On Friday afternoon, financial stocks led market gains, up by 1.4%. Notable performers included Wells Fargo (WFC) and JPMorgan Chase (JPM), which rose 6.1% and 5.2%, respectively. The Financial Select Sector SPDR ETF (XLF) increased by 1.9% on the day and is up 24.99% year-to-date. Wells Fargo has gained 26.73% and JPMorgan Chase 34.36% this year, collectively representing approximately 13.2% of XLF’s holdings.
The industrial sector followed closely, rising 1.2%. Key stocks in this sector included W.W. Grainger (GWW) and Generac Holdings (GNRC), which posted gains of 5.6% and 3.2%. The Industrial Select Sector SPDR ETF (XLI) rose by 1.5% and is up 22.12% year-to-date. W.W. Grainger and Generac Holdings are up 31.39% and 32.77% year-to-date, respectively, contributing about 1.4% to XLI’s holdings.
Overall, all nine sectors of the S&P 500 were up during Friday’s trading, with no sectors declining.
