XLC Stock Recent News

State Street Global Advisors have revamped the weighting and rebalancing methodology for their 11 Select Sector SPDR® Funds, significantly impacting funds like XLK and XLC. The new system mitigates extreme rebalancing by capping weights at 24% and ensuring a more balanced distribution among top holdings. These changes aim to lower turnover and create smoother rebalancing, benefiting all Select Sector SPDR ETFs and potentially improving performance.

While the US stock market recovered recent losses, the risk of a downtrend is still high due to lofty valuations. However, the outlook for double-digit growth, rate cuts, and soft landing could drive market higher. As the market can swing either way, investment vehicles like the Communication Services Select Sector SPDR® ETF Fund could be the best option to deal with uncertainty.

To get the latest market news check out finance.yahoo.com Financials (XLF) and Communication Services (XLC) led Friday's sector action as Information Technology (XLK) worked its way into the green by afternoon trading. All three major indexes edged higher following a rally in equities one day prior.

The Communication Services Select Sector SPDR Fund XLC is probably on the radar for investors seeking momentum. The fund just hit a 52-week high and is up 36.6% from its 52-week low of $62.82 per share.

2024 has been a strong year for stock picking and sector rotations, with XLC leading as the best performing sector ETF YTD. XLC is heavily weighted towards META and GOOGL, with the top 10 stocks making up a large portion of the fund. The composition of XLC reflects the convergence between technology, media, and telecom, but may be too disparate for some investors to consider buying.

On Apr 26, 2024, Google-parent Alphabet (GOOGL) officially joined the prestigious $2 trillion club. There are more room for growth.

Look into ETFs with heavy exposure to Alphabet as the tech giant reports better-than-expected first-quarter 2024 results and also announces a cash dividend with plans to uphold a quarterly cash dividend distribution policy.

Meta Platforms (META) beat on both the top and bottom lines but falters on weak revenue and higher spending forecast.

Meta Platforms (META) has a strong chance of beating estimates on earnings and saw positive earnings revision activity, which is generally a precursor to an earnings beat.

The popular social media platform Reddit (RDDT) celebrated a triumphant entry to the New York Stock Exchange on Thursday, with its shares skyrocketing 48% on debut.