Dow and Small Caps Rise as Ten of Eleven Sector ETFs Gain
DIA rose 1.05% and IWM 1.66% on Oct. 20 while QQQ dipped 0.10%; health care led ten advancing sector ETFs, and GE was the largest large-cap decliner.
Gains spread across most of the U.S. market on Tuesday, Oct. 20, while technology lagged. The small-cap IWM rose 1.66% to 275.78 and the Dow-tracking DIA gained 1.05% to 524.36. SPY added 0.34% to 769.05, and QQQ slipped 0.10% to 717.63.
Ten of the eleven Select Sector SPDR ETFs closed higher. Health care (XLV) led with a 2.37% gain to 179.82, followed by real estate (XLRE, +1.70%), utilities (XLU, +1.26%), financials (XLF, +1.20%) and consumer discretionary (XLY, +0.91%). Consumer staples (XLP) rose 0.62%, materials (XLB) 0.55%, energy (XLE) 0.25%, communication services (XLC) 0.09% and industrials (XLI) 0.07%. Technology (XLK) was the lone decliner, easing 0.28% to 185.44.
Health care names dominated the large-cap gainers list. LLY rose 3.49% to 1,283.66, AMGN gained 3.29% to 438.94, MRK added 3.25% to 148.30 and UNH climbed 3.04% to 419.26. ADBE led all large-cap gainers with a 3.90% rise to 256.73.
On the downside, GE fell 3.67% to 299.87 on a day it reported quarterly results above consensus estimates. NFLX, which also reported, declined 1.66% to 68.69. META lost 1.59%, ABT fell 1.55% and UBER slipped 1.46%.
A WSJ headline said U.S. stocks were mixed as strong earnings offset AI credit fears, and another WSJ headline said stocks made a U-turn on hopes of U.S.-Iran diplomacy. A Barron's market wrap was titled "Review & Preview: The Broadening Continues."
Data
| Instrument | Close | Change |
|---|---|---|
| SPY | 769.05 | +0.34% |
| QQQ | 717.63 | -0.10% |
| DIA | 524.36 | +1.05% |
| IWM | 275.78 | +1.66% |
| XLV | 179.82 | +2.37% |
| XLK | 185.44 | -0.28% |
| ADBE | 256.73 | +3.90% |
| GE | 299.87 | -3.67% |
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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