‘Re-opening’ sector ETFs rally Tuesday as ‘work-from-home’ plays lag

/ / News

Economically sensitive sector funds outperformed those that have done well during the coronavirus pandemic Tuesday, as investors continued to look forward to the post-lockdown world. The Energy Select Sector SPDR Fund was 3.5% higher late morning, making it the biggest gainer among the exchange-traded funds that track the 11 sectors of the S&P 500. The Consumer Discretionary Select Sector SPDR Fund gained 1.6%, and the Financial Select Sector SPDR Fund was up 1.2%. The day’s biggest loser was the Communication Services Select Sector SPDR Fund , down nearly 1%, which contains stocks that enabled remote work through the pandemic, as well as social-media giants like Facebook Inc. , which have faced criticism over their handling of content blamed for contributing to election-related violence.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.