June 7, 2023

Tuesday Sector Leaders: Energy, Financial

In afternoon trading on Tuesday, Energy stocks are the best performing sector, up 3.8%. Within the sector, Coterra Energy Inc (Symbol: CTRA) and Occidental Petroleum Corp (Symbol: OXY) are two large stocks leading the way, showing a gain of 7.3% and 7.0%, respectively. Among energy ETFs, one ETF following the sector is the Energy Select Sector SPDR ETF (Symbol: XLE), which is up 3.5% on the day, and up 6.67% year-to-date. Coterra Energy Inc, meanwhile, is up 10.53% year-to-date, and Occidental Petroleum Corp is up 14.66% year-to-date. Combined, CTRA and OXY make up approximately 4.6% of the underlying holdings of XLE.

The next best performing sector is the Financial sector, higher by 2.0%. Among large Financial stocks, Raymond James Financial Inc (Symbol: RJF) and The Charles Schwab Corporation (Symbol: SCHW) are the most notable, showing a gain of 5.3% and 5.2%, respectively. One ETF closely tracking Financial stocks is the Financial Select Sector SPDR ETF (XLF), which is up 2.7% in midday trading, and up 3.92% on a year-to-date basis. Raymond James Financial Inc, meanwhile, is up 8.24% year-to-date, and The Charles Schwab Corporation is up 7.31% year-to-date. Combined, RJF and SCHW make up approximately 3.5% of the underlying holdings of XLF.

Comparing these stocks and ETFs on a trailing twelve month basis, below is a relative stock price performance chart, with each of the symbols shown in a different color as labeled in the legend at the bottom:

Preferred Stock Channel

Here’s a snapshot of how the S&P 500 components within the various sectors are faring in afternoon trading on Tuesday. As you can see, seven sectors are up on the day, while two sectors are down.

Sector % Change
Energy +3.8%
Financial +2.0%
Consumer Products +1.8%
Materials +1.6%
Industrial +1.3%
Services +0.3%
Utilities +0.3%
Technology & Communications -1.3%
Healthcare -1.5%

25 Dividend Giants Widely Held By ETFs »

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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