The S&P 500 Industrials sector rose 0.59% on December 19. United Technologies (UTX) and C.H. Robinson (CHRW) were the top performers in the industrials sector on December 19. United Technologies is a global leader in the crushing and grinding industry. It rose 2.1% on December 19. It was upgraded from “outperform” to “neutral” by Credit Suisse. The price target was lifted from $108 to $125. It moved the stock higher on Monday.
The S&P 500 Utilities sector rose 0.37% on December 19. NRG Energy (NRG) and NiSource (NI) were the top performers in the utilities sector on December 19. The utilities sector is generally considered as a “safe-haven.” The Fed sounded hawkish in its recent policy meeting. It hinted at an accelerated interest rate hike process. Increased interest rates take the shine out of the utilities sector. As part of its fleet optimization strategy, NRG Energy announced its achievement on December 19. NRG Energy successfully completed coal-to-gas projects at four of its power plants. It would change the use of primary fuel from coal to natural gas.
Consumer discretionary sector
The S&P 500 Consumer Discretionary sector rose 0.21% on December 19. Kohl’s (KSS) and O’Reilly Automotive (ORLY) were the best performers in the consumer discretionary sector. After falling as much as 8.7% on December 16, Nordstrom (JWN) recovered on December 19. Nordstrom, a department store chain, rose 0.71% to $50.84 on December 19. At the end of last week, Nordstrom fell as JPMorgan Chase downgraded the stock and decreased its 12-month price target from $55 to $48. Read Nordstrom’s Stock Slumps 8.7% after JPMorgan’s Downgrade to learn more.
Consumer staples sector
The S&P 500 Consumer Staples sector rose 0.15% on December 19. Costco Wholesale (COST) and Altria Group (MO) were the top performers in the consumer staples sector on December 19. Costco Wholesale is a warehouse club that provides wholesale merchandise. It rose 1.9% to $163.46. Costco rose to four-month high price levels on December 19 after Citigroup upgraded the stock. Analysts at Citigroup upgraded Costco to “buy” with a price target of $184. It’s 12% above the current levels.