Stock Price Indexes:

S&P 500
Sectors & Industries
Yardeni Research, Inc.

January 28, 2022

Dr. Edward Yardeni

516-972-7683
eyardeni@yardeni.com

Joe Abbott
732-497-5306
jabbott@yardeni.com

Mali Quintana
480-664-1333
aquintana@yardeni.com

Please visit our sites at

www.yardeni.com
blog.yardeni.com

thinking outside the box

Table Of Contents Table Of Contents
S&P 500 Sectors 1
S&P 500: Sector Total Return Performance 2
S&P 500 Sectors Relative to S&P 500 3
S&P 500 Sectors 4
S&P 500: Consumer Discretionary 5
S&P 500: Consumer Discretionary (cont) 6-7
S&P 500: Consumer Discretionary Retailers 8
S&P 500: Consumer Staples 9
S&P 500: Consumer Staples (cont) 10
S&P 500: Energy 11
S&P 500: Financials 12
S&P 500: Financials (cont) 13
S&P 500: Health Care 14
S&P 500: Health Care (cont) 15
S&P 500: Industrials 16
S&P 500: Industrials (cont) 17-18
S&P 500: Information Technology 19
S&P 500: Materials 20
S&P 500: Materials (cont) 21
S&P 500: Communication Services 22
S&P 500: Utilities 23

January 28, 2022 / Stock Price Indexes: S&P 500 Sectors & Industries Yardeni Research, Inc.
www.yardeni.com
 S&P 500 Sectors
Figure 1.
1900 1100
1700 CONSUMER DISCRETIONARY INDUSTRIALS
1500 900
1/28 1/28
1300 S&P 500 Sector 700
1100 Price Indexes
900 500
700
500 300
2016 2017 2018 2019 2020 2021 2022 2016 2017 2018 2019 2020 2021 2022

950 3400
CONSUMER STAPLES INFORMATION TECHNOLOGY 3000
850 1/28
1/28 2600
750 2200
650 1800
1400
550
1000
450 600
2016 2017 2018 2019 2020 2021 2022 2016 2017 2018 2019 2020 2021 2022

800 650
700 ENERGY MATERIALS 600
550
600 1/28
500
500 1/28 450
400 400
350
300
300
200 250
100 200
2016 2017 2018 2019 2020 2021 2022 2016 2017 2018 2019 2020 2021 2022

700 300
650 FINANCIALS 1/28 COMMUNICATION SERVICES 275
600
1/28 250
550
500 225
450 200
400
175
350
300 150
250 125
2016 2017 2018 2019 2020 2021 2022 2016 2017 2018 2019 2020 2021 2022

1900 400
1700 HEALTH CARE UTILITIES 375
1/28 350
1500 1/28
325
1300 300
1100 275
250
900 225
yardeni.com
700 200
2016 2017 2018 2019 2020 2021 2022 2016 2017 2018 2019 2020 2021 2022

Source: Standard & Poor’s and Haver Analytics.

Page 1 / January 28, 2022 / Stock Price Indexes: S&P 500 Sectors & Industries Yardeni Research, Inc.
www.yardeni.com
 S&P 500: Sector Total Return Performance
Figure 2.
1500 800
CONSUMER DISCRETIONARY INDUSTRIALS 700
(Performance relative 666.0%
to S&P 500) 1107.8% 600
1000 500
400
500 300
200
Data thru 03/03/21 100
0 0
20092010201120122013201420152016201720182019202020212022 20092010201120122013201420152016201720182019202020212022

400 1500
CONSUMER STAPLES 360.6% INFORMATION TECHNOLOGY
1240.9%
300
1000
200
500
100

0 0
20092010201120122013201420152016201720182019202020212022 20092010201120122013201420152016201720182019202020212022

200 500
ENERGY MATERIALS 459.1%
150 400

100 300
70.3%
50 200

0 100

-50 0
20092010201120122013201420152016201720182019202020212022 20092010201120122013201420152016201720182019202020212022

800 400
FINANCIALS 731.7% COMMUNICATION SERVICES
343.7%
600 300

400 200

200 100

0 0
20092010201120122013201420152016201720182019202020212022 20092010201120122013201420152016201720182019202020212022

600 400
HEALTH CARE 546.3% UTILITIES
313.7% 300
400
200
200
100

yardeni.com
0 0
20092010201120122013201420152016201720182019202020212022 20092010201120122013201420152016201720182019202020212022

Note: Indexed to 0 on 3/9/2009.

