Communications Services Down Ahead of Jobs Data -- Communications Services Roundup

IPG

Communications services companies ticked down ahead of jobs data.

The SPDR Select Sector Communications Services exchange-traded fund, which tracks the industry group on the S&P 500, is up about 38% for the year to date, surpassing even the tech sector. A combination of deal activity and rising consumer outlays on cell-phone plans and streaming services has drawn investors to the sector.

Shares of Netflix have almost doubled in 2024 so far.

Advertising holding company Interpublic Group agreed to buy Mumbai-based retail analytics firm Intelligence Node.

Write to Rob Curran at rob.curran@dowjones.com

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12-09-24 1745ET