The VanEck Morningstar Wide Moat ETF is experiencing price movement influenced by mixed economic data and sector-specific developments. The S&P 500 Index, which includes many of the wide-moat companies tracked by the ETF, is down 0.2% as of 10:17 AM in New York. This decline comes amid traders digesting a US inflation report that met expectations, suggesting a stable yet cautious economic environment. Additionally, the Nasdaq 100's drop of 0.9% indicates pressure on technology stocks, which are often significant components of wide-moat portfolios. The Dow Jones Industrial Average's slight gain of 0.3% highlights the mixed performance across different sectors.
Specific company performances are also impacting the ETF's underlying assets. For instance, Guess shares fell 5.3% after reporting third-quarter revenue below consensus estimates, reflecting challenges in the retail sector. Similarly, 3D Systems saw a 3.5% decline following a year-over-year revenue decrease, missing analyst expectations. These individual stock movements contribute to the broader market sentiment affecting the ETF.
The VanEck Morningstar Wide Moat ETF (MOAT) is currently priced at $98.29, reflecting a 0.25% decrease from the previous close.