Shares of Amazon jumped nearly 8.3% after the e-commerce giant delivered its results. The stock is XLY’s second-largest holding.
To be fair, the Materials Select Sector SPDR (NYSEArca: XLB) and the Health Care Select Sector SPDR (NYSEArca: XLV) have been on tears since October 8. XLB is up 6.6% while XLV is higher by 5.5%.
As for richly valued defensive sectors, their earnings performances may not be setting the world on fire, but the iShares Dow Jones Telecom ETF (NYSEArca: IYZ) and Consumer Staples Select Sector SPDR (NYSEArca: XLP) are among the top performing sector ETFs over the past month, rising 5.9% and 5.3%, respectively, compared to the S&P 500′s 3.8% gain.
Materials Select Sector SPDR
Tom Lydon’s clients own shares of Amazon and Microsoft.