Consumer Products Rally
Consumer Products companies are leading the charge midday Friday, outshining other sectors with a 0.2% increase. Notably, Tesla Inc (Symbol: TSLA) and Kraft Heinz Co (Symbol: KHC) are propelling the sector with gains of 2.4% and 1.4% respectively. Tracking the sector is the iShares U.S. Consumer Goods ETF (Symbol: IYK) which is showing a modest 0.2% uptick today and a solid 11.20% year-to-date growth. Tesla Inc and Kraft Heinz Co, however, show different trajectories year-to-date, with Tesla down by 15.03% and Kraft Heinz Co down by 2.29%. The Kraft Heinz Co holds around 1.4% of the underlying holdings of IYK.
Tech & Communications Climbing
The Technology & Communications sector is also forging ahead with a 0.2% rise. Intel Corp (Symbol: INTC) and Hewlett Packard Enterprise Co (Symbol: HPE) are notable gainers in this sector, with increases of 7.1% and 2.9% respectively. Keeping pace is the Technology Select Sector SPDR ETF (XLK), up by 0.3% in midday trading and an impressive 13.64% year-to-date growth. Intel Corp is observing a steep 56.34% year-to-date decline, while Hewlett Packard Enterprise Co is up by 14.69% in the same period. Together, INTC and HPE constitute approximately 1.2% of the underlying holdings of XLK.
S&P 500 Sector Snapshot
Turning the focus to the S&P 500 components within various sectors, three are seeing gains while four are experiencing declines in afternoon trading on Friday.
| Sector | % Change |
|---|---|
| Consumer Products | +0.2% |
| Technology & Communications | +0.2% |
| Financial | +0.1% |
| Utilities | 0.0% |
| Industrial | 0.0% |
| Materials | -0.1% |
| Services | -0.2% |
| Healthcare | -0.2% |
| Energy | -0.5% |
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