Markets

Monday Sector Laggards: Technology & Communications, Industrial

Looking at the sectors faring worst as of midday Monday, shares of Technology & Communications companies are underperforming other sectors, showing a 1.1% loss. Within that group, Cadence Design Systems Inc (Symbol: CDNS) and Synopsys Inc (Symbol: SNPS) are two large stocks that are lagging, showing a loss of 3.5% and 3.4%, respectively. Among technology ETFs, one ETF following the sector is the Technology Select Sector SPDR ETF (Symbol: XLK), which is down 1.1% on the day, and up 41.92% year-to-date. Cadence Design Systems Inc, meanwhile, is up 55.88% year-to-date, and Synopsys Inc is up 61.81% year-to-date. Combined, CDNS and SNPS make up approximately 0.7% of the underlying holdings of XLK.

The next worst performing sector is the Industrial sector, showing a 0.7% loss. Among large Industrial stocks, L3Harris Technologies Inc (Symbol: LHX) and Keysight Technologies Inc (Symbol: KEYS) are the most notable, showing a loss of 3.0% and 2.9%, respectively. One ETF closely tracking Industrial stocks is the Industrial Select Sector SPDR ETF (XLI), which is down 0.9% in midday trading, and up 28.02% on a year-to-date basis. L3Harris Technologies Inc, meanwhile, is up 47.00% year-to-date, and Keysight Technologies Inc is up 67.41% year-to-date. LHX makes up approximately 2.0% of the underlying holdings of XLI.

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, one sector is up on the day, while eight sectors are down.

Sector % Change
Energy +0.1%
Materials -0.1%
Consumer Products -0.3%
Healthcare -0.3%
Services -0.5%
Utilities -0.5%
Financial -0.6%
Industrial -0.7%
Technology & Communications -1.1%

25 Dividend Giants Widely Held By ETFs »

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

CDNS SNPS XLK LHX KEYS

Other Topics

Stocks

Latest Markets Videos