Source: Standard & Poor’s.

Page 2 / January 28, 2022 / Stock Price Indexes: S&P 500 Sectors & Industries Yardeni Research, Inc.
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 S&P 500 Sectors Relative to S&P 500
Figure 3.
1500 5000 600
CONSUMER DISCRETIONARY INDUSTRIALS
(performance relative to S&P 500) 4000
1000 3000 400
913.9%
2000
500 1000 200
0
Data thru 03/03/21
0 -1000 0
20092010201120122013201420152016201720182019202020212022 2009201020112012201320142015201620172018201920202021202220232024

300 1500
CONSUMER STAPLES INFORMATION TECHNOLOGY
225.8%
200 1037.1% 1000

100 500

0 0
20092010201120122013201420152016201720182019202020212022 20092010201120122013201420152016201720182019202020212022

150 400
ENERGY MATERIALS
332.4%
100 300

50 200
19.8%
0 100

-50 0
20092010201120122013201420152016201720182019202020212022 20092010201120122013201420152016201720182019202020212022

600 200
FINANCIALS 562.4% COMMUNICATION SERVICES
163.5%
150
400
100
200
50

0 0
20092010201120122013201420152016201720182019202020212022 20092010201120122013201420152016201720182019202020212022

600 250
HEALTH CARE UTILITIES
200
400 415.8%
161.3%
150

100
200
50
yardeni.com
0 0
20092010201120122013201420152016201720182019202020212022 20092010201120122013201420152016201720182019202020212022

Note: Indexed to 0 on 3/9/2009.

Source: Standard & Poor’s Corporation.

Page 3 / January 28, 2022 / Stock Price Indexes: S&P 500 Sectors & Industries Yardeni Research, Inc.
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 S&P 500 Sectors
Figure 4.
2500 1125
1900 1/28 925
1300
CONSUMER DISCRETIONARY 1/28 INDUSTRIALS 725
525
700
325

100 125
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

925 4175
800 1/28 3375
CONSUMER STAPLES INFORMATION TECHNOLOGY 1/28 2575
675
550 1775

425 975

300

175 175
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

1150 700
950 ENERGY
750
MATERIALS 1/28 500

550 1/28 300

350

150 100
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

1075 325
875
675 FINANCIALS 275 COMMUNICATION SERVICES
1/28 1/28
225
475
175
275
125
Includes Real Estate
through September 2016
75 75
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

200-day moving average

2225 400
* S&P 500 sector price indexes on ratio scales. 1825
HEALTH CAREand Standard & Poor’s Corporation. 1/28 UTILITIES 1/28 325
Source: Haver Analytics 1425
1025 250

625 175

yardeni.com
225 100
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

Page 4 / January 28, 2022 / Stock Price Indexes: S&P 500 Sectors & Industries Yardeni Research, Inc.
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 S&P 500: Consumer Discretionary
Figure 5.
1875 2000
CONSUMER DISCRETIONARY S&P 500 HOMEBUILDING 1800
1675 (DHI LEN PHM) 1/28
1475 1600
1/28
1400
1275
1200
1075
1000
875
800
675
600
475 400
275 200
75 0
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

450 925
S&P 500 APPAREL, ACCESSORIES, S&P 500 HOUSEHOLD APPLIANCES
400 LUXURY GOODS 825
(WHR)
350 (COH HBI KORS PVH 725
RL UA VFC) 1/28
625
300
525
250 1/28
425
200
325
150 225
100 125
50 25
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

5500 525
S&P 500 FOOTWEAR S&P 500 HOUSEWARES & SPECIALTIES
4900 (NKE) (NWL)
4300 1/28 425

3700
325
3100
2500
225
1900 1/28
1300 125
700
100 25
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

250 525
S&P 500 HOME FURNISHINGS S&P 500 DISTRIBUTORS
225 1/28
(LEG MHK) (GPC LKQ) 450
200
175 375
150
1/28 300
125
100 225
75
150
50
yardeni.com
25 75
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

200-day moving average

Source: Standard & Poor’s Corporation.

