Friday Sector Laggards: Energy, Services

The worst performing sector as of midday Friday is the Energy sector, showing a 1.6% loss. Within that group, Occidental Petroleum Corp (Symbol: OXY) and HollyFrontier Corp (Symbol: HFC) are two large stocks that are lagging, showing a loss of 4.1% and 4.0%, respectively. Among energy ETFs, one ETF following the sector is the Energy Select Sector SPDR ETF (Symbol: XLE), which is down 1.5% on the day, and down 37.20% year-to-date. Occidental Petroleum Corp, meanwhile, is down 58.46% year-to-date, and HollyFrontier Corp, is down 44.81% year-to-date. Combined, OXY and HFC make up approximately 3.2% of the underlying holdings of XLE.

The next worst performing sector is the Services sector, showing a 0.6% loss. Among large Services stocks, Netflix Inc (Symbol: NFLX) and MGM Resorts International (Symbol: MGM) are the most notable, showing a loss of 7.1% and 5.2%, respectively. One ETF closely tracking Services stocks is the iShares U.S. Consumer Services ETF (IYC), which is down 0.6% in midday trading, and up 1.42% on a year-to-date basis. Netflix Inc, meanwhile, is up 51.40% year-to-date, and MGM Resorts International, is down 49.38% year-to-date. Combined, NFLX and MGM make up approximately 4.5% of the underlying holdings of IYC.

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 Friday. As you can see, five sectors are up on the day, while four sectors are down.

Sector % Change
Utilities +1.9%
Healthcare +1.8%
Technology & Communications +0.7%
Industrial +0.4%
Materials +0.3%
Consumer Products -0.2%
Financial -0.3%
Services -0.6%
Energy -1.6%

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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.

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