Technology fund rises 0.7% on chips; discretionary falls 1.4% on Tesla

Tesla fell 5.9% on Friday, a day after its Cybercab event in Austin and a National Highway Traffic Safety Administration inquiry into the vehicle's self-certification. At 17.7% of the consumer discretionary fund AXLY, that one holding subtracted 1.05 percentage points, most of the fund's 1.36% decline, and reversed Thursday's bounce.

Friday billed anyone whose discretionary fund is, in practice, a Tesla position.

August payrolls had just come in at 162,000, against forecasts in the mid-50,000s, the last employment count before the Federal Reserve's mid-September meeting. Eight of the eleven sector funds finished lower. The technology fund AXLK still rose 0.71%, a second up day.

Four chipmakers lift technology

Micron, SanDisk, Advanced Micro Devices, and Intel together added 0.74 percentage points to AXLK, enough to cover Apple at a 13% weight and Microsoft at 10%. Nvidia, the largest holding at 15%, was not among the main drivers.

Software did not come along. Palantir fell 4.5% and Adobe 6.7%.

The Nasdaq-100 fund AQQQ closed 0.18% higher on the same split.

Constellation keeps utilities positive as NextEra falls

The utilities fund AXLU rose 0.12%. Constellation Energy, a 6.8% holding, rose 4.9% and added 0.33 percentage points; NextEra Energy, the 13% anchor, fell 0.7%. Nuclear and merchant-power names kept the fund positive. The regulated book did not.

Industrials rise; financials give back Thursday

The industrials fund AXLI rose 0.39%, the session's other gain besides technology and utilities, a second up day inside a month that is still down 5.1%. Caterpillar, Eaton, Vertiv, and GE did the lifting. The financials fund AXLF fell 0.75%, giving back Thursday's 1.6% rise, with JPMorgan Chase, Visa, and Mastercard the largest contributors at 0.11, 0.07, and 0.06 percentage points. The health care fund AXLV, the communication services fund AXLC, the consumer staples fund AXLP, the energy fund AXLE, and the real estate fund AXLRE all finished lower. Netflix subtracted 0.26 percentage points from AXLC. Health care's 1.04% dip sits inside a month still up 4.3%; energy's 0.87% decline is a second down day inside a month still up 10%.

The S&P 500 fund ASPY fell 0.38% at Friday's close. The Russell 2000 fund AIWM rose 0.27%. The month's scores did not change. Friday's did, inside the funds rather than across them.