Friday’s Sector Leaders: Industry, Technology and Telecommunications
Looking at the best-performing sectors as of Friday noon, industrial stocks outperformed other sectors, down just 1.1%. Within the sector, Generac Holdings Inc (symbol: GNRC) and Alaska Air Group, Inc. (symbol: ALK) are the two big stocks with gains of 1.0% and 0.7% respectively.in Industrial ETFs, and one ETF following the sector is the Industrial Select Sector SPDR ETF (symbol: XLI), which is down 0.9% in a single day and down 6.66% year-to-date. Meanwhile, Generac Holdings Inc. is down 73.33% year-to-date and Alaska Air Group, Inc. is down 15.47% year-to-date. Together, GNRC and ALK constitute approximately 0.4% of XLI’s underlying holdings.
The second best performing sector is Technology & Communications, down just 1.3%. Among the large tech and communications stocks, Adobe Inc (symbol: ADBE) and T-Mobile US Inc (symbol: TMUS) were the most notable, posting gains of 3.2% and 1.0% respectively. One of his ETFs that closely tracks technology & communications stocks is the Technology Select Sector SPDR ETF (XLK). Meanwhile, Adobe Inc is down 40.20% year-to-date and T-Mobile US Inc is up 22.06% year-to-date. ADBE accounts for approximately 2.0% of XLK’s underlying assets.
Comparing these stocks and ETFs on a historical 12-month basis, we see the relative stock performance chart below. Each symbol is displayed in a different color as shown in the legend below.
Here’s a snapshot of how the S&P 500 components within various sectors performed in Friday afternoon trading. As you can see, none of the sectors are up today, but nine are down.
|technology and communication||-1.3%|
• Top 10 hedge funds holding SHAG
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https://www.nasdaq.com/articles/friday-sector-leaders:-industrial-technology-communications Friday’s Sector Leaders: Industry, Technology and Telecommunications