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8 Of 11 Sectors Rise Friday As Growth Leads

Friday’s regular session has eight sectors higher and three lower, with growth sectors holding two of the top three positions. The leaders are clustered, with less than a quarter-point separating the top three sectors.

Market Snapshot

The major averages are higher, with the State Street SPDR S&P 500 ETF Trust (NYSE:SPY) up 1.04% and the Invesco QQQ Trust, Series 1 (NASDAQ:QQQ) 1.53%; the State Street SPDR Dow Jones Industrial Average ETF Trust (NYSE:DIA) is up 0.57% and the iShares Russell 2000 Index Fund (NYSE:IWM) 1.50%. Three sectors outpace the S&P 500.

Leading Sectors

Technology Select Sector SPDR Fund (NYSE:XLK) +1.41%

Among the sector’s large-cap names, Oracle Corp (NYSE:ORCL) is up 4.87%, Broadcom Inc (NASDAQ:AVGO) 3.71% and NVIDIA Corp (NASDAQ:NVDA) 2.55%.

Materials Select Sector SPDR Fund (NYSE:XLB) +1.34%

Among the sector’s large-cap names, Linde PLC (NASDAQ:LIN) is up 2.34%, Air Products and Chemicals Inc (NYSE:APD) 2.25% and Ecolab Inc (NYSE:ECL) 1.34%.

Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY) +1.23%

Among the sector’s large-cap names, Tesla Inc (NASDAQ:TSLA) is up 5.40%, Amazon.com Inc (NASDAQ:AMZN) 1.62% and The Home Depot Inc (NYSE:HD) 0.71%.

Middle Of The Pack

  • Industrial Select Sector SPDR Fund (NYSE:XLI) +0.87%
  • Utilities Select Sector SPDR Fund (NYSE:XLU) +0.80%
  • Real Estate Select Sector SPDR Fund (NYSE:XLRE) +0.76%
  • Communication Services Select Sector SPDR Fund (NYSE:XLC) +0.70%
  • Financial Select Sector SPDR Fund (NYSE:XLF) +0.13%

Lagging Sectors

Consumer Staples Select Sector SPDR Fund (NYSE:XLP) -0.05%

Among the sector’s large-cap names, Coca-Cola Co (NYSE:KO) is down 0.63%, Costco Wholesale Corp (NASDAQ:COST) 0.13%, while PepsiCo Inc (NASDAQ:PEP) is up 0.06%.

Health Care Select Sector SPDR Fund (NYSE:XLV) -0.18%

Among the sector’s large-cap names, Merck & Co Inc (NYSE:MRK) is down 0.56%, Johnson & Johnson (NYSE:JNJ) 0.46% and AbbVie Inc (NYSE:ABBV) 0.14%.

Energy Select Sector SPDR Fund (NYSE:XLE) -0.32%

Among the sector’s large-cap names, ConocoPhillips (NYSE:COP) is down 0.87%, Chevron Corp (NYSE:CVX) 0.67% and ExxonMobil Holdings Corp (NYSE:XOM) 0.62%.

Cross-Sector Takeaway

The 1.73-point spread between Technology and Energy is about the same as the largest move among the major averages, which are up between 0.57% and 1.53%. The major averages are higher in a session where leadership is concentrated in Technology, Materials and Consumer Discretionary. Defensives are not keeping pace — Real Estate sits sixth and Health Care tenth — so the advance is concentrated rather than broad.

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