In afternoon trading on Friday, Materials stocks are the worst performing sector, showing a 0.5% loss. Within that group, Steel Dynamics Inc. (Symbol: STLD) and Albemarle Corp. (Symbol: ALB) are two large stocks that are lagging, showing a loss of 3.9% and 3.8%, respectively. Among the high volume ETFs, one ETF closely following materials stocks is the Materials Select Sector SPDR ETF (Symbol: XLB), which is down 0.8% on the day, and up 3.12% year-to-date. Steel Dynamics Inc., meanwhile, is up 10.42% year-to-date, and Albemarle Corp., is down 32.67% year-to-date. Combined, STLD and ALB make up approximately 3.2% of the underlying holdings of XLB.
The next worst performing sector is the Technology & Communications sector, showing a 0.3% loss. Among large Technology & Communications stocks, Arista Networks Inc (Symbol: ANET) and Cognizant Technology Solutions Corp. (Symbol: CTSH) are the most notable, showing a loss of 4.2% and 3.6%, respectively. One ETF closely tracking Technology & Communications stocks is the Technology Select Sector SPDR ETF (XLK), which is down 0.6% in midday trading, and up 3.50% on a year-to-date basis. Arista Networks Inc, meanwhile, is down 21.79% year-to-date, and Cognizant Technology Solutions Corp., is down 0.01% year-to-date. Combined, ANET and CTSH make up approximately 1.4% 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:
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 three sectors are down.
| Sector | % Change |
|---|---|
| Services | +0.4% |
| Utilities | +0.3% |
| Financial | +0.3% |
| Energy | +0.3% |
| Consumer Products | +0.2% |
| Healthcare | -0.0% |
| Industrial | -0.2% |
| Technology & Communications | -0.3% |
| Materials | -0.5% |
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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.
