Cyclicals Lead Sectors In Wednesday Trading As Defensives Trail
Five sectors are higher and six are lower in Wednesday’s regular session, with cyclical sectors holding two of the top three positions. Technology sits well clear of the rest, separated from the next sector by a margin several times wider than any other gap in the table.
| Sector | Ticker | Price | Change |
|---|---|---|---|
| Technology | XLK | 175.38 | +3.83% |
| Energy | XLE | 63.06 | +1.36% |
| Industrials | XLI | 170.43 | +1.00% |
| Communication Services | XLC | 108.19 | +0.40% |
| Materials | XLB | 52.86 | +0.01% |
| Utilities | XLU | 43.68 | -0.12% |
| Financials | XLF | 58.16 | -0.22% |
| Real Estate | XLRE | 44.45 | -0.31% |
| Consumer Discretionary | XLY | 120.58 | -0.39% |
| Consumer Staples | XLP | 90.39 | -0.70% |
| Health Care | XLV | 187.03 | -0.98% |
Prices as of 11:00 a.m. ET; quotes delayed 15 minutes.
Market Snapshot
The major averages are mostly higher, with the Invesco QQQ Trust, Series 1 (NASDAQ:QQQ) up 2.52%, the State Street SPDR S&P 500 ETF Trust (NYSE:SPY) 1.15% and the iShares Russell 2000 Index Fund (NYSE:IWM) 0.76%, while the State Street SPDR Dow Jones Industrial Average ETF Trust (NYSE:DIA) is down 0.10%. Two of the 11 sectors outpace the S&P 500.
Leading Sectors
Technology Select Sector SPDR Fund (NYSE:XLK) +3.83%
Among the sector’s large-cap names, Oracle Corp (NYSE:ORCL) is up 8.68%, Broadcom Inc (NASDAQ:AVGO) 6.50% and NVIDIA Corp (NASDAQ:NVDA) 4.25%.
Energy Select Sector SPDR Fund (NYSE:XLE) +1.36%
Among the sector’s large-cap names, SLB Ltd (NYSE:SLB) is up 1.95%, ExxonMobil Holdings Corp (NYSE:XOM) 0.95% and EOG Resources Inc (NYSE:EOG) 0.88%.
Industrial Select Sector SPDR Fund (NYSE:XLI) +1.00%
Among the sector’s large-cap names, Caterpillar Inc (NYSE:CAT) is up 2.50% and GE Aerospace (NYSE:GE) 1.08%, while Union Pacific Corp (NYSE:UNP) is down 0.31%.
Middle Of The Pack
- Communication Services Select Sector SPDR Fund (NYSE:XLC) +0.40%
- Materials Select Sector SPDR Fund (NYSE:XLB) +0.01%
- Utilities Select Sector SPDR Fund (NYSE:XLU) -0.12%
- Financial Select Sector SPDR Fund (NYSE:XLF) -0.22%
- Real Estate Select Sector SPDR Fund (NYSE:XLRE) -0.31%
Lagging Sectors
Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY) -0.39%
Among the sector’s large-cap names, McDonald’s Corp (NYSE:MCD) is down 2.68%, Nike Inc (NYSE:NKE) 1.71% and Amazon.com Inc (NASDAQ:AMZN) 1.45%.
Consumer Staples Select Sector SPDR Fund (NYSE:XLP) -0.70%
Among the sector’s large-cap names, PepsiCo Inc (NASDAQ:PEP) is down 1.82%, Walmart Inc (NASDAQ:WMT) 1.17% and Procter & Gamble Co (NYSE:PG) 1.03%.
Health Care Select Sector SPDR Fund (NYSE:XLV) -0.98%
Among the sector’s large-cap names, UnitedHealth Group Inc (NYSE:UNH) is down 1.85%, Merck & Co Inc (NYSE:MRK) 1.73% and Johnson & Johnson (NYSE:JNJ) 1.46%.
Cross-Sector Takeaway
The 4.81-point spread between Technology and Health Care is roughly double the largest move among the major averages, which range from down 0.10% to up 2.52%. The major averages are mostly higher while leadership is concentrated in Technology, Energy and Industrials. Defensives are not keeping pace — Health Care is down 0.98% — so the advance is concentrated rather than broad.
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