Select Sector Spider Wrap Up (XLE, XLB, XLK, XLV, XLP, AAPL, BIIB, IBM, KFT, PFE)
Published on Monday, 11 April 2011 18:57 Written by Gerard Lerod
New York, April 11th (TradersHuddle.com) – Stocks finished mixed, with the Dow finishing flat and the NASDAQ and S&P 500 ending with modest losses despite a pull back in oil and more M&A deals, as buying interest was impacted by modest weakness overseas. Participants turned cautious as focus turned to a new earnings season.
The S&P 500 Index fell 3.71 points, or 0.28% to 1324.46, with the Energy Select Sector Spider ETF (NYSE:XLE) posting the biggest percentage decline among the key S&P 500 Select Sector Spider ETFs.
The Energy Select Sector Spider (NYSE:XLE) fell 1.97% to $78.15 as oil closed below $110 per barrel on reports that Libyan dictator Muammar Gaddafi accepted the Arab League road map to peace.
Another sector posting significant gains was the materials sector. The Materials Select Sector Spider (NYSE:XLB) lost 1.12% to $39.75 as profit taking hit the sector, with silver prices giving up most of their overnight gains, falling from a fresh 31-year high.
Technology, which has the biggest weight among the sectors in the broad market index also dragged, with the Technology Select Sector Spider (NYSE:XLK) falling 0.15% to $25.89. The XLK closed 5.29% above calculated support at $24.52, as its biggest components, Apple (NASDAQ:AAPL), the maker of iPads and iPhones, and IBM (NYSE:IBM), the IT solutions and consulting services provider, fell. Apple lost 1.27% to $330.80, as the stock continues to be haunted by concerns regarding supply disruptions and changes to its weighing in the NASDAQ-100 index.
And IBM slid 0.06% to $163.95, after it was downgraded to a Hold from Buy at Canaccord Genuity.
Meanwhile, the Healthcare Select Sector Spider (NYSE:XLV) gained 0.57% to $33.51, closing very near its calculated resistance at $33.55. Pfizer (NYSE:PFE), the world’s largest pharmaceutical company and biggest holding in the XLV, climbed 1.03% to $20.67, posting one of the biggest percentage gains in the Dow Jones Industrial Average.
Another holding in the Healthcare spider, Biogen Idec (NASDAQ:BIIB), the Cambridge, Massachusetts based biotechnology company focusing on neurology, oncology, and immunology, surged 7.18% to $78.55, posting the biggest percentage gain in the NASDAQ-100 and the S&P 500 index, after it provided a positive top-line results from the first phase 3 trial investigating oral BG-12 in multiple sclerosis.
The Consumer Staples Select Sector Spider (NYSE:XLP) posted the second biggest percentage gain among the Select Sector Spiders. The XLP added 0.53% to $30.41, as one of its top holdings, Kraft (NYSE:KFT), the maker of Velveeta cheese and Oreo cookies, gained 1.14% to $32.03, posting the second biggest percentage gain in the blue chip index.
- AT&T And America Movil To Provide Deeper National Reach For Advanced Enterprise Services Across Latin America
- AT&T 4G LTE Available In Willimantic
- AT&T 4G LTE Available In Torrington
- AT&T And The University Of Kansas Team Up To Enhance Wireless Coverage On Lawrence Campus
- AT&T 4G LTE Available In Fargo
- AT&T 4G LTE Available In Amarillo
- Benefitfocus Announces Pricing of Initial Public Offering
- Trends of China Gear Industry 2013 Analysis & Reviewed in New Research Report at RnRMarketResearch.com
- Product Launch Formula 4.0 Bonuses Total $5000 at BrianHanson.com
- Datex Presents Motorola Solutions Webinar “Is It ‘Smart’ to Use Smartphones for the Enterprise?”
Related Partner Headlines
Recent Trading Ideas
Latest Partner Headlines
Dow JonesCompany ID [INDEXDJX:.DJI] Last trade:17,757.91 Trade time:4:41PM EDT Value change: (%)
S&P 500Company ID [INDEXSP:.INX] Last trade:2,077.42 Trade time:4:41PM EDT Value change: (%)
NASDAQCompany ID [INDEXNASDAQ:.IXIC] Last trade:5,013.12 Trade time:5:15PM EDT Value change:▲26.26 (0.53%)
In The Wires
GW Pharmaceuticals Commences Phase 1 Clinical Trial of GWP42006 as a Potential Treatment for Epilepsy
NTT Communications and JBA's SDN Project Wins IBC 2013 Innovation Award
Frost & Sullivan Honours Interactive Intelligence with its EMEA Contact Centre Company of the Year Award
AT&T And America Movil To Provide Deeper National Reach For Advanced Enterprise Services Across Latin America
$500,000 Shopify Build a Business Competition Has Just Been Announced for 2013
Solomon Associates Hydrocarbon Loss Reduction Seminar Shares Practices that Lead to Significant Savings
AT&T 4G LTE Available In Willimantic
AT&T 4G LTE Available In Torrington