Wednesday Sector Laggards: Energy, Technology & Communications

Technology Sector Update for 10/14/2019: YNDX, GOOG, GOOGL, DOX, MSFT, AAPL, IBM, CSCO

The worst performing sector as of midday Wednesday is the Energy sector, showing a 0.9% loss. Within the sector, Hess Corp (Symbol: HES) and Devon Energy Corp. (Symbol: DVN) are two large stocks that are lagging, showing a loss of 6.5% and 2.2%, respectively. Among energy ETFs, one ETF following the sector is the Energy Select Sector SPDR ETF (Symbol: XLE), which is down 0.6% on the day, and down 8.46% year-to-date. Hess Corp, meanwhile, is down 13.07% year-to-date, and Devon Energy Corp., is down 14.44% year-to-date. Combined, HES and DVN make up approximately 2.7% of the underlying holdings of XLE.

The next worst performing sector is the Technology & Communications sector, showing a 0.6% loss. Among large Technology & Communications stocks, Xilinx, Inc. (Symbol: XLNX) and Advanced Micro Devices Inc (Symbol: AMD) are the most notable, showing a loss of 9.6% and 6.7%, respectively. One ETF closely tracking Technology & Communications stocks is the Technology Select Sector SPDR ETF (XLK), which is up 0.8% in midday trading, and up 6.63% on a year-to-date basis. Xilinx, Inc., meanwhile, is down 8.86% year-to-date, and Advanced Micro Devices Inc is up 2.79% year-to-date. Combined, XLNX and AMD make up approximately 1.2% of the underlying holdings of XLK.

Comparing these stocks and ETFs on a trailing twelve month basis, below is a relative stock price performance chart, with each of the symbols shown in a different color as labeled in the legend at the bottom:

Here’s a snapshot of how the S&P 500 components within the various sectors are faring in afternoon trading on Wednesday. As you can see, six sectors are up on the day, while three sectors are down.

Sector % Change
Industrial +0.8%
Materials +0.6%
Financial +0.3%
Consumer Products +0.2%
Utilities +0.2%
Services +0.1%
Healthcare -0.3%
Technology & Communications -0.6%
Energy -0.9%

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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