Wednesday Sector Leaders: Technology & Communications, Energy

The best performing sector as of midday Wednesday is the Technology & Communications sector, up 2.0%. Within that group, KLA Corp (Symbol: KLAC) and Broadcom Inc (Symbol: AVGO) are two of the day’s stand-outs, showing a gain of 6.9% and 6.7%, respectively. Among technology ETFs, one ETF following the sector is the Technology Select Sector SPDR ETF (Symbol: XLK), which is up 3.2% on the day, and down 10.01% year-to-date. KLA Corp, meanwhile, is down 8.05% year-to-date, and Broadcom Inc, is down 14.35% year-to-date. Combined, KLAC and AVGO make up approximately 2.9% of the underlying holdings of XLK.

The next best performing sector is the Energy sector, up 1.5%. Among large Energy stocks, Occidental Petroleum Corp (Symbol: OXY) and ONEOK Inc (Symbol: OKE) are the most notable, showing a gain of 2.8% and 2.7%, respectively. One ETF closely tracking Energy stocks is the Energy Select Sector SPDR ETF (XLE), which is up 1.1% in midday trading, and up 18.94% on a year-to-date basis. Occidental Petroleum Corp, meanwhile, is up 30.41% year-to-date, and ONEOK Inc is up 4.12% year-to-date. Combined, OXY and OKE make up approximately 5.4% of the underlying holdings of XLE.

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, eight sectors are up on the day, while none of the sectors are down.

Sector % Change
Technology & Communications +2.0%
Energy +1.5%
Industrial +1.3%
Healthcare +0.8%
Financial +0.8%
Services +0.7%
Materials +0.7%
Consumer Products +0.2%
Utilities 0.0%

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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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