.2% to 53,686.11 on Thursday. All sectors rose except energy, materials and consumer staples. Communication services, consumer discretionary and financials topped the gainers.Federal Reserve Governor Christopher Waller said he would be "inclined to support" holding rates steady at the next Federal Open Market Committee meeting in September if the August inflation print shows progress toward the central bank's 2% goal."Yields retreated in reaction to Waller's latest comments," Lindsey Piegza, chief economist at Stifel, said in a note. "The relatively quick and notable reaction in the market to the latest Fed commentary suggests investors were already skeptical of the Fed's intentions to move forward with firmer policy as early as later this month."The probability of the Fed raising its target rate by 25 basis points to 3.75%-4.0% in September slumped to 50% after midday Thursday from 63% a day ago, according to the CME FedWatch tool. The remaining likelihood is that policy will remain on hold.Treasury yields fell, with the 10-year down 2.4 basis points to 4.77% and the two-year lower by 4.6 basis points to 4.34%.Gold futures surged 2.4% to $4,518.3, and silver futures soared 3.2% to $67.53.In company news, Palantir Technologies (PLTR) and PwC expanded their strategic alliance to help enterprises deploy artificial intelligence tools across critical business operations, PwC said Thursday. Palantir shares jumped 7.7%, the top gainer on the S&P 500 and the Nasdaq.Nvidia (NVDA) has agreed to acquire Hugging Face for $12.93 billion, Chief Executive Jensen Huang said in a blog post.Snowflake (SNOW) shares soared 17% as the cloud-based data platform lifted its full-year product revenue outlook. Snowflake could see faster revenue growth as business use of AI increases demand for data products, and strong usage and backlog trends combined with wider AI adoption could push growth above current expectations, UBS said in a note.In geopolitical news, the US and Iran have intensified tit-for-tat military strikes in recent days, remaining locked between ceasefire and all-out war as the White House struggles to end the six-month conflict, Bloomberg reported. Iran said it attacked bases in Kuwait and the United Arab Emirates "in response to America's crimes against the Iranian people," Al Jazeera, a Middle Eastern broadcaster, reported.In economic news, initial jobless claims rose sequentially to 206,000 during the week ended Aug. 29 from an upwardly revised 204,000, compared with expectations for an increase to 205,000 in a Bloomberg-compiled survey. The four-week moving average rose by 1,500 to 207,250.The Institute for Supply Management's US services index rose to 55.4 in August from 54.1 in July, compared with expectations for no change in a survey compiled by Bloomberg. The index now sits at its highest since February, before Operation Epic Fury and the run-up in energy prices from the closure of the Strait of Hormuz, according to a Jefferies note.

Dow JonesNasdaq CompositeS&P 500$NVDA$PLTR$SNOW
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Update: US Equity Indexes Rise as Plunging Fed Policy Tightening Odds Send Treasury Yields Lower

(Updates with index/price moves and company news from the first paragraph.)US equity indexes rose in a broad-based rally as a fall in market expectations for an interest-rate increase this month pushed government bond yields lower.The Nasdaq Composite rose 1.3% to 26,555.7, the S&P 500 climbed 1% to 7,740.9, and the Dow Jones Industrial Average advanced 1.2% to 53,675.5 ahead of Thursday's close. All sectors except energy and materials rose. Communication services, consumer discretionary and financials topped the gainers.Federal Reserve Governor Christopher Waller said he would be "inclined to support" holding rates steady at the next Federal Open Market Committee meeting in September if the August inflation print shows progress toward the central bank's 2% goal."Yields retreated in reaction to Waller's latest comments," Lindsey Piegza, chief economist at Stifel, said in a note. "The relatively quick and notable reaction in the market to the latest Fed commentary suggests investors were already skeptical of the Fed's intentions to move forward with firmer policy as early as later this month."The probability of the Fed raising its target rate by 25 basis points to 3.75%-4.0% in September slumped to 50% after midday Thursday from 63% a day ago, according to the CME FedWatch tool. The remaining likelihood is that policy will remain on hold.Treasury yields fell, with the 10-year down 2.6 basis points to 4.77% and the two-year lower by five basis points to 4.34% in the final leg of trading.In company news, Palantir Technologies (PLTR) and PwC expanded their strategic alliance to help enterprises deploy artificial intelligence tools across critical business operations, PwC said Thursday. Palantir shares jumped 8.1%, the top gainer on the S&P 500 and the Nasdaq.Nvidia (NVDA) has agreed to acquire Hugging Face for $12.93 billion, Chief Executive Jensen Huang said in a blog post.Snowflake (SNOW) shares soared 18% as the cloud-based data platform lifted its full-year product revenue outlook. Snowflake could see faster revenue growth as business use of AI increases demand for data products, and strong usage and backlog trends combined with wider AI adoption could push growth above current expectations, UBS said in a note.

Dow JonesNasdaq CompositeS&P 500$NVDA$PLTR$SNOW
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Update: US Equity Indexes Rise, Treasury Yields Slump Amid Plunging Bets of September Fed Policy Tightening

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes rose as government bond yields slumped amid a fall in market expectations of an interest rate increase as early as this month.The Nasdaq Composite rose 1.3% to 26,555.7, the S&P 500 climbed 1% to 7,740.9, and the Dow Jones Industrial Average advanced 1.2% to 53,675.5. All sectors except materials rose. Communication services, consumer discretionary and financials topped the gainers.Federal Reserve Governor Christopher Waller said he would be "inclined to support" holding rates steady at the next Federal Open Market Committee meeting in September if the August inflation print shows progress toward the central bank's 2% goal.The probability of the Fed raising its target rate by 25 basis points to 3.75%-4.0% in September slumped to 50% after midday Thursday from 63% a day ago, according to the CME FedWatch tool. The remaining likelihood is that policy will remain on hold.Treasury yields fell, with the 10-year down four basis points to 4.75% and the two-year lower by five basis points to 4.34%.Gold futures surged 2.7% to $4,534.7, and silver futures soared 3.4% to $67.67.The US and Iran have intensified tit-for-tat military strikes in recent days, remaining locked between ceasefire and all-out war as the White House struggles to end the six-month conflict, Bloomberg reported. Iran said it attacked bases in Kuwait and the United Arab Emirates "in response to America's crimes against the Iranian people," Al Jazeera, a Middle Eastern broadcaster, reported.The front-month US West Texas Intermediate crude oil contract added 0.7% to $91.62 per barrel, and global benchmark North Sea Brent climbed 0.1% to $95.73 per barrel.In economic news, initial jobless claims rose sequentially to 206,000 during the week ended Aug. 29 from an upwardly revised 204,000, compared with expectations for an increase to 205,000 in a Bloomberg-compiled survey. The four-week moving average rose by 1,500 to 207,250.The Institute for Supply Management's US services index rose to 55.4 in August from 54.1 in July, compared with expectations for no change in a survey compiled by Bloomberg. The index now sits at its highest since February, before Operation Epic Fury and the run-up in energy prices from the closure of the Strait of Hormuz, according to a Jefferies note.The ISM reading is in line with the New York Fed and Dallas Fed's services prints that indicated expansion. The other regional Fed measures indicated contraction.The S&P Global US services index was revised downward to 56.5 in August from the 56.8 flash reading, as expected in a survey compiled by Bloomberg. The August print remains above July's 54.6.In company news, Nvidia (NVDA) has agreed to acquire Hugging Face for $12.93 billion, Chief Executive Jensen Huang said in a blog post.

Dow JonesNasdaq CompositeS&P 500$NVDA