Friday Sector Laggards: Technology & Communications, Materials

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In afternoon trading on Friday, Technology & Communications stocks are the worst performing sector, showing a 2.8% loss. Within that group, Activision Blizzard, Inc. (Symbol: ATVI) and CenturyLink Inc (Symbol: CTL) are two large stocks that are lagging, showing a loss of 12.9% and 10.8%, respectively. Among technology ETFs , one ETF following the sector is the Technology Select Sector SPDR ETF (Symbol: XLK), which is down 2.3% on the day, and up 9.67% year-to-date. Activision Blizzard, Inc., meanwhile, is down 13.08% year-to-date, and CenturyLink Inc is up 22.48% year-to-date.

The next worst performing sector is the Materials sector, showing a 1.8% loss. Among large Materials stocks, Freeport-McMoran Copper & Gold (Symbol: FCX) and Albemarle Corp. (Symbol: ALB) are the most notable, showing a loss of 4.5% and 3.4%, respectively. One ETF closely tracking Materials stocks is the Materials Select Sector SPDR ETF ( XLB ), which is down 1.8% in midday trading, and down 8.22% on a year-to-date basis. Freeport-McMoran Copper & Gold, meanwhile, is down 39.14% year-to-date, and Albemarle Corp., is down 19.22% year-to-date. Combined, FCX and ALB make up approximately 7.4% of the underlying holdings of XLB.

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:

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Here's a snapshot of how the S&P 500 components within the various sectors are faring in afternoon trading on Friday. As you can see, none of the sectors are up on the day, while nine sectors are down.

Sector % Change
Utilities -0.2%
Energy -0.4%
Consumer Products -0.6%
Financial -0.7%
Services -1.1%
Industrial -1.4%
Healthcare -1.5%
Materials -1.8%
Technology & Communications -2.8%

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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.

This article appears in: Investing , Investing Ideas
Referenced Symbols: XLB , ATVI , CTL , XLK , FCX

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