On Wednesday afternoon, the Financial sector led the market with a 0.5% increase, primarily driven by Apollo Global Management Inc (APO) and Blackstone Inc (BX), which rose by 3.9% and 3.1%, respectively. The Financial Select Sector SPDR ETF (XLF) mirrored this upward trend, gaining 0.5% on the day and 8.08% year-to-date. Notably, both APO and BX are currently down year-to-date by 7.75% and 3.06%, respectively, together comprising about 2.5% of the XLF’s holdings.
The Consumer Products sector followed, increasing by 0.4%. Tesla Inc (TSLA) and J.M. Smucker Co. (SJM) saw gains of 2.9% and 2.0%, respectively. The iShares U.S. Consumer Goods ETF (IYK) also rose by 0.6% on Wednesday, and has gained 7.40% year-to-date. In contrast, TSLA has fallen 20.80% year-to-date, while SJM is down 1.40%.
Overall, six sectors showed positive movement, contrasting with two sectors that declined during midday trading.
