Friday Sector Laggards: Technology & Communications, Services

In afternoon trading on Friday, Technology & Communications stocks are the worst performing sector, showing a 0.6% loss. Within the sector, Micron Technology Inc. (Symbol: MU) and DXC Technology Co (Symbol: DXC) are two large stocks that are lagging, showing a loss of 4.4% and 4.3%, respectively. Among technology ETFs, one ETF following the sector is the Technology Select Sector SPDR ETF (Symbol: XLK), which is down 0.8% on the day, and up 32.02% year-to-date. Micron Technology Inc., meanwhile, is up 37.06% year-to-date, and DXC Technology Co, is down 48.62% year-to-date. Combined, MU and DXC make up approximately 1.1% of the underlying holdings of XLK.

The next worst performing sector is the Services sector, showing a 0.5% loss. Among large Services stocks, L Brands, Inc (Symbol: LB) and Netflix Inc (Symbol: NFLX) are the most notable, showing a loss of 8.8% and 6.2%, respectively. One ETF closely tracking Services stocks is the iShares U.S. Consumer Services ETF (IYC), which is down 0.4% in midday trading, and up 22.62% on a year-to-date basis. L Brands, Inc, meanwhile, is down 32.16% year-to-date, and Netflix Inc is up 2.74% year-to-date. Combined, LB and NFLX make up approximately 4.0% 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
Financial +0.8%
Utilities +0.4%
Consumer Products +0.2%
Materials +0.2%
Industrial +0.1%
Healthcare -0.2%
Energy -0.2%
Services -0.5%
Technology & Communications -0.6%

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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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