9 Of 11 Sectors Fall As Growth Leads

Monday’s regular session has nine sectors lower and two higher, with growth sectors occupying the top two positions. The leaders are separated rather than clustered, with no single gap clearly standing apart from the other breaks across the table.

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

Market Snapshot

The major averages are mostly higher: the State Street SPDR S&P 500 ETF Trust (NYSE:SPY) is up 0.64% and the Invesco QQQ Trust, Series 1 (NASDAQ:QQQ) 1.59%, while the State Street SPDR Dow Jones Industrial Average ETF Trust (NYSE:DIA) is down 0.01% and the iShares Russell 2000 Index Fund (NYSE:IWM) is up 0.35%. Two sectors outpace the S&P 500. Sectors below are ranked against one another rather than grouped by direction, so a sector can be higher and still rank among the day’s laggards.

Leading Sectors

Technology Select Sector SPDR Fund (NYSE:XLK) +1.85%

Among the sector’s large-cap names, Broadcom Inc (NASDAQ:AVGO) is up 2.37%, NVIDIA Corp (NASDAQ:NVDA) 1.64% and Oracle Corp (NYSE:ORCL) 1.35%.

Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY) +1.37%

Among the sector’s large-cap names, Amazon.com Inc (NASDAQ:AMZN) is up 4.84% and Tesla Inc (NASDAQ:TSLA) 3.34%, while The Home Depot Inc (NYSE:HD) is down 0.36%.

Materials Select Sector SPDR Fund (NYSE:XLB) -0.14%

Among the sector’s large-cap names, Ecolab Inc (NYSE:ECL) is down 1.15%, Sherwin-Williams Co (NYSE:SHW) 0.83% and Newmont Corp (NYSE:NEM) 0.33%.

Middle Of The Pack

• Communication Services Select Sector SPDR Fund (NYSE:XLC) -0.31%
• Financial Select Sector SPDR Fund (NYSE:XLF) -0.40%
• Consumer Staples Select Sector SPDR Fund (NYSE:XLP) -0.50%
• Industrial Select Sector SPDR Fund (NYSE:XLI) -0.52%
• Health Care Select Sector SPDR Fund (NYSE:XLV) -0.65%

Lagging Sectors

Energy Select Sector SPDR Fund (NYSE:XLE) -0.70%

Among the sector’s large-cap names, ConocoPhillips (NYSE:COP) is down 1.23%, SLB Ltd (NYSE:SLB) 1.13% and ExxonMobil Holdings Corp (NYSE:XOM) 0.73%.

Real Estate Select Sector SPDR Fund (NYSE:XLRE) -1.12%

Among the sector’s large-cap names, Prologis Inc (NYSE:PLD) is down 1.44%, American Tower Corp (NYSE:AMT) 1.18% and Public Storage (NYSE:PSA) 1.03%.

Utilities Select Sector SPDR Fund (NYSE:XLU) -1.73%

Among the sector’s large-cap names, Dominion Energy Inc (NYSE:D) is down 1.76%, Southern Co (NYSE:SO) 1.72% and NextEra Energy Inc (NYSE:NEE) 1.68%.

Cross-Sector Takeaway

The 3.58-point spread between Technology and Utilities is more than twice the largest move among the major averages, which range from down 0.01% to up 1.59%. The mostly higher major averages mask a session where leadership is concentrated in Technology and Consumer Discretionary. Defensives are not keeping pace — Utilities sits at the bottom of the table at -1.73% — so the advance is concentrated rather than broad.

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