Energy Stocks Lead Market Gains Amid Mixed Sector Performance
On Monday afternoon, Energy stocks emerged as the top-performing sector, rising by 1.3%. Coterra Energy Inc. (Symbol: CTRA) gained 3.1%, and Devon Energy Corp. (Symbol: DVN) increased by 3.0%. The Energy Select Sector SPDR ETF (Symbol: XLE), which tracks this sector, is up 1.0% today but down 3.01% year-to-date. Coterra Energy is down 0.16% year-to-date, while Devon Energy has declined 4.06% in the same period. Together, CTRA and DVN account for roughly 2.9% of XLE’s holdings.
The Technology & Communications sector follows, decreasing by 0.1%. Notable stocks in this category include Micron Technology Inc. (Symbol: MU), which is up 3.7%, and Broadcom Inc. (Symbol: AVGO), which gained 2.8%. The Technology Select Sector SPDR ETF (XLK) is up 0.6% in midday trading and up 0.04% year-to-date. Year-to-date, Micron is up 16.56%, and Broadcom is up 7.60%. Combined, MU and AVGO represent approximately 6.4% of XLK’s holdings.
A trailing twelve-month performance chart provides a relative comparison of these stocks and ETFs:
Below is a snapshot of the S&P 500 sectors in afternoon trading. Currently, one sector shows gains while eight sectors are experiencing losses.
| Sector | % Change |
|---|---|
| Energy | +1.3% |
| Technology & Communications | -0.1% |
| Materials | -0.2% |
| Utilities | -0.3% |
| Services | -0.5% |
| Financial | -0.5% |
| Healthcare | -0.8% |
| Industrial | -0.8% |
| Consumer Products | -1.1% |
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
