## [# AAPX Dips on iPhone Event; ITA Falls on China, Boeing News](/sections/news/stock-etfs-mixed-dia-nears-record-oil-jumps)
# AAPX Dips on iPhone Event; ITA Falls on China, Boeing News
- • News
2 Updates
[  ](/authors/dj-shaw)
Mon, August 26, 2024 At 4:15 PM EDT
[DJ Shaw ](/authors/dj-shaw) | Finance Reporter | [ Follow Author ](/etf/login)
## Apple-Focused ETFs, Defense & Aerospace Decline
The [**T-Rex 2X Long Apple Daily Target ETF (AAPX)**](/aapx) dropped 0.7% Monday after Apple announced a Sept. 9 event.
The company is expected to unveil new iPhone and Apple Watch Models, featuring larger screens, updated cameras, and “Apple Intelligence” AI capabilities.
China-focused ETFs faced declines following disappointing results from PDD Holdings. The [**Invesco China Technology ETF (CQQQ)**](/cqqq) fell 3.5%, [**ProShares Online Retail ETF (ONLN)**](/onln) dropped 4.3%, and [**Global X MSCI China Consumer Discretionary ETF (CHIQ)**](/chiq) 4%. PDD Holdings, parent of Temu, saw shares plunge 28.5% after reporting revenue below estimates.
U.S. aerospace and defense ETFs also took a hit. The [**iShares U.S. Aerospace & Defense ETF (ITA)**](/ita) dipped 0.3%, while [**Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN)**](/dfen) fell 0.8%.
Boeing’s stock dropped over 1% following NASA’s announcement that two astronauts will remain at the International Space Station until February, with Boeing’s Starliner capsule returning to earth empty.
[  ](/contributors/ron-day)
Mon, August 26, 2024 At 11:45 AM EDT
[Ron Day ](/contributors/ron-day) | Contributing Editor | [ Follow Author ](/etf/login)
## Crypto ETFs Drop After Bitcoin Surge; Tech Slips
The Dow Jones-tracking [**SPDR Dow Jones Industrial Average ETF Trust (DIA)**](/dia) approached an all-time high closing price to start a typically quiet markets week, as investors bet that pending rate cuts next month will further expand the U.S. economy.
DIA added about 0.1%, pairing earlier gains, to $412.26 at about noon Monday. That's above its all-time closing high of $411.83, reached Aug. 23.
The broader S&P 500, as measured by the [**S&P 500 ETF Trust (SPY)**](/spy) slipped after last week's 1.4% gain. SPY lost 0.3%. Tech exchange-traded funds also declined, with the [**Invesco QQQ Trust (QQQ)**](/qqq) dropping a little more than 1%.
Middle East tensions boosted oil prices more than 3%. Hezbollah and Israel exchanged fire as violence escalated in the critical oil production and shipping region. The [**United States Oil Fund LP (USO)**](/uso) added 3%, in spite of recent surveys suggesting rising supplies and slowing demand.
Crypto ETFs slid after the price of bitcoin backed down from nearly $65,000 to trade around $63,650. the [**iShares Bitcoin Trust (IBIT)**](/ibit) lost 0.4% while the [**Grayscale Ethereum Trust (ETHE)**](ethe) shed 0.9%.
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