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Exchange-Traded Funds Rise as US Equities Advance After Midday

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Broad Market Indicators

Broad-market exchange-traded funds IWM and IVV edged higher. Actively traded Invesco QQQ Trust (QQQ) rose 0.9%.

US equity indexes rose after midday Thursday amid media speculation of a peace deal with Iran to end the war and as the Federal Reserve's preferred inflation rate eased sequentially.

Energy

IShares US Energy ETF (IYE) rose 0.3%, and the State Street Energy Select Sector SPDR (XLE) added 0.1%.

Technology

The State Street Technology Select Sector SPDR ETF (XLK) was 1.7% higher; iShares US Technology ETF (IYW) rose 1.5%, and iShares Expanded Tech Sector ETF (IGM) was up 1.6%.

The State Street SPDR S&P Semiconductor (XSD) advanced 2.1%, and iShares Semiconductor (SOXX) gained 2%.

Financial

The State Street Financial Select Sector SPDR (XLF) fell 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) declined 1.4%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), climbed 1.3%.

Commodities

Crude oil fell 0.5%, and the United States Oil Fund (USO) slipped 0.7%. Natural gas climbed 5.5%, and the United States Natural Gas Fund (UNG) was up 5.9%.

Gold on Comex added 2%, and the State Street SPDR Gold Shares (GLD) rose 1.3%. Silver added 1.3%, and iShares Silver Trust (SLV) was up 1.4%.

Consumer

The State Street Consumer Staples Select Sector SPDR (XLP) lost 0.1%. The Vanguard Consumer Staples ETF (VDC) fell 0.2%, and iShares Dow Jones US Consumer Goods (IYK) was down 0.5%.

The State Street Consumer Discretionary Select Sector SPDR (XLY) rose fractionally. VanEck Retail ETF (RTH) slipped 0.1%, and the State Street SPDR S&P Retail (XRT) climbed 2%.

Healthcare

The State Street Health Care Select Sector SPDR (XLV) rose 1.2%, iShares US Healthcare (IYH) added 1.3%, and Vanguard Health Care ETF (VHT) was up 1.3%. IShares Biotechnology ETF (IBB) gained 1%.

Industrial

The State Street Industrial Select Sector SPDR (XLI) rose 0.1%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were marginally higher.

Cryptocurrency

In midday activity, bitcoin (BTC-USD) fell 1.8%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) dipped 1.9%, ProShares Ether ETF (EETH) lost 2.1%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 2.2% lower.

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US Equity Indexes Edge Higher as Crude Oil Slumps, Tech Giants Take Breather

