Looking at the sectors faring best as of midday Friday, shares of Technology & Communications companies are outperforming other sectors, up 1.2%. Within the sector, Apple Inc (Symbol: AAPL) and Arista Networks Inc (Symbol: ANET) are two large stocks leading the way, showing a gain of 7.0% and 5.7%, respectively. Among technology ETFs, one ETF following the sector is the Technology Select Sector SPDR ETF (Symbol: XLK), which is up 2.9% on the day, and up 5.51% year-to-date. Apple Inc, meanwhile, is down 3.74% year-to-date, and Arista Networks Inc is up 17.47% year-to-date. Combined, AAPL and ANET make up approximately 22.8% of the underlying holdings of XLK.
The next best performing sector is the Materials sector, higher by 1.2%. Among large Materials stocks, Builders FirstSource Inc. (Symbol: BLDR) and Steel Dynamics Inc. (Symbol: STLD) are the most notable, showing a gain of 4.9% and 3.1%, respectively. One ETF closely tracking Materials stocks is the Materials Select Sector SPDR ETF (XLB), which is up 1.1% in midday trading, and up 5.12% on a year-to-date basis. Builders FirstSource Inc., meanwhile, is up 18.62% year-to-date, and Steel Dynamics Inc. is up 14.60% year-to-date. STLD makes up approximately 2.0% of the underlying holdings of XLB.
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 |
|---|---|
| Technology & Communications | +1.2% |
| Materials | +1.2% |
| Services | +0.9% |
| Financial | +0.7% |
| Industrial | +0.7% |
| Healthcare | +0.5% |
| Consumer Products | +0.4% |
| Utilities | +0.3% |
| Energy | +0.1% |
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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.
