Cyclicals Lead Sectors In Tuesday Trading As Health Care Trails

Four sectors are higher and seven are lower in Tuesday’s regular session, with cyclical sectors holding two of the top three positions. Materials sits well clear of the lower group, separated by a margin several times wider than any other gap in the table.

Prices as of 11:00 a.m. ET; quotes delayed 15 minutes.

Market Snapshot

The major averages are lower. The State Street SPDR S&P 500 ETF Trust (NYSE:SPY) is down 0.15% and the Invesco QQQ Trust, Series 1 (NASDAQ:QQQ) 0.62%, while the State Street SPDR Dow Jones Industrial Average ETF Trust (NYSE:DIA) is down 0.14% and the iShares Russell 2000 Index Fund (NYSE:IWM) 0.64%, the steepest decline of the group. Five of the 11 sectors outpace the S&P 500.

Leading Sectors

Energy Select Sector SPDR Fund (NYSE:XLE) +1.26%

Among the sector’s large-cap names, Chevron Corp (NYSE:CVX) is up 1.49%, ConocoPhillips (NYSE:COP) 1.46% and ExxonMobil Holdings Corp (NYSE:XOM) 1.25%.

Communication Services Select Sector SPDR Fund (NYSE:XLC) +1.25%

Among the sector’s large-cap names, Meta Platforms Inc (NASDAQ:META) is up 3.34%, Netflix Inc (NASDAQ:NFLX) 0.97% and Alphabet Inc (NASDAQ:GOOGL) 0.78%.

Materials Select Sector SPDR Fund (NYSE:XLB) +0.10%

Among the sector’s large-cap names, Air Products and Chemicals Inc (NYSE:APD) is up 0.96%, Sherwin-Williams Co (NYSE:SHW) 0.59% and Linde PLC (NASDAQ:LIN) 0.58%.

Middle Of The Pack

• Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY) +0.04%
• Financial Select Sector SPDR Fund (NYSE:XLF) -0.04%
• Consumer Staples Select Sector SPDR Fund (NYSE:XLP) -0.16%
• Utilities Select Sector SPDR Fund (NYSE:XLU) -0.22%
• Real Estate Select Sector SPDR Fund (NYSE:XLRE) -0.61%

Lagging Sectors

Technology Select Sector SPDR Fund (NYSE:XLK) -0.65%

Among the sector’s large-cap names, NVIDIA Corp (NASDAQ:NVDA) is down 0.51% and Broadcom Inc (NASDAQ:AVGO) 0.15%, while Oracle Corp (NYSE:ORCL) is up 1.21%.

Industrial Select Sector SPDR Fund (NYSE:XLI) -0.98%

Among the sector’s large-cap names, Caterpillar Inc (NYSE:CAT) is down 3.64%, RTX Corp (NYSE:RTX) 2.58% and Honeywell International Inc (NASDAQ:HON) 0.95%.

Health Care Select Sector SPDR Fund (NYSE:XLV) -1.07%

Among the sector’s large-cap names, Johnson & Johnson (NYSE:JNJ) is down 5.40%, AbbVie Inc (NYSE:ABBV) 1.15% and Merck & Co Inc (NYSE:MRK) 1.13%.

Cross-Sector Takeaway

The 2.33-point spread between Energy and Health Care is more than three times the largest move among the major averages, which are down between 0.14% and 0.64%. Those modest index losses mask a session where leadership is concentrated in Energy and Communication Services. Defensives are not holding up better — Health Care sits at the bottom of the table and Real Estate is fourth from the bottom — so the selling looks broad rather than rotational.

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