Tech and Consumer ETFs Lead Narrow Advance as Most Sectors Fall
SPY rose 0.42% and QQQ 1.21% on Oct. 19 as XLK and XLY gained, while eight of eleven sector ETFs fell; AMZN led large-cap gainers with a 4.98% rise.
The major U.S. equity ETFs closed mostly higher on Monday, Oct. 19, even as most sectors declined. QQQ rose 1.21% to 718.36 and SPY added 0.42% to 766.48. The small-cap IWM gained 0.31% to 271.28, while DIA was nearly unchanged, slipping 0.03% to 518.92.
Only three of the eleven Select Sector SPDR ETFs closed higher: consumer discretionary (XLY) rose 1.78% to 114.46, technology (XLK) gained 1.36% to 185.96 and materials (XLB) edged up 0.06%. Utilities (XLU) posted the largest decline, falling 2.01% to 41.36, followed by real estate (XLRE, -1.16%), financials (XLF, -0.83%), energy (XLE, -0.65%), industrials (XLI, -0.64%), health care (XLV, -0.60%), consumer staples (XLP, -0.47%) and communication services (XLC, -0.21%).
Among companies valued at $10 billion or more, AMZN led gainers with a 4.98% rise to 262.45. PLTR climbed 4.37% to 194.15, TSLA gained 3.76% to 368.06, ACN rose 3.16% to 236.93 and NOW added 2.39% to 145.36.
Large banks were prominent among decliners. WFC fell 2.47% to 81.80, JPM lost 1.82% to 333.53 and BAC slipped 1.64% to 50.39. PM declined 2.02% to 201.05 and AMGN fell 1.75% to 424.94.
A WSJ headline described U.S. stocks as mostly higher as AI credit worries abated. Another WSJ headline said stock pickers burned by the AI boom think their moment has finally arrived, and a Barron's market wrap was titled "Review & Preview: It's Down to Earnings."
Data
| Instrument | Close | Change |
|---|---|---|
| SPY | 766.48 | +0.42% |
| QQQ | 718.36 | +1.21% |
| DIA | 518.92 | -0.03% |
| IWM | 271.28 | +0.31% |
| XLY | 114.46 | +1.78% |
| XLU | 41.36 | -2.01% |
| AMZN | 262.45 | +4.98% |
| WFC | 81.80 | -2.47% |
Data: FMP, FRED. Figures are close-to-close unless stated.
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Neutral market summary for information only; not investment advice.
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