Wednesday Sector Laggards: Services, Technology & Communications

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In afternoon trading on Wednesday, Services stocks are the worst performing sector, up 0.9%. Within that group, Michael Kors Holdings Ltd (Symbol: KORS) and Discovery Inc (Symbol: DISCK) are two of the day's laggards, showing a loss of 12.4% and 1.8%, respectively. Among the largest ETFs , one ETF closely following services stocks is the iShares U.S. Consumer Services ETF (Symbol: IYC), which is up 1.0% on the day, and up 5.67% year-to-date. Michael Kors Holdings Ltd, meanwhile, is down 5.08% year-to-date, and Discovery Inc, is down 5.29% year-to-date. DISCK makes up approximately 0.2% of the underlying holdings of IYC.

The next worst performing sector is the Technology & Communications sector, higher by 0.9%. Among large Technology & Communications stocks, Micron Technology Inc. (Symbol: MU) and IPG Photonics Corp (Symbol: IPGP) are the most notable, showing a loss of 0.9% and 0.5%, 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 9.68% on a year-to-date basis. Micron Technology Inc., meanwhile, is up 50.89% year-to-date, and IPG Photonics Corp is up 15.54% year-to-date. Combined, MU and IPGP make up approximately 1.3% 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:

Chart Zero

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, nine sectors are up on the day, while none of the sectors are down.

Sector % Change
Energy +3.2%
Financial +1.9%
Healthcare +1.7%
Industrial +1.3%
Consumer Products +1.2%
Materials +1.2%
Utilities +1.0%
Services +0.9%
Technology & Communications +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.

This article appears in: Investing
Referenced Symbols: XLK , KORS , DISCK , IYC , MU

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