October 3, 2023

Wednesday Sector Leaders: Energy, Utilities

In afternoon trading on Wednesday, Energy stocks are the best performing sector, up 0.4%. Within that group, Coterra Energy Inc (Symbol: CTRA) and APA Corp (Symbol: APA) are two large stocks leading the way, showing a gain of 4.6% and 1.6%, respectively. Among energy ETFs, one ETF following the sector is the Energy Select Sector SPDR ETF (Symbol: XLE), which is down 0.1% on the day, and up 13.84% year-to-date. Coterra Energy Inc, meanwhile, is up 17.00% year-to-date, and APA Corp is up 20.90% year-to-date. Combined, CTRA and APA make up approximately 2.7% of the underlying holdings of XLE.

The next best performing sector is the Utilities sector, higher by 0.3%. Among large Utilities stocks, AES Corp (Symbol: AES) and Ameren Corp (Symbol: AEE) are the most notable, showing a gain of 0.9% and 0.8%, respectively. One ETF closely tracking Utilities stocks is the Utilities Select Sector SPDR ETF (XLU), which is up 0.3% in midday trading, and down 2.86% on a year-to-date basis. AES Corp, meanwhile, is down 3.07% year-to-date, and Ameren Corp, is down 1.52% year-to-date. Combined, AES and AEE make up approximately 3.9% of the underlying holdings of XLU.

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:

Canada Stock Channel

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

Sector % Change
Energy +0.4%
Utilities +0.3%
Materials +0.3%
Financial -0.0%
Technology & Communications 0.0%
Industrial -0.1%
Consumer Products -0.2%
Services -0.2%
Healthcare -0.8%

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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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