Friday Sector Laggards: Energy, Technology & Communications

In afternoon trading on Friday, Energy stocks are the worst performing sector, higher by 0.6%. Within the sector, Targa Resources Corp (Symbol: TRGP) and Coterra Energy Inc (Symbol: CTRA) are two large stocks that are lagging, showing a loss of 0.3% and 0.2%, respectively. Among energy ETFs, one ETF following the sector is the Energy Select Sector SPDR ETF (Symbol: XLE), which is up 0.5% on the day, and up 3.29% year-to-date. Targa Resources Corp, meanwhile, is up 30.21% year-to-date, and Coterra Energy Inc is up 17.88% year-to-date. Combined, TRGP and CTRA make up approximately 3.0% of the underlying holdings of XLE.

The next worst performing sector is the Technology & Communications sector, higher by 0.8%. Among large Technology & Communications stocks, Intel Corp (Symbol: INTC) and Arista Networks Inc (Symbol: ANET) are the most notable, showing a loss of 1.8% and 1.6%, respectively. One ETF closely tracking Technology & Communications stocks is the Technology Select Sector SPDR ETF (XLK), which is flat on the day in midday trading, and up 51.10% on a year-to-date basis. Intel Corp, meanwhile, is up 66.98% year-to-date, and Arista Networks Inc is up 78.85% year-to-date. Combined, INTC and ANET make up approximately 2.6% 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, nine sectors are up on the day, while none of the sectors are down.

Sector % Change
Financial +1.8%
Services +1.7%
Industrial +1.6%
Materials +1.5%
Consumer Products +1.3%
Utilities +1.1%
Healthcare +1.1%
Technology & Communications +0.8%
Energy +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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