US equity indexes ground higher amid a slump in crude oil prices as investors parsed ongoing talks to end the war against Iran and as tech mega-cap names consolidated.The Dow Jones Industrial Average traded up 0.4% to 50,644.28 on Wednesday. The Nasdaq Composite edged up less than 0.1% to 26,674.74, and the S&P 500 climbed less than 0.1% to 7,520.36. Both the Nasdaq and the S&P 500 were declining earlier in the day.Consumer discretionary, consumer staples, and communication services topped the gainers at the close. Energy and financials led the decliners. Among the stocks with a market capitalization of more than $200 billion, seven of the ten worst performers were technology companies, led by Qualcomm (QCOM) and Arm (ARM).The memorandum of understanding being negotiated between Tehran and Washington will call for US forces to withdraw from Iran's vicinity and lift the blockade of Iranian ports in return for reopening the Strait of Hormuz to pre-war levels, CNN reported, citing Iranian state television. The US denied claims that maritime traffic through the Strait of Hormuz could return to normal within a month of the Iran deal, Bloomberg reported.During an ongoing Cabinet meeting on Wednesday, President Donald Trump said he won't be rushed into a deal, warning that Iran's efforts to outlast him won't work because he doesn't "care about the midterms," CNN reported."Iran is very much intent; they want very much to make a deal. So far, they haven't gotten there ... We're not satisfied with it, but we will be. Either that, or we'll have to just finish the job," Trump said, without elaborating, according to a report from Reuters. "The deal has got to be perfect," he added, insisting that no single country would have control over Hormuz.West Texas Intermediate crude oil futures sank 4.8% to $89.35, and Brent crude futures slumped 4.7% to $94.91.Most US Treasury yields fell, with the 10-year down one basis point to 4.48%. The two-year slipped 1.5 basis points to 4.04%.In economic news, Redbook US same-store sales jumped 9% from a year earlier in the week ended May 23 after an 8.1% gain in the prior week. "Demand for a wide variety of summer, home and garden, and seasonal apparel products was the main focus for most consumers," Redbook said.The Dallas Federal Reserve's monthly general business services index improved to minus 7.7 in May from minus 9.9 in April, versus the minus 6.0 anticipated.The Richmond Fed's monthly manufacturing index rose to 13 in May from 3 in April, more than the 4 estimate in a Bloomberg-compiled survey.In company news, Boston Scientific (BSX) shares sank 12%, the worst performer on the S&P 500, after Chief Executive Mike Mahoney said at an industry conference that this year has been "a bit more of a challenge" than anticipated. Stifel adjusted its price target on Boston Scientific shares to $75 from $85 while maintaining its buy rating, a move mirrored by Goldman Sachs.Zscaler (ZS) stock plunged 32%, the steepest decline in the Nasdaq, after the company issued a fiscal Q4 revenue outlook that missed analysts' expectations. Zscaler stock remains in the penalty box until further evidence of traction emerges in the security operations business, new sales leader roles are filled, and the operating structure improves, Morgan Stanley said in a research report.In precious metals, gold futures dropped 1.1% to $4,452.1, and silver futures slumped 2.3% to $74.87.

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US Equity Indexes Trade Mixed Amid Sharp Sell-Off in Crude Oil

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Exchange-Traded Funds, US Equities Mixed After Midday

Broad Market IndicatorsBroad-market exchange-traded fund IWM edged higher and IVV fell. Actively traded Invesco QQQ Trust (QQQ) fell 0.3%.US equity indexes traded mixed amid a decline in crude oil prices and government bond yields.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each lost about 1%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) was 1% lower; iShares US Technology ETF (IYW) fell 1%, and iShares Expanded Tech Sector ETF (IGM) was down 0.7%.The State Street SPDR S&P Semiconductor (XSD) declined 2.7%, and iShares Semiconductor (SOXX) eased 2.3%.FinancialThe State Street Financial Select Sector SPDR (XLF) fell 0.9%. Direxion Daily Financial Bull 3X Shares (FAS) declined 2.9%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), climbed up 3%.CommoditiesCrude oil fell 4.2%, and the United States Oil Fund (USO) slipped 3.7%. Natural gas rose 3.9%, and the United States Natural Gas Fund (UNG) was up 4.4%.Gold on Comex dipped 1.2%, and the State Street SPDR Gold Shares (GLD) shed 1.5%. Silver fell 2.1%, and iShares Silver Trust (SLV) eased 3.3%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) gained 1.4%. The Vanguard Consumer Staples ETF (VDC) rose 1.4%, and iShares Dow Jones US Consumer Goods (IYK) was up 1.5%.The State Street Consumer Discretionary Select Sector SPDR (XLY) rose 1.8%. VanEck Retail ETF (RTH) gained 0.7%, and the State Street SPDR S&P Retail (XRT) added 1.5%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) rose 0.2%, iShares US Healthcare (IYH) added 0.2%, and Vanguard Health Care ETF (VHT) was up 0.2%. IShares Biotechnology ETF (IBB) gained 0.4%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) lost 0.1%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were marginally higher.CryptocurrencyIn midday activity, bitcoin (BTC-USD) fell 1.3%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) dipped 1.5%, ProShares Ether ETF (EETH) was down 0.3%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 1% lower.

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