Last night's midterms have caused an earthquake in the market, with areas like Energy, Semis, and Industrials getting crushed, while sectors tied to the consumer are rallying.
As shown below, the Energy sector (XLE) is down more than 5% on the day, while Semis (SMH) and Industrials (XLI) are both down sharply as well. On the flip side, seven sectors are up more than 2%, led by Consumer Discretionary (XLY) and Consumer Staples (XLP), both up more than 3.5%.
International equities are loving last night's election results, with country ETFs like China (MCHI), Hong Kong (EWH), Italy (EWI), Spain (EWP), the UK (EWU), Germany (EWG), and France (EWQ) all up more than 3%. The one country ETF that's down is Israel (EIS), which is lower by a little less than 1%.
For a broader look at today's action, below is a snapshot of our key ETF performance matrix. The Dow 30 (DIA) is leading the way among major index ETFs with a 3% gain, its best day since April 9th, 2025 when President Trump announced a 90-day pause on tariffs that he announced a few days prior.
Along with stocks, Bitcoin (IBIT), gold (GLD), and silver (SLV) are all rallying, while oil (USO) and the broader commodities ETF (DBC) are sharply lower. Treasury ETFs are slightly higher with the exception of the inflation-protected TIP ETF.
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