Tuesday Sector Leaders: Technology & Communications, HealthcareBy Market News Video Staff, Tuesday, May 10, 2:30 PM ETIn afternoon trading on Tuesday, Technology & Communications stocks are the best performing sector, up 1.8%. Within that group, Fortinet Inc (NASDAQ:FTNT) and Microchip Technology Inc (NASDAQ:MCHP) are two large stocks leading the way, showing a gain of 8.6% and 6.9%, respectively. Among technology ETFs, one ETF following the sector is the Technology Select Sector SPDR ETF (NYSE:XLK), which is up 2.7% on the day, and down 20.03% year-to-date. Fortinet Inc, meanwhile, is down 25.90% year-to-date, and Microchip Technology Inc, is down 20.78% year-to-date. Combined, FTNT and MCHP make up approximately 0.8% of the underlying holdings of XLK. The next best performing sector is the Healthcare sector, up 0.9%. Among large Healthcare stocks, Biogen Inc (NASDAQ:BIIB) and Incyte Corporation (NASDAQ:INCY) are the most notable, showing a gain of 4.9% and 4.2%, respectively. One ETF closely tracking Healthcare stocks is the Health Care Select Sector SPDR ETF (XLV), which is up 0.8% in midday trading, and down 9.20% on a year-to-date basis. Biogen Inc, meanwhile, is down 18.01% year-to-date, and Incyte Corporation is up 3.11% year-to-date. Combined, BIIB and INCY make up approximately 0.9% of the underlying holdings of XLV. 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: 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, five sectors are up on the day, while three sectors are down.
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