Thursday Sector Laggards: Services, Technology & Communications

Looking at the sectors faring worst as of midday Thursday, shares of Services companies are underperforming other sectors, showing a 1.9% loss. Within that group, Caesars Entertainment Inc (Symbol: CZR) and Expedia Group Inc (Symbol: EXPE) are two large stocks that are lagging, showing a loss of 10.0% and 7.2%, respectively. Among the largest ETFs, one ETF closely following services stocks is the iShares U.S. Consumer Services ETF (Symbol: IYC), which is down 2.1% on the day, and down 27.15% year-to-date. Caesars Entertainment Inc, meanwhile, is down 60.02% year-to-date, and Expedia Group Inc, is down 49.14% year-to-date. Combined, CZR and EXPE make up approximately 0.5% of the underlying holdings of IYC.

The next worst performing sector is the Technology & Communications sector, showing a 1.8% loss. Among large Technology & Communications stocks, FactSet Research Systems Inc. (Symbol: FDS) and Enphase Energy Inc. (Symbol: ENPH) are the most notable, showing a loss of 7.3% and 7.1%, respectively. One ETF closely tracking Technology & Communications stocks is the Technology Select Sector SPDR ETF (XLK), which is down 1.0% in midday trading, and down 27.36% on a year-to-date basis. FactSet Research Systems Inc., meanwhile, is down 17.40% year-to-date, and Enphase Energy Inc. is up 54.62% year-to-date. ENPH makes up approximately 0.5% 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 Thursday. As you can see, none of the sectors are up on the day, while nine sectors are down.

Sector % Change
Utilities -0.2%
Energy -0.3%
Consumer Products -0.4%
Healthcare -0.