Looking at the sectors faring best as of midday Thursday, shares of Utilities companies are outperforming other sectors, higher by 5.7%. Within that group, American Electric Power Co Inc (NYSE:AEP) and PPL Corp (NYSE:PPL) are two of the day's stand-outs, showing a gain of 9.2% and 8.4%, respectively. Among utilities ETFs, one ETF following the sector is the Utilities Select Sector SPDR ETF (NYSE:XLU), which is up 6.3% on the day, and down 15.35% year-to-date. American Electric Power Co Inc, meanwhile, is down 14.56% year-to-date, and PPL Corp, is down 31.70% year-to-date. Combined, AEP and PPL make up approximately 8.2% of the underlying holdings of XLU.
The next best performing sector is the Technology & Communications sector, up 4.3%. Among large Technology & Communications stocks, HP Inc (NYSE:HPQ) and ServiceNow Inc (NYSE:NOW) are the most notable, showing a gain of 9.6% and 9.2%, respectively. One ETF closely tracking Technology & Communications stocks is the Technology Select Sector SPDR ETF (XLK), which is up 3.6% in midday trading, and down 11.99% on a year-to-date basis. HP Inc, meanwhile, is down 17.10% year-to-date, and ServiceNow Inc is up 2.35% year-to-date. Combined, HPQ and NOW make up approximately 1.4% of the underlying holdings of XLK.
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 Thursday. As you can see, nine sectors are up on the day, while none of the sectors are down.
Technology & Communications
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