Thursday Sector Laggards: Energy, Technology & Communications

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Looking at the sectors faring worst as of midday Thursday, shares of Energy companies are underperforming other sectors, showing a 4.6% loss. Within that group, Hess Corp (Symbol: HES) and Devon Energy Corp. (Symbol: DVN) are two of the day's laggards, showing a loss of 8.4% and 7.5%, respectively. Among energy ETFs , one ETF following the sector is the Energy Select Sector SPDR ETF (Symbol: XLE), which is down 3.8% on the day, and up 7.44% year-to-date. Hess Corp, meanwhile, is up 45.51% year-to-date, and Devon Energy Corp. is up 20.59% year-to-date. Combined, HES and DVN make up approximately 2.4% of the underlying holdings of XLE.

The next worst performing sector is the Technology & Communications sector, showing a 2.4% loss. Among large Technology & Communications stocks, NetApp, Inc. (Symbol: NTAP) and Fortinet Inc (Symbol: FTNT) are the most notable, showing a loss of 10.5% and 6.3%, respectively. One ETF closely tracking Technology & Communications stocks is the Technology Select Sector SPDR ETF ( XLK ), which is down 2.3% in midday trading, and up 17.90% on a year-to-date basis. NetApp, Inc., meanwhile, is up 1.97% year-to-date, and Fortinet Inc is up 9.00% year-to-date. Combined, NTAP and FTNT make up approximately 0.5% 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:

Preferred Stock Channel

Here's a snapshot of how the S&P 500 components within the various sectors are faring in afternoon trading on Thursday. As you can see, one sector is up on the day, while eight sectors are down.

Sector % Change
Utilities +0.4%
Consumer Products -1.1%
Financial -1.3%
Healthcare -1.4%
Services -1.5%
Materials -1.6%
Industrial -2.0%
Technology & Communications -2.4%
Energy -4.6%

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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 , Stocks
Referenced Symbols: XLK , HES , DVN , XLE , NTAP

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