Wednesday Sector Leaders: Technology & Communications, Services

Looking at the sectors faring best as of midday Wednesday, shares of Technology & Communications companies are outperforming other sectors, up 0.3%. Within that group, Palo Alto Networks, Inc (Symbol: PANW) and Uber Technologies Inc (Symbol: UBER) are two large stocks leading the way, showing a gain of 4.8% and 3.2%, respectively. Among technology ETFs, one ETF following the sector is the Technology Select Sector SPDR ETF (Symbol: XLK), which is up 0.6% on the day, and down 1.16% year-to-date. Palo Alto Networks, Inc, meanwhile, is up 6.78% year-to-date, and Uber Technologies Inc is up 1.11% year-to-date. PANW makes up approximately 1.1% of the underlying holdings of XLK.

The next best performing sector is the Services sector, up 0.2%. Among large Services stocks, Meta Platforms Inc (Symbol: META) and Lennar Corp (Symbol: LEN) are the most notable, showing a gain of 3.6% and 3.2%, respectively. One ETF closely tracking Services stocks is the iShares U.S. Consumer Services ETF (IYC), which is up 0.6% in midday trading, and down 0.99% on a year-to-date basis. Meta Platforms Inc, meanwhile, is up 4.60% year-to-date, and Lennar Corp is up 2.62% year-to-date. LEN makes up approximately 0.7% of the underlying holdings of IYC.

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 Wednesday. As you can see, four sectors are up on the day, while four sectors are down.

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