The S&P 500 (SPX) closed at a new all-time high on Friday as tech stocks powered the index higher.
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New trading tool for QQQ bullsLet’s break down the sectors behind the performance.
Today’s Top-Performing Sector
Information technology was the top-performing sector, powered by strong gains in semiconductor and memory names. Intel (INTC) raced higher following reports of a preliminary chip deal with Apple (AAPL), while Micron (MU) surged to a record high after Mizuho analyst Vijay Rakesh raised his price target to $740 from $545. Akamai Technologies (AKAM) was the top-performer within the sector after securing a $1.8 billion deal with a “leading frontier model provider.”
Several information technology stocks led the sector’s gains, including:
Today’s Worst-Performing Sector
Meanwhile, the healthcare sector faced the largest drawdown as investors rotated out of defensive stocks and into higher-growth areas such as technology. Mettler-Toledo International (MTD) was the worst performer after reporting its first-quarter earnings, with tariffs and currency exchange rates pressuring margins. Furthermore, Zoetis (ZTS) fell after Stifel analyst Jonathan Block slashed his price target to $105 from $130.
Notable healthcare stocks trading lower include: