Friday Sector Leaders: Technology & Communications, Utilities

The best performing sector as of midday Friday is the Technology & Communications sector, higher by 1.0%. Within that group, Coinbase Global Inc (Symbol: COIN) and International Business Machines Corp (Symbol: IBM) are two large stocks leading the way, showing a gain of 8.7% and 7.5%, respectively. Among technology ETFs, one ETF following the sector is the Technology Select Sector SPDR ETF (Symbol: XLK), which is up 1.7% on the day, and up 26.90% year-to-date. Coinbase Global Inc, meanwhile, is up 41.29% year-to-date, and International Business Machines Corp is up 41.65% year-to-date. IBM makes up approximately 2.4% of the underlying holdings of XLK.

The next best performing sector is the Utilities sector, up 0.7%. Among large Utilities stocks, Constellation Energy Corp (Symbol: CEG) and Vistra Corp (Symbol: VST) are the most notable, showing a gain of 5.8% and 4.2%, respectively. One ETF closely tracking Utilities stocks is the Utilities Select Sector SPDR ETF (XLU), which is up 1.1% in midday trading, and up 22.83% on a year-to-date basis. Constellation Energy Corp, meanwhile, is up 73.49% year-to-date, and Vistra Corp is up 45.10% year-to-date. Combined, CEG and VST make up approximately 13.1% of the underlying holdings of XLU.

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, seven sectors are up on the day, while one sector is down.

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