New S&P 500 sector made successful debut

Time to read
less than
1 minute
Read so far

New S&P 500 sector made successful debut

September 25, 2018 - 09:40
0 comments

New communication services index of S&P 500, which includes such big names as Facebook, Alphabet and Netflix, had its debut on Monday and ended first trading session slightly higher, Reuters reports.

Photo © CC0 1.0

New communication services index of S&P 500, which includes such big names as Facebook, Alphabet and Netflix, had its debut on Monday and ended first trading session slightly higher, Reuters reports.

Within changes introduced to Global Industry Classification Standard (GICS), these and other shares were moved from technology and discretionary sectors into new group that was known as telecommunication sector before.

Changes went without disruptions after investors reorganized their positions at the end of trading day on Friday.

Communication services sector finished first day up 0,2%. As a whole, S&P 500 lost 0,4% yesterday.

Largest growth within new index was demonstrated by Netflix (2,3%), Walt Disney (2,1%) and Facebook (1,5%). Decline was shown by Comcast Corp (6%), Verizon Communications (1,6%) and CenturyLink Inc (0,2%).

Apple Inc, which stayed in IT-sector, gained 1,4%, while staying in consumer discretionary sector, was up 1%.