The S&P 500 (SPX) closed higher on Wednesday in a volatile trading session marked by strength in the Magnificent 7 and weakness in energy stocks.
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Let’s break down the sectors behind the performance.
Today’s Top-Performing Sector
Communication services was the top-performing sector, highlighted by strong performances from Alphabet (GOOGL) and Meta Platforms (META). A notable theme was a rotation into the Magnificent 7 from semiconductor and memory stocks. Meanwhile, Trade Desk (TTD) rallied after appointing Uber (UBER) executive Kristi Argyilan as its new Chief Commercial Officer.
Several communication services stocks led the sector’s gains, including:
- Alphabet (GOOGL)
- Charter Communications (CHTR)
- Meta Platforms (META)
- Take-Two Interactive (TTWO)
- Trade Desk (TTD)
Today’s Worst-Performing Sector
The utilities sector faced the largest drawdown, driven by a selloff in AI stocks that weighed on expectations for data center-driven electricity growth. In addition, investors rotated toward higher-growth areas of the market following a cool Producer Price Index (PPI) update.
Notable utility stocks trading lower include:

