Markets

Monday Sector Leaders: Technology & Communications, Utilities

The best performing sector as of midday Monday is the Technology & Communications sector, higher by 0.1%. Within that group, Etsy Inc (Symbol: ETSY) and Adobe Inc (Symbol: ADBE) are two of the day's stand-outs, showing a gain of 3.7% and 2.7%, respectively. Among technology ETFs, one ETF following the sector is the Technology Select Sector SPDR ETF (Symbol: XLK), which is up 0.5% on the day, and up 10.05% year-to-date. Etsy Inc, meanwhile, is down 3.34% year-to-date, and Adobe Inc is up 11.10% year-to-date. ADBE makes up approximately 2.8% of the underlying holdings of XLK.

The next best performing sector is the Utilities sector, losing just 0.3%. Among large Utilities stocks, Edison International (Symbol: EIX) and Dominion Energy Inc (Symbol: D) are the most notable, showing a gain of 1.2% and 0.7%, respectively. One ETF closely tracking Utilities stocks is the Utilities Select Sector SPDR ETF (XLU), which is down 0.2% in midday trading, and up 5.94% on a year-to-date basis. Edison International, meanwhile, is down 5.57% year-to-date, and Dominion Energy Inc is up 5.24% year-to-date. Combined, EIX and D make up approximately 9.4% 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 Monday. As you can see, one sector is up on the day, while eight sectors are down.

Sector % Change
Technology & Communications +0.1%
Utilities -0.3%
Healthcare -0.3%
Services -0.9%
Financial -0.9%
Industrial -0.9%
Consumer Products -1.3%
Energy -1.3%
Materials -1.9%

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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.

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