Friday Sector Laggards: Energy, Utilities

In afternoon trading on Friday, Energy stocks are the worst performing sector, showing a 1.2% loss. Within that group, TechnipFMC plc (Symbol: FTI) and National Oilwell Varco Inc (Symbol: NOV) are two large stocks that are lagging, showing a loss of 6.1% and 3.1%, respectively. Among energy ETFs, one ETF following the sector is the Energy Select Sector SPDR ETF (Symbol: XLE), which is down 1.7% on the day, and down 47.32% year-to-date. TechnipFMC plc, meanwhile, is down 69.36% year-to-date, and National Oilwell Varco Inc, is down 63.77% year-to-date. Combined, FTI and NOV make up approximately 1.2% of the underlying holdings of XLE.

The next worst performing sector is the Utilities sector, higher by 0.1%. Among large Utilities stocks, Duke Energy Corp (Symbol: DUK) and Eversource Energy (Symbol: ES) are the most notable, showing a loss of 1.6% and 1.0%, respectively. One ETF closely tracking Utilities stocks is the Utilities Select Sector SPDR ETF (XLU), which is flat on the day in midday trading, and up 2.16% on a year-to-date basis. Duke Energy Corp, meanwhile, is up 4.41% year-to-date, and Eversource Energy is up 10.10% year-to-date. Combined, DUK and ES make up approximately 11.0% of the underlying holdings of XLU.

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, eight sectors are up on the day, while one sector is down.

Sector % Change
Services +0.4%
Financial +0.4%
Materials +0.4%
Consumer Products +0.3%
Industrial +0.3%
Healthcare +0.2%
Utilities +0.1%
Technology & Communications +0.1%
Energy -1.2%

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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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