Page 5 / January 28, 2022 / Stock Price Indexes: S&P 500 Sectors & Industries Yardeni Research, Inc.
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 S&P 500: Consumer Discretionary (cont)
Figure 6.
525 150
S&P 500 AUTO PARTS & EQUIPMENT S&P 500 TIRES & RUBBER
(BWA DLPH JCI) 125 (GT)
425

100
325 1/28

75
2/26
225
50

125
25

25 0
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

150 280
S&P 500 AUTOMOBILE MANUFACTURERS S&P 500 MOTORCYCLE MANUFACTURERS
(F GM TSLA) 240 (HOG)

200
100
1/28 160

120
50
80
6/19
40

0 0
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

200-day moving average

Source: Standard & Poor’s Corporation.

Page 6 / January 28, 2022 / Stock Price Indexes: S&P 500 Sectors & Industries Yardeni Research, Inc.
www.yardeni.com
 S&P 500: Consumer Discretionary (cont)
Figure 7.
350 2800
S&P 500 LEISURE PRODUCTS S&P 500 RESTAURANTS 2600
300 (HAS MAT) (CMG DRI MCD SBUX YUM) 1/28 2400
2200
250 2000
1800
1600
200
1400
1/28 1200
150 1000
800
100 600
400
50 200
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

650 2150
S&P 500 HOTELS, RESORTS & CRUISE LINES S&P 500 CASINOS & GAMING
550 (CCL MAR RCL WYN) (WYNN)
1/28 1750

450
1350
350
950
250
1/28
550
150
yardeni.com
50 150
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

200-day moving average

Source: Standard & Poor’s Corporation.

Page 7 / January 28, 2022 / Stock Price Indexes: S&P 500 Sectors & Industries Yardeni Research, Inc.
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 S&P 500: Consumer Discretionary Retailers
Figure 8.
4600 3000
4200 S&P 500 RETAILING S&P 500 GENERAL MERCHANDISE 2750
(AAP, AMZN, AN, AZO, BBY, DG, DLTR, (DG DLTR TGT) 1/28
3800 EXPE, FL, GPC, GPS, HD, JWN, KMX, KSS, 1/28 2500
3400 LB, LOW, M, NFLX, ORLY, PCLN, ROST, 2250
3000 SIG, TGT, TIF, TJX, TRIP, TSCO, 2000
ULTA, URBN)
2600 1750
2200 1500
1800 1250
1400 1000
1000 750
600 500
200 250
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

2600 4650
2400 S&P 500 APPAREL RETAIL S&P 500 HOME IMPROVEMENT RETAIL 4350
2200 (FL GPS LB ROST TJX URBN) 1/28 (HD LOW) 4050
1/28 3750
2000
3450
1800 3150
1600 2850
1400 2550
1200 2250
1000 1950
800 1650
1350
600 1050
400 750
200 450
0 150
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

875 14000
800 S&P 500 COMPUTER & ELECTRONICS RETAIL S&P 500 INTERNET RETAIL
(BBY) (AMZN EXPE NFLX PCLN TRIP) 12000
725 1/28
650 10000
1/28
575
500 8000
425 6000
350
275 4000
200
2000
125
50 0
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

400 200
S&P 500 DEPARTMENT STORES S&P 500 SPECIALTY STORES
350 (JWN KSS M) (SIG TIF TSCO ULTA) 175
300 1/28 150
250
125
200
100
150
75
100
50 9/18 50
yardeni.com
0 25
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

200-day moving average

Source: Standard & Poor’s Corporation.

Page 8 / January 28, 2022 / Stock Price Indexes: S&P 500 Sectors & Industries Yardeni Research, Inc.
www.yardeni.com
 S&P 500: Consumer Staples
Figure 9.
850 1600
S&P 500 CONSUMER STAPLES 1/28 S&P 500 DRUG RETAIL
750 (CVS WBA) 1400

650 1200

550 1000

450 800
1/28
350 600

250 400

150 200
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

1300 1/28 1175

S&P 500 AGRICULTURAL PRODUCTS S&P 500 FOOD DISTRIBUTORS 1100
1100 (ADM) (SYY) 1025
1/28 950
900 875
800
725
700
650
575
500 500
425
300 350
275
100 200
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

1450 500
S&P 500 BREWERS S&P 500 FOOD RETAIL
450
1250 (TAP) (KR)
400
1050 350
1/28
300
850
250
650 200
1/28
150
450
100
250 50
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

1025
1125 S&P 500 DISTILLERS & VINTNERS S&P 500 HOUSEHOLD PRODUCTS 1/28 950
(BF.B STZ) 1/28 (CHD CL CLX KMB PG)
875
975
800
825 725
675 650
575
525 500
375 425
350
225
275
yardeni.com
75 200
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

200-day moving average

Source: Standard & Poor’s Corporation.

