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On Friday afternoon trading, Energy stocks surged by 2.7%, with Targa Resources Corp (TRGP) and EQT Corp (EQT) leading gains at 4.1% and 3.6%, respectively. The Energy Select Sector SPDR ETF (XLE) rose 2.6% on the day and is up 4.43% year-to-date. Targa is up 7.08% and EQT is up 10.12% year-to-date, together comprising approximately 5.0% of XLE’s holdings.
The Technology & Communications sector followed closely, increasing by 2.4%. Notable stocks in this sector included Sandisk Corporation (SNDK) with a 9.9% gain and Palantir Technologies Inc (PLTR) at 8.3%. The Technology Select Sector SPDR ETF (XLK) moved up 2.5% but remains down 8.47% year-to-date. Year-to-date, Sandisk is up 47.86% and Palantir is up 14.04%, with PLTR accounting for about 2.1% of XLK’s holdings.
Overall, the S&P 500 components across nine sectors were in the green, with no sectors declining during the afternoon session.
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