Monday Sector Laggards: Technology & Communications, Healthcare

The worst performing sector as of midday Monday is the Technology & Communications sector, showing a 1.3% loss. Within the sector, Qorvo Inc (Symbol: QRVO) and Monolithic Power Systems Inc (Symbol: MPWR) are two of the day's laggards, showing a loss of 6.8% and 5.9%, respectively. Among technology ETFs, one ETF following the sector is the Technology Select Sector SPDR ETF (Symbol: XLK), which is down 1.8% on the day, and up 5.28% year-to-date. Qorvo Inc, meanwhile, is up 3.24% year-to-date, and Monolithic Power Systems Inc, is down 11.80% year-to-date. Combined, QRVO and MPWR make up approximately 0.4% of the underlying holdings of XLK.

The next worst performing sector is the Healthcare sector, higher by 0.5%. Among large Healthcare stocks, Align Technology Inc (Symbol: ALGN) and ABIOMED, Inc. (Symbol: ABMD) are the most notable, showing a loss of 6.8% and 3.7%, respectively. One ETF closely tracking Healthcare stocks is the Health Care Select Sector SPDR ETF (XLV), which is up 0.7% in midday trading, and up 10.47% on a year-to-date basis. Align Technology Inc, meanwhile, is up 4.32% year-to-date, and ABIOMED, Inc., is down 11.85% year-to-date. Combined, ALGN and ABMD make up approximately 1.2% of the underlying holdings of XLV.

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 Monday. As you can see, eight sectors are up on the day, while one sector is down.

Sector % Change
Energy +1.6%
Utilities +1.5%
Financial +1.2%
Consumer Products +0.7%
Services +0.6%
Industrial +0.6%
Materials +0.6%
Healthcare +0.5%
Technology & Communications -1.3%

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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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