S&P tech sector soaring 12.6% in November to lead index sectors this month
The S&P 500 Technology Index is climbing 12.6% in November to lead the 11 main industry sectors that make up the benchmark index. S&P 500 Communications Services is gaining 10.1% in November, followed by Consumer Discretionary (9.8%), Real Estate (8.8%) and Financials (8.4%), all of which are beating the broader S&P 500’s 8.2% advance.
Underperforming sectors are S&P 500 Industrials, up 7.4%, S&P 500 Materials, ahead 6.0%, S&P 500 Health Care, higher by 4.0%, S&P 500 Utilities, up 3.8%, S&P 500 Consumer Staples, ahead 2.4%, and S&P 500 Energy, down 1.4%.
For the full year, technology is up 50.5%, trailed by communication services 50.4% and consumer discretionary 31.9% — all three of which are beating the S&P 500’s 18.2% gain. Utilities are bringing up the rear, falling 12.3% in 2023, while consumer staples are off 5.7%, health care is down 4.8%, energy is lower by 4.4% and real estate by 2.9%.
Stocks making the biggest moves after hours
Check out the companies making headlines after hours:
Autodesk — Autodesk gained more than 4%. The software company exceeded analysts’ third-quarter expectations on the top and bottom lines.
Nordstrom — Shares of the department store chain inched higher by nearly 1% after Nordstrom reported third-quarter revenue of $3.32 billion, lower than analysts’ estimate of $3.40 billion, per LSEG.
Nvidia shares fall in extended trading after earnings results
Nvidia shares moved down 1% in extended trading on Tuesday after the chipmaker reported fiscal third-quarter results that surpassed Wall Street’s predictions. But the company called for a negative impact in the next quarter because of export restrictions affecting sales to organizations in China and other countries.
Here’s how the company did, compared to the consensus among analysts surveyed by LSEG, formerly known as Refinitiv:
Earnings: $4.02 per share, adjusted, vs. $3.37 per share expected
Revenue: $18.12 billion, vs. $16.18 billion expected
Stock futures open lower
Stock futures opened lower Tuesday night. Dow Jones Industrial Average futures fell by 15 points, or 0.04%. S&P 500 futures and Nasdaq 100 futures dipped 0.11% and 0.18%, respectively.