Technology and Financial Sectors Lead Market Gains This Week

As of midday Monday, the Technology & Communications sector stands out among others, climbing by 1.7%. Notably, Advanced Micro Devices Inc (Symbol: AMD) and Monolithic Power Systems Inc (Symbol: MPWR) are showing impressive gains, with AMD up 7.2% and MPWR up 5.8%. Among the technology exchange-traded funds (ETFs), the Technology Select Sector SPDR ETF (Symbol: XLK) is up 1.6% today, despite a year-to-date decline of 6.49%. Year-to-date, AMD has decreased by 5.56%, while MPWR has increased by 5.87%. Combined, these two stocks account for roughly 2.4% of the underlying holdings of XLK.

The Financial sector also performs well, increasing by 1.6%. Within this category, Texas Pacific Land Corp (Symbol: TPL) and KKR & CO Inc (Symbol: KKR) are the standout performers, with gains of 4.6% and 3.9% respectively. The Financial Select Sector SPDR ETF (Symbol: XLF), which closely tracks Financial stocks, is up 1.1% in midday trading and has increased by 3.45% on a year-to-date basis. Year-to-date performance for TPL shows an impressive rise of 20.57%, while KKR has decreased by 18.05%. Notably, KKR represents approximately 1.1% of the holdings in XLF.

For a deeper look at stock performance, please refer to the relative Stock price performance chart below. Each symbol is color-coded for easy identification:

In the broader market, a glance at the S&P 500 components reveals positive activity in various sectors during afternoon trading on Monday. As observed, all sectors are showing upward movement, marking a strong trading day.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.