SPY ETF Gains Amid Sector Divergence as Tech Stocks Weigh
The SPDR S&P 500 ETF Trust (SPY) edged up 0.23% on Tuesday, buoyed by a relief rally fueled by Optimism over a potential resolution to the U.S. government shutdown. Healthcare, Energy, and Consumer Staples sectors led gains, while Technology stocks—particularly Nvidia (NVDA)—dragged on performance.
Market breadth narrowed as the S&P 500 Index ROSE 0.21%, contrasting with the Nasdaq 100's 0.31% decline. Federal Reserve commentary, government shutdown developments, and earnings reports from Cisco and Disney loom as near-term catalysts for volatility.
Investors continue favoring the ETF with $3 billion in net inflows over five days, though retail sentiment remains neutral. Hedge funds appear to be accumulating positions, suggesting institutional confidence despite sectoral headwinds.
