As of midday Monday, shares in Utilities companies are leading the market with a 1.6% gain. PG&E Corp (PCG) is up 4.8% and Constellation Energy Corp (CEG) is up 4.6%. The Utilities Select Sector SPDR ETF (XLU) has gained 1.6% on the day and is up 16.68% year-to-date, despite PCG being down 26.34% in 2023 and CEG up 59.69% year-to-date. Together, these companies represent approximately 10.7% of XLU’s holdings.
The Healthcare sector follows, up 1.3%, with Idexx Laboratories, Inc. (IDXX) gaining 26.4% and ResMed Inc. (RMD) up 3.9%. The Health Care Select Sector SPDR ETF (XLV) is up 0.9% but down 2.94% year-to-date. IDXX has increased 63.79% year-to-date, while RMD is up 27.30%, combining to make up around 2.0% of XLV’s assets.
Overall, eight sectors are performing positively, with the Energy sector down 0.4% at the close of trading today.
