Energy Only Sector Lower In Tuesday Trading As Defensives Lead

Ten sectors are higher and one is lower in Tuesday’s regular session, with defensive sectors holding two of the top three positions. The leaders are separated rather than clustered, with Health Care, Real Estate and Financials setting a clear pace over the rest of the table.

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

Market Snapshot

The major averages are higher, with the iShares Russell 2000 Index Fund (NYSE:IWM) up 2.03%, the State Street SPDR Dow Jones Industrial Average ETF Trust (NYSE:DIA) 1.30%, the State Street SPDR S&P 500 ETF Trust (NYSE:SPY) 0.66% and the Invesco QQQ Trust, Series 1 (NASDAQ:QQQ) 0.49%. Seven of the 11 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

Health Care Select Sector SPDR Fund (NYSE:XLV) +2.25%

Among the sector’s large-cap names, Eli Lilly and Co (NYSE:LLY) is up 4.68%, Merck & Co Inc (NYSE:MRK) 2.97% and UnitedHealth Group Inc (NYSE:UNH) 2.82%.

Real Estate Select Sector SPDR Fund (NYSE:XLRE) +1.81%

Among the sector’s large-cap names, Public Storage (NYSE:PSA) is up 1.97%, Simon Property Group Inc (NYSE:SPG) 1.73% and Prologis Inc (NYSE:PLD) 1.37%.

Financial Select Sector SPDR Fund (NYSE:XLF) +1.52%

Among the sector’s large-cap names, Bank of America Corp (NYSE:BAC) is up 1.58%, Visa Inc (NYSE:V) 1.30% and JPMorgan Chase & Co (NYSE:JPM) 1.22%.

Middle Of The Pack

• Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY) +1.48%
• Utilities Select Sector SPDR Fund (NYSE:XLU) +1.36%
• Industrial Select Sector SPDR Fund (NYSE:XLI) +0.70%
• Consumer Staples Select Sector SPDR Fund (NYSE:XLP) +0.68%
• Communication Services Select Sector SPDR Fund (NYSE:XLC) +0.50%

Lagging Sectors

Materials Select Sector SPDR Fund (NYSE:XLB) +0.43%

Higher so far but the weakest of the advancing sectors. Among the sector’s large-cap names, Sherwin-Williams Co (NYSE:SHW) is up 1.85%, Newmont Corp (NYSE:NEM) 0.37% and Ecolab Inc (NYSE:ECL) 0.19%.

Technology Select Sector SPDR Fund (NYSE:XLK) +0.37%

Higher so far but trailing the other advancing sectors. Among the sector’s large-cap names, Oracle Corp (NYSE:ORCL) is up 3.42%, Broadcom Inc (NASDAQ:AVGO) 1.10% and NVIDIA Corp (NASDAQ:NVDA) 0.34%.

Energy Select Sector SPDR Fund (NYSE:XLE) -0.94%

Energy is down 0.94%, making it the only sector in the red. Among the sector’s large-cap names, EOG Resources Inc (NYSE:EOG) is down 1.59%, ExxonMobil Holdings Corp (NYSE:XOM) 1.53% and ConocoPhillips (NYSE:COP) 1.18%.

Cross-Sector Takeaway

The 3.19-point spread between Health Care and Energy is around half again as large as the biggest move among the major averages, which are higher between 0.49% and 2.03%. The major averages are higher, masking a session where leadership is concentrated in Health Care and Real Estate. Defensives are leading the advance — Health Care sits at the top of the table and Real Estate is second — an unusual mix for a higher tape.

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