Page 9 / January 28, 2022 / Stock Price Indexes: S&P 500 Sectors & Industries Yardeni Research, Inc.
www.yardeni.com
 S&P 500: Consumer Staples (cont)
Figure 10.
460 750
430 S&P 500 HYPERMARKETS & SUPER CENTERS S&P 500 SOFT DRINKS 1/28
1/28 675
400 (COST WMT) (DPS KO MNST PEP)
370 600
340
310 525
280
450
250
220 375
190
160 300
130 225
100
70 150
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

750 1750
S&P 500 PACKAGED FOODS & MEATS S&P 500 TOBACCO
650 (CAG CPB GIS HRL HSY K KHC MDLZ MJN 1/28 (MO PM) 1500
MKC SJM TSN)

550 1250
1/28
450 1000

350 750

250 500

150 250
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

1340
1240 S&P 500 PERSONAL PRODUCTS
1140 (EL)
1/28
1040
940
840
740
640
540
440
340
240
yardeni.com
140
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

200-day moving average

Source: Standard & Poor’s Corporation.

Page 10 / January 28, 2022 / Stock Price Indexes: S&P 500 Sectors & Industries Yardeni Research, Inc.
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 S&P 500: Energy
Figure 11.
750 900
S&P 500 ENERGY S&P 500 OIL & GAS EQUIPMENT & SERVICES 850
700 (BHGE FTI HAL NOV SLB) 800
650 750
600 700
650
550 600
500 1/28 550
500
450
450
400 400
350 350
1/28 300
300 250
250 200
150
200
100
150 50
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
750 950
S&P 500 INTEGRATED OIL & GAS S&P 500 OIL & GAS EXPLORATION &
700 (CVX OXY XOM) PRODUCTION 850
650 (APA APC CHK COG COP CRC CXO DVN EOG EQT
HES MRO NBL NFX PXD RRC SWN XEC) 750
600
550 650
500 1/28 550
450 1/28
450
400
350 350
300
250
250
150
200
150 50
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
1100 1150
S&P 500 OIL & GAS DRILLING S&P 500 OIL & GAS REFINING & MARKETING
1000 (DO HP) (ANDV MPC PSX VLO) 1050

900 950

800 850
1/28
700 750

600 650

500 550

400 450

300 350

200 250

100 150
5/21 yardeni.com
0 50
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
200-day moving average
Source: Standard & Poor’s Corporation.

Page 11 / January 28, 2022 / Stock Price Indexes: S&P 500 Sectors & Industries Yardeni Research, Inc.
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 S&P 500: Financials
Figure 12.
750 1500
700 S&P 500 FINANCIALS S&P 500 INSURANCE BROKERS
650 1/28 (AJG AOC MMC WLTW) 1300
600 1/28
550 1100
500
450 900
400
350 700
300
250 500
200
150 300
100
50 100
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

400 325
S&P 500 ASSET MANAGEMENT & S&P 500 INVESTMENT BANKING &
360 CUSTODY BANKS BROKERAGE 1/28
1/28 275
320 (AMG AMP BEN BK BLK IVZ LM (ETFC GS MSSCHW)
NTRS STT TROW)
280 225
240
175
200
160 125
120
75
80
40 25
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

1790 550
S&P 500 CONSUMER FINANCE S&P 500 LIFE & HEALTH INSURANCE 500
1490 (AXP COF DFS NAVI SYF) (AFL BHF LNC MET PFG PRU TMK UNM) 1/28
1/28 450
400
1190 350
300
890
250
200
590
150
290 100
50
-10 0
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

850 600
S&P 500 DIVERSIFIED BANKS S&P 500 MULTI-LINE INSURANCE
750 (BAC C CMA JPM USB WFC) (AIG AIZ HIG L)
1/28 500
650
400
550
450 300
350
200
250
1/28
100
150
yardeni.com
50 0
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

200-day moving average

Source: Standard & Poor’s Corporation.

