Monday Sector Leaders: Energy, Technology & | U.S. Finance News
In afternoon trading on Monday, Energy stocks are the best performing sector, increased by 1.3%. Within that group, Coterra Energy Inc (Symbol: CTRA) and Devon Energy Corp. (Symbol: DVN) are two massive stocks main the best way, displaying a gain of 3.1% and three.0%, respectively. Among power ETFs, one ETF following the sector is the Energy Select Sector SPDR ETF (Symbol: XLE), which is up 1.0% on the day, and down 3.01% year-to-date. Coterra Energy Inc, in the meantime, is down 0.16% year-to-date, and Devon Energy Corp., is down 4.06% year-to-date. Combined, CTRA and DVN make up roughly 2.9% of the underlying holdings of XLE.
The subsequent best performing sector is the Technology & Communications sector, dropping simply 0.1%. Among massive Technology & Communications stocks, Micron Technology Inc. (Symbol: MU) and Broadcom Inc (Symbol: AVGO) are essentially the most notable, displaying a gain of 3.7% and a couple of.8%, respectively. One ETF carefully monitoring Technology & Communications stocks is the Technology Select Sector SPDR ETF (XLK), which is up 0.6% in noon trading, and up 0.04% on a year-to-date foundation. Micron Technology Inc., in the meantime, is up 16.56% year-to-date, and Broadcom Inc is up 7.60% year-to-date. Combined, MU and AVGO make up roughly 6.4% of the underlying holdings of XLK.
Comparing these stocks and ETFs on a trailing twelve month foundation, beneath is a relative stock price efficiency chart, with every of the symbols proven in a completely different shade as labeled within the legend on the backside:
Here’s a snapshot of how the S&P 500 parts within the varied sectors are faring in afternoon trading on Monday. As you possibly can see, one sector is up on the day, whereas eight sectors are down.
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%
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The views and opinions expressed herein are the views and opinions of the writer and don’t essentially mirror these of Nasdaq, Inc.
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