The Health Care Select Sector SPDR ETF (XLV) went up 1.2% on Tuesday, December 29. Its top stocks included Vertex Pharmaceuticals (VRTX), St Jude Medical (STJ), Cerner (CERN), and Biogen (BIIB). These stocks rose 3.2%, 2.2%, 2.0%, and 1.9%, respectively, on the day.
The following graph shows the performances of Vertex Pharmaceuticals (VRTX) with respect to XLV since October 2015.
Vertex Pharmaceuticals (VRTX) has a beta value of 1.3, implying that the stock is very volatile. The stock traded at $127.87, which was above its moving average values. Its 100-day, 50-day, and 20-day moving averages are $123, $123, and $122, respectively. This suggests that the stock’s price movement is upward. The stock has earned 15 “buy,” eight “hold,” and no “sell” recommendations.
The rise in oil prices on Tuesday, December 29, did not bring a proportionate rally in the energy sector. The United States Oil Fund (USO) marched 3.0% on the day while the Energy Select Sector SPDR ETF (XLE) could manage a gain of only 0.7%. Brent crude had gained 2.4% to settle at $37.48 per barrel. Other than the top three stocks of the SPDR S&P 500 ETF (SPY), the energy stocks that surged on December 29 included Transocean (RIG), Cabot Oil & Gas (COG), Pioneer Natural Resources (PXD), and QEP Resources (QEP). These stocks yielded 3.0%, 2.7%, 2.4%, and 2.2%, respectively, on the day.
The material sector stocks also rose on Tuesday, December 29, along with the broad market movement. The recovery signs from the selloff that was experienced in the Chinese equities on Monday, December 28, also bolstered the material sector. The mining stock Freeport-McMoRan (FCX), which had plunged on December 28 owing to the resignation of its executive chair, also recovered some of its losses as it rose 1.8% on December 29. Read Freeport-McMoRan Is Biggest Loser for more information.
In the next article, we’ll analyze the financial services sector with the help of moving averages.