Page 12 / January 28, 2022 / Stock Price Indexes: S&P 500 Sectors & Industries Yardeni Research, Inc.
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 S&P 500: Financials (cont)
Figure 13.
900
S&P 500 PROPERTY & CASUALTY INSURANCE
800 1/28
(ALL CB CINF PGR TRV XL)
700
600
500 ***** Chart Not Available *****
400
300
Task: GMBFINSF
200
100
0 Invalid calculation element [PRC]
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

01-10-2022 - 02:28:24

***** Chart Not Available *****

Task: GMBFINREITS

Invalid calculation element [S5404I]

01-10-2022 - 02:28:23

***** Chart Not Available *****

Task: GMBFINREG

Invalid calculation element [PRC]

01-28-2022 - 18:11:56

Page 13 / January 28, 2022 / Stock Price Indexes: S&P 500 Sectors & Industries Yardeni Research, Inc.
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 S&P 500: Health Care
Figure 14.
1600 3100
S&P 500 HEALTH CARE 1/28 S&P 500 HEALTH CARE EQUIPMENT 2900
1400 2700
2500
1200 1/28 2300
2100
1000 1900
1700
800 1500
1300
600 1100
900
400 700
500
200 300
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
5500 1400
S&P 500 BIOTECHNOLOGY S&P 500 HEALTH CARE FACILITIES 1300
4800 1200
1/28
1100
4100 1/28 1000
900
3400 800
700
2700 600
500
2000 400
300
1300 200
100
600 0
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
1000 1200
S&P 500 HEALTH CARE DISTRIBUTORS S&P 500 HEALTH CARE SERVICES 1/28 1100
900
1/28 1000
800
900
700
800
600 700

500 600

500
400
400
300
300
200 200
yardeni.com
100 100
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
200-day moving average
Source: Standard & Poor’s.

Page 14 / January 28, 2022 / Stock Price Indexes: S&P 500 Sectors & Industries Yardeni Research, Inc.
www.yardeni.com
 S&P 500: Health Care (cont)
Figure 15.
475
4100
S&P 500 MANAGED HEALTH CARE S&P 500 HEALTH CARE TECHNOLOGY
1/28 1/28 425
3600
375
3100
325
2600
275
2100
225
1600
175

1100 125

600 75

100 25
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
1000 1550
S&P 500 PHARMACEUTICALS S&P 500 1450
900 LIFE SCIENCES TOOLS & SERVICES 1350
1250
800 1150
1/28
1050
700
950
850
600
750
650
500
550
400 450
350
300 250
150
yardeni.com
200 50
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

Page 15 / January 28, 2022 / Stock Price Indexes: S&P 500 Sectors & Industries Yardeni Research, Inc.
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 S&P 500: Industrials
Figure 16.
1000 750
S&P 500 INDUSTRIALS S&P 500 CONSTRUCTION & ENGINEERING
900
1/28 (FLR JEC PWR) 650
800
550
700 1/28
600 450

500 350
400
250
300
150
200
100 50
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

1550 1500
S&P 500 AEROSPACE & DEFENSE S&P 500 CONSTRUCTION
1350 (ARNC BA COL GD LLL LMT NOC RTN MACHINERY & HEAVY TRUCKS 1/28 1300
TDG TXT UTX) 1/28 (CAT CMI PCAR)
1150 1100

950 900

750 700

550 500

350 300

150 100
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

700 1600
S&P 500 BUILDING PRODUCTS S&P 500 ELECTRICAL COMPONENTS & 1450
625 1/28 EQUIPMENT
(ALLE AOS FBHS JCI MAS)
550 (AME AYI EMR ETN ROK) 1300
1/28 1150
475
1000
400
850
325
700
250
550
175 400
100 250
yardeni.com
25 100
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

200-day moving average

Source: Standard & Poor’s Corporation.

Page 16 / January 28, 2022 / Stock Price Indexes: S&P 500 Sectors & Industries Yardeni Research, Inc.
www.yardeni.com
 S&P 500: Industrials (cont)
Figure 17.
450 1950
S&P 500 ENVIRONMENTAL & S&P 500 INDUSTRIAL MACHINERY
400
FACILITIES SERVICES (DOV FLS FTV IR ITW PH PNR SNA SWK XYL) 1750
1/28
(RSG SRCL WM) 1/28
1550
350
1350
300
1150
250
950
200
750
150
550

100 350

50 150
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
325 350
S&P 500 HUMAN RESOURCE & S&P 500 OFFICE SERVICES & SUPPLIES
EMPLOYMENT SERVICES 1/28 (PBI)
275 (RHI) 300

225 250

175 200

125 150

2/28
75 100

25 50
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
550 1250
S&P 500 INDUSTRIAL CONGLOMERATES S&P 500 TRADING COMPANIES &
(GE HON MMM ROP) DISTRIBUTORS 1150
(FAST GWW URI) 1/28 1050
450
950
850
350 1/28 750
650

250 550
450
350
150
250
150
yardeni.com
50 50
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
200-day moving average
Source: Standard & Poor’s Corporation.

Page 17 / January 28, 2022 / Stock Price Indexes: S&P 500 Sectors & Industries Yardeni Research, Inc.
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 S&P 500: Industrials (cont)
Figure 18.
1300 450
S&P 500 TRANSPORTATION INDEX S&P 500 AIRLINES
(AAL ALK DAL LUV UAL) 400
1100
1/28 350

900 300

250
700 1/28
200

500 150

100
300
50

100 0
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
1250 3300
1200 3100
1150 S&P 500 AIR FREIGHT & LOGISTICS S&P 500 RAILROADS 1/28
1100 (CHRW EXPD FDX UPS) (CSX KSU NSC UNP) 2900
1050 1/28 2700
1000
2500
950
900 2300
850 2100
800
750 1900
700 1700
650 1500
600
550 1300
500 1100
450
900
400
350 700
300 500
250
200 300
yardeni.com
150 100
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
200-day moving average
Source: Standard & Poor’s.

Page 18 / January 28, 2022 / Stock Price Indexes: S&P 500 Sectors & Industries Yardeni Research, Inc.
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 S&P 500: Information Technology
Figure 19.
3150 750
2850
S&P 500 INFORMATION TECHNOLOGY S&P 500 ELECTRONIC EQUIPMENT &
1/28 INSTRUMENTS 650
2550 (FLIR KEYS) 1/28
2250 550
1950 450
1650
1350 350

1050 250
750
150
450
150 50
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

490 450
S&P 500 APPLICATION SOFTWARE S&P 500 ELECTRONIC MANUFACTURING
430 SERVICES 400
(ADBE ADSK ANSS CDNS CRM CTXS INTU SNPS)
370 (IPGP TEL) 350
1/28
1/28 300
310
250
250
200
190
150
130 100
70 50
yardeni.com
10 0
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

400 905
375 S&P 500 COMMUNICATIONS EQUIPMENT S&P 500 TECHNOLOGY HARDWARE,
STORAGE & PERIPHERALS 805
350 (ANET CSCO FFIV JNPR MSI) 1/28
325 (AAPL HPE HPQ NTAP STX WDC XRX) 705
300
275 1/28 605
250 505
225
200 405
175 305
150
125 205
100 105
75 yardeni.com
50 5
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

1900
S&P 500 DATA PROCESSING &
OUTSOURCED SERVICES 1700
1/28
(ADP ADS BR FIS FISV FLT GPN JKHY 1500
MA PAYX PYPL V WU)
1300
1100
900
700
500
300
100
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

Page 19 / January 28, 2022 / Stock Price Indexes: S&P 500 Sectors & Industries Yardeni Research, Inc.
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 S&P 500: Materials
Figure 21.
20.
2800
575 1200 700
525
S&P 500 MATERIALS
SEMICONDUCTORS
INDEX S&P 500 COPPER
INTERNET SERVICES & 1/28
2500 1/28
(ADI AMD AVGO INTC MCHP MU MXIM 1000 INFRASTRUCTURE
(FCX) 600
475
2200 NVDA QCOM QRVO SWKS TXN XLNX) (AKAM VRSN)
1/28 500
425
1900 800
375 400
1600
325 600 1/28
1300 300
275
1000 400
225 200
700
175
200 100
400
125
yardeni.com
100
75 0 0
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

3300
375 250 2500
S&P 500 ALUMINUM
SEMICONDUCTOR EQUIPMENT S&P 200-day ITmoving
500 FERTILIZER average
CONSULTING & AGRICULTURAL
& OTHER SERVICES
1/28
2900
325 (AMAT KLAC LRCX)
(AA) Source:
CTSH DXC IBM IT Corporation.
Standard
CHEMICALS
(ACN & Poor’s LDOS) 1/28
1/28 2100
200 (CTVA CF FMC MOS)
2500
275
1700
2100 150
225
1700 1300
175 100
1300
900
125
900
50
75 500
500 11/1
100
25 0 100
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

475 200-day moving average 6900 180

S&P 500 CONSTRUCTION
SYSTEMS SOFTWARE
MATERIALS 6300S&P 500 GOLD
Source: Standard & Poor’s Corporation.
400 (FTNT VMC)
(MLM MSFT ORCL SYMC) (NEM)
5700
1/28 1/28
5100 140
325 4500
3900
250 100
3300
175 2700
2100 60
100 1500
900
yardeni.com
25 300 20
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

600
S&P 500 DIVERSIFIED CHEMICALS
525 (EMN)
450 11/30
375
300
225
150
75
0
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

200-day moving average

Source: Standard & Poor’s Corporation.

Page 20 / January 28, 2022 / Stock Price Indexes: S&P 500 Sectors & Industries Yardeni Research, Inc.
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 S&P 500: Materials (cont)
Figure 22.
2600 280
S&P 500 INDUSTRIAL GASES 2400S&P 500 PAPER PRODUCTS
(APD LIN) 2200(IP) 240
1/28
2000
200
1800
1600 12/18
160
1400
1200 120
1000
80
800
600 40
400
yardeni.com
200 0
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

560 1900
520 S&P 500 METAL & GLASS CONTAINERS S&P 500 SPECIALTY CHEMICALS
480 (BLL) (ALB CE DD ECL IFF PPG SHW) 1/28 1650
440 1/28
400 1400
360
1150
320
280
900
240
200 650
160
120 400
80
40 150
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

425
S&P 500 STEEL
(NUE)
350

275
1/28
200

125

yardeni.com
50
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

Page 21 / January 28, 2022 / Stock Price Indexes: S&P 500 Sectors & Industries Yardeni Research, Inc.
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 S&P 500: Communication Services
Figure 23.
300 240
S&P 500 TELECOMMUNICATION SERVICES S&P 500 INTEGRATED TELECOMMUNICATION
SERVICES
260 (T VZ)
1/28 200
220

180 160

1/28
140
120
100

yardeni.com
60 80
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
200-day moving average 400 900
S&P 500 ADVERTISING S&P 500 BROADCASTING
Source: Standard & Poor’s Corporation. 800
(IPG OMC) 350 (CBS DISCA DISCK SNI TGNA)
700
9/21 300 9/21
600
250 500

200 400
300
150
200
100 100
50 0
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

500 400
S&P 500 MOVIES & ENTERTAINMENT S&P 500 PUBLISHING
450 (NWS NWSA)
(DIS FOX FOXA TWX VIAB) 9/21 350
400
300
350 9/21
300 250

250 200
200
150
150
100
100
yardeni.com
50 50
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

Page 22 / January 28, 2022 / Stock Price Indexes: S&P 500 Sectors & Industries Yardeni Research, Inc.
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 S&P 500: Utilities
Figure 24.
400 875
S&P 500 UTILITIES INDEX S&P 500 GAS UTILITIES
375
(GAS)
775
350 1/28
325 675
300
275 575
250
475
225
200 375
175
150 275

125
175
100
1/28
75 75
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
450 55
S&P 500 ELECTRIC UTILITIES S&P 500 MULTI-UTILITIES
425
(AEP DUK EIX ES ETR EXC FE LNT NEE PCG (AEE CMS CNP D DTE ED NI 50
400 PNW PPL SO XEL) PCG PEG SCG SRE WEC)
1/28
375 1/28 45
350
40
325
300 35

275 30
250
25
225
200 20
175
15
150
yardeni.com
125 10
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
200-day moving average
Source: Standard & Poor’s Corporation.

Page 23 / January 28, 2022 / Stock Price Indexes: S&P 500 Sectors & Industries Yardeni Research, Inc.
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