Technology & Communications Lead the Market at Midday
As midday Monday unfolds, Technology & Communications stocks are showing strong performance, up 0.7%. Leading this sector are Broadcom Inc (Symbol: AVGO) and Advanced Micro Devices Inc (Symbol: AMD), which have gained 5.8% and 4.6%, respectively. The Technology Select Sector SPDR ETF (Symbol: XLK), which measures this sector, has also risen, up 0.8% for the day and 24.11% year-to-date. Year-to-date, Broadcom Inc has surged by 110.14%, while Advanced Micro Devices Inc is down 15.39%. Notably, AVGO and AMD together account for about 7.9% of XLK’s holdings.
Energy Sector Also Sees Gains
The Energy sector follows closely behind, with a gain of 0.5%. Among significant Energy stocks, APA Corp (Symbol: APA) and EQT Corp (Symbol: EQT) have increased by 2.0% and 1.5%, respectively. The Energy Select Sector SPDR ETF (XLE), which tracks this sector, is down 0.6% this afternoon but has grown 2.38% year-to-date. Year-to-date, APA Corp’s stock has declined by 37.39%, while EQT Corp has improved by 14.48%. Together, APA and EQT represent approximately 2.6% of XLE’s holdings.
Below is a chart illustrating the relative stock price performance of these stocks and ETFs over the past twelve months:
S&P 500 Sector Performance Overview
A snapshot of the S&P 500 sectors shows that, as of Monday afternoon, three sectors are up, while five sectors are down.
| Sector | % Change |
|---|---|
| Technology & Communications | +0.7% |
| Energy | +0.5% |
| Financial | +0.2% |
| Utilities | -0.0% |
| Healthcare | -0.1% |
| Materials | -0.2% |
| Industrial | -0.3% |
| Consumer Products | -0.4% |
| Services | -0.6% |
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Additional Resources:
● DividendRank Canada
● WNEB Insider Buying
● BVSN Videos
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
