Technology Stocks Shine as Utilities Hold Steady in Midday Trading
As of midday Tuesday, the Technology & Communications sector is standing out, gaining 0.6%, driven largely by impressive performances from Super Micro Computer Inc (Symbol: SMCI), which has surged 32.4%, and NVIDIA Corp (Symbol: NVDA), rising 3.8%. The Technology Select Sector SPDR ETF (Symbol: XLK) is also benefiting, up 0.8% for the day and a notable 20.81% for the year. Overall, Super Micro Computer Inc has achieved a slight 0.30% rise year-to-date, while NVIDIA Corp boasts a striking 193.77% increase over the same period. Together, SMCI and NVDA account for approximately 14.9% of XLK’s holdings.
The Utilities sector follows as the second-best performer, with a modest rise of 0.2%. Within this sector, Vistra Corp (Symbol: VST) stands out with a gain of 2.1%, while Edison International (Symbol: EIX) rose by 1.5%. Tracking these utilities, the Utilities Select Sector SPDR ETF (XLU) has increased by 0.3% today and is up 29.12% year-to-date. This year, Vistra Corp has made an impressive leap, gaining 290.51%, and Edison International has grown by 22.65%. Together, these companies represent about 6.8% of XLU’s holdings.
Looking at the last twelve months, the chart below illustrates the performance of these stocks and ETFs:
In the afternoon trading session, the S&P 500 components show mixed results, with only a few sectors managing gains, leaving six sectors in decline.
| Sector | % Change |
|---|---|
| Technology & Communications | +0.6% |
| Utilities | +0.2% |
| Industrial | -0.0% |
| Materials | -0.1% |
| Consumer Products | -0.2% |
| Services | -0.2% |
| Financial | -0.2% |
| Healthcare | -0.3% |
| Energy | -0.4% |
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