First Trust Cloud Computing ETF Shines While Oil Sector Struggles

Cloud Computing Stocks Surge, Oil and Gas ETFs Lag Behind

In trading on Wednesday, the First Trust Cloud Computing ETF outperformed its peers, rising approximately 3.6% on the day. Notably, shares of Pure Storage surged about 23.1%, while Salesforce experienced a gain of approximately 9.1%.

In contrast, the SPDR S&P Oil & Gas Exploration & Production ETF faced challenges, dropping around 2.8% in afternoon trading. The weakest performers within this ETF were Texas Pacific Land, down about 9.4%, and Par Pacific Holdings, which fell approximately 6.3%.

VIDEO: Wednesday’s ETF Movers: SKYY, XOP

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