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Tech and Energy Sank While Most Sectors Rose

Sector Funds, Daily Change %, Nov 2

  1. Consumer DiscretionaryStrongest+ 2.41%XLY
  2. Financials+ 1.86%XLF
  3. Materials+ 1.76%XLB
  4. Consumer Staples+ 1.58%XLP
  5. Industrials+ 1.38%XLI
  6. Real Estate+ 1.09%XLRE
  7. Utilities+ 0.55%XLU
  8. Communication Services+ 0.36%XLC
  9. Health Care− 0.15%XLV
  10. Technology− 2.95%XLK
  11. EnergyWeakest− 3.96%XLE

What It Shows

Eight of 11 sector funds finished higher on Nov. 2, but technology fell 2.95% and energy dropped 3.96%. Energy tracked a 7.08% slide in the crude oil fund. In tech, the damage was concentrated in AI infrastructure names: Lumentum lost 18.59%, Marvell 12.72% and Oracle 8.76%. That was enough to pull the tech-heavy Nasdaq 100 down 1.36%, even though 350 stocks across the S&P 500, Nasdaq 100 and Dow universe advanced and only 158 declined. Consumer discretionary led with a 2.41% gain, followed by financials at 1.86%. In other words, the index losses came from a few heavyweight sectors while the broad market was buying. Apple and Palantir reported after the close; their results are the next thing to watch for direction in tech.

Percentages are close-to-close, from daily trade bars (Alpaca SIP); every figure in the text appears in that day's data.

Not Investment Advice.

The Market That Day

Nov 2 CloseDay's Poster

Indices

  1. Nasdaq 100QQQ− 1.36%
  2. S&P 500SPY− 0.48%
  3. Dow JonesDIA+ 0.43%
  4. Russell 2000IWM− 0.07%

Top Movers

Biggest Gainers

  1. IDXXIDEXX Laboratories, Inc.+ 21.85%
  2. DASHDoordash, Inc.+ 6.19%
  3. CPRTCopart Inc+ 5.97%

Biggest Losers

  1. LITELumentum Holdings Inc.− 18.59%
  2. MRVLMarvell Technology, Inc.− 12.72%
  3. ALABAstera Labs, Inc.− 11.22%

Calendar

There were no economic releases that day.

204 Companies Reported

  • +199

Indices, breadth and top movers come from the same source as the Day's Poster: closing bars for that day and the previous session. Indices are shown through the funds that track them (QQQ, SPY, DIA, IWM); breadth and top movers use today's Nasdaq 100 member list.

Alpaca · SIPUpdated 01:16 NY

To Understand This

What Is an Index?Where the number called the S&P 500 comes from — and why it behaves differently from the Dow.What Is Sector Rotation?Money changing sectors without leaving the market — and how that tracks the economic cycle.