Industrial slumps 7.5% in June, Airlines sector worst impacted

Jul. 01, 2022 10:16 AM ETNikola Corporation (NKLA), DAL, AAL, UALBZ, SAVE, UPWK, ESLT, RBA, ZIM, XLI, RBA:CABy: Gaurav Batavia, SA News Editor3 Comments
  • The eleven sectors of the S&P 500 were in the red this month, with SPDR S&P 500 Trust ETF finishing 8.6% lower.
  • The top five gainers in the industrial sector (stocks with a market cap of over $2B):
  • Kanzhun (BZ) +30%.
  • Spirit Airlines (SAVE) +14%.
  • Upwork (UPWK) +13%.
  • Elbit Systems (ESLT) +12%.
  • Ritchie Bros. Auctioneers (RBA) +8%.
  • This month's top five decliners among industrial stocks (market cap of over $2B)
  • Nikola (NASDAQ:NKLA) -33%.
  • Delta Air Lines (NYSE:DAL) -31%.
  • American Airlines (NASDAQ:AAL) -29%.
  • ZIM Integrated Shipping Services (ZIM) -26%.
  • United Airlines Holdings (NASDAQ:UAL) -23%.
  • Airline sector’s drop in June is on the prospects of either further inflation and the Federal Reserve aggressive policy to tamp down the sharpest increase in consumer prices since the early 1980s.
  • Industrials sector was top 5th loser in June, falling -7.5% and the Industrial Select Sector SPDR ETF (XLI) -7.8%.

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