As of midday Friday, the Technology & Communications sector is the best-performing sector, up 2.8%. Robinhood Markets Inc (HOOD) and Coinbase Global Inc (COIN) are driving this growth, with gains of 13.5% and 10.6%, respectively. The Technology Select Sector SPDR ETF (XLK) is also reflecting this trend, up 3.8% on the day but down 2.24% for the year. Year-to-date, Robinhood is down 27.06% and Coinbase has dropped 28.56%.
The Industrial sector follows closely, up 2.3%, with strong performances from United Airlines Holdings Inc (UAL) at 9.0% and Lam Research Corp (LRCX) at 8.9%. The Industrial Select Sector SPDR ETF (XLI) is up 2.6% for the day and up 11.38% year-to-date. UAL has increased by 3.40% and LRCX is up 35.71% this year, with UAL representing approximately 0.7% of XLI’s holdings.
