The Rally's Impact on the Best and Worst Performing Sectors
Following a 4-week rally with all major indices up over 20%, the markets traded lower as of midday Monday, weighed by on-going concerns over the health of the financial sector. Despite four weeks of steep gains, financials, industrials, and utilities companies remain deep in the red year-to-date, recording losses over 10%.
Within the S&P 500, the Financial sector takes the number 1 spot to the downside year-to-date, with a loss of 25%. Companies such as Citigroup , Bank of America , and Capital One Financial , rallied in the past four weeks with gains north of 160%, 96%, and 46%, respectively. However, the shares of all three companies continue to trade down roughly 50% YTD.
Out of all sectors in the S&P 500, only two sectors are up year-to-date: Technology is up over 8%, while Materials are up about 1%.
The following tables depict some of the biggest percent gainers and losers within the S&P 500 year-to-date, excluding any companies with a share value below $5.*
Information Technology: up over 8%
Financials: down about 25%