XLC Stock Recent News

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.

The US stock market is expected to continue its bull run in 2024, with analysts predicting the S&P 500 to reach around 5400 points. The Federal Reserve is expected to initiate rate cuts, which will likely add to the bull run and increase market activity. The communication services sector, including top holdings in the XLC ETF such as Meta, Alphabet, and Netflix, is expected to generate strong earnings growth and contribute to the ETF's upside.

Communication Services sector had a strong performance in 2023, led by stocks like Meta Platforms, Netflix, and Alphabet. The Communication Services Select Sector SPDR Fund has outperformed the S&P 500 Index on a trailing 1-year basis. XLC is a beneficiary of tailwinds in the communication services and digital ad stocks, making it a strong long-term prospect.

For investors seeking momentum, Communication Services Select Sector SPDR ETF XLC is probably on the radar. The fund just hit a 52-week high and is up 48.1% from its 52-week low price of $54.71/share.

Capital markets appear content with playing the rate cut waiting game as the S&P 500 continues to rise to new highs. Meanwhile, renewed volatility could make investors reconsider adding an equal weight strategy to their portfolios.

Bargain hunting in a market where the S&P 500 is at record levels may seem like a daunting task, but it's not impossible.

As Reddit prepares for its stock market debut, industry observers eagerly anticipate the platform's future trajectory and its role in the ever-evolving landscape of social media and technology.