TAN Plunges; BKIV Climbs as ETFs React to Inflation Data
- • News
Solar ETF hit by First Solar downgrade; innovation fund gains on Celsius surge.
ETFs showed mixed results Thursday afternoon as a higher-than-expected inflation rattled markets.
The Invesco Solar ETF (TAN) plummeted 3.6% after Jefferies lowered its price target for First Solar, warning of disappointing current-quarter earnings due to delays. The solar stock’s 9.5% drop, its worst day since July, dragged down other solar power firms like Enphase Energy and SolarEdge Technologies.
On a brighter note, the BNY Mellon Innovators ETF (BKIV) rose 0.6% as Celsius Holdings surged nearly 13%. The energy drink marker received positive commentary from several research firms following a conference, boosting the thematic ETF’s performance.
The U.S. Robotics & AI ETF REX AI Equity Premium Income ETF (AIPI) gained 0.1% after CrowdStrike Holdings advanced 5.2%. RBC Capital’s designation of the cybersecurity provider as a top software pick for 2025 lifted the AI-focused fund.
Meanwhile, the YieldMax PYPL Option Income Strategy ETF (PYPY) dipped 0.5% as PayPal Holdings shares tumbled 2.9%. Bernstein’s downgrade of PayPal stock to market perform from outperform affected the ETF, which holds 89.8% PayPal Stock.
DBO, USO jumped were up more than 3% in early Thursday afternoon trading.
Major oil exchange-traded funds were climbing in early Thursday afternoon trading as oil prices surged.
The Invesco DB Oil fund (DBO) and United States Oil Fund LP (USO) were both recently up about 3.5%. The United States 12 Month Oil Fund LP (USL) and Defiance Oil Enhanced Options Income ETF (USOY) rose 2.8% and 2%, respectively.
The gains came as the price of Brent and West Texas Intermediate crude oils both climbed about 4% less than a day after Hurricane Milton's full force battered Florida, unsettling oil traders already nervous about escalating tensions in the Middle East that could disrupt supply routes from the Persian Gulf.
A day after hitting record highs, the S&P 500 and Dow Jones Industrial Average were both down about .3% as investors weighed an unexpected uptick in the Consumer Price Index, the widely watched inflation gauge. The tech-heavy Nasdaq inched down more about .15%.
Meanwhile, spot crypto funds were trading in negative territory with BlackRock's iShares Bitcoin Trust (IBIT) and the Grayscale Bitcoin Trust (GBTC) both off more than 3%.
Core CPI at 2.4% Topped Expectations, Keeping Rate Cuts in Holding Pattern.
Stock and bond ETFs sagged Thursday morning after a key inflation report coming in hotter than expected further reduced hopes for large interest rate cuts.
The broad SPDR S&P 500 ETF Trust (SPY), the world's largest exchange-traded fund with more than a half-trillion dollars in assets, slid 0.2% before noon New York time. The narrower SPDR Dow Jones Industrial Average ETF Trust (DIA), which tracks the 30 largest stocks, lost 0.2%. The Nasdaq-tracking Invesco QQQ Trust (QQQ), which had been gaining all week, lost 0.1%.
Core consumer prices rose 0.3% in September, 0.1% more than expected. Inflation, as measured by the consumer price index's year-over-year comparison, was at 2.4%, versus expectations for 2.3%.
Markets are expecting an 0.25% interest rate cut when the Federal Reserve meets next month.
Big bond ETFs also dipped as treasury yields were mixed. The iShares 20+ Year Treasury Bond ETF (TLT) lost 0.6% and the Vanguard Total Bond Market ETF (BND) lost 0.1%.
Commodities performed better. The iShares Silver Trust (SLV) added 1.1% while the SPDR Gold Trust (GLD) added 0.5% and the United States Oil Fund (USO) jumped 2.5%.
Related Stories




Related Media



