Friday Sector Laggards: Services, Materials

The worst performing sector as of midday Friday is the Services sector, showing a 3.1% loss. Within that group, Caesars Entertainment Inc (Symbol: CZR) and MGM Resorts International (Symbol: MGM) are two large stocks that are lagging, showing a loss of 8.5% and 6.8%, respectively. Among the largest ETFs, one ETF closely following services stocks is the iShares U.S. Consumer Services ETF (Symbol: IYC), which is down 3.0% on the day, and down 28.43% year-to-date. Caesars Entertainment Inc, meanwhile, is down 50.94% year-to-date, and MGM Resorts International, is down 28.69% year-to-date. Combined, CZR and MGM make up approximately 0.5% of the underlying holdings of IYC.

The next worst performing sector is the Materials sector, showing a 2.9% loss. Among large Materials stocks, PPG Industries Inc (Symbol: PPG) and Dow Inc (Symbol: DOW) are the most notable, showing a loss of 6.4% and 5.7%, respectively. One ETF closely tracking Materials stocks is the Materials Select Sector SPDR ETF (XLB), which is down 2.8% in midday trading, and down 9.23% on a year-to-date basis. PPG Industries Inc, meanwhile, is down 31.99% year-to-date, and Dow Inc is up 11.99% year-to-date. Combined, PPG and DOW make up approximately 7.9% 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:

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.

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