Looking at the sectors faring best as of midday Friday, shares of Materials companies are outperforming other sectors, up 2.8%. Within that group, Builders FirstSource Inc. (Symbol: BLDR) and Mohawk Industries, Inc. (Symbol: MHK) are two large stocks leading the way, showing a gain of 8.0% and 7.2%, respectively. Among the high volume ETFs, one ETF closely following materials stocks is the Materials Select Sector SPDR ETF (Symbol: XLB), which is up 2.0% on the day, and up 10.58% year-to-date. Builders FirstSource Inc., meanwhile, is up 0.68% year-to-date, and Mohawk Industries, Inc. is up 11.76% year-to-date.
The next best performing sector is the Technology & Communications sector, higher by 2.2%. Among large Technology & Communications stocks, Enphase Energy Inc. (Symbol: ENPH) and Coinbase Global Inc (Symbol: COIN) are the most notable, showing a gain of 10.0% and 6.7%, respectively. One ETF closely tracking Technology & Communications stocks is the Technology Select Sector SPDR ETF (XLK), which is up 1.6% in midday trading, and up 13.44% on a year-to-date basis. Enphase Energy Inc., meanwhile, is down 44.61% year-to-date, and Coinbase Global Inc is up 29.07% year-to-date. ENPH makes up approximately 0.1% of the underlying holdings of XLK.
Comparing these stocks and ETFs on a trailing twelve month basis, below is a relative stock price performance chart, with each of the symbols shown in a different color as labeled in the legend at the bottom:
Here's a snapshot of how the S&P 500 components within the various sectors are faring in afternoon trading on Friday. As you can see, nine sectors are up on the day, while none of the sectors are down.
| Sector | % Change |
|---|---|
| Materials | +2.8% |
| Technology & Communications | +2.2% |
| Industrial | +2.2% |
| Energy | +2.2% |
| Services | +2.1% |
| Financial | +1.9% |
| Consumer Products | +1.7% |
| Healthcare | +1.4% |
| Utilities | +0.6% |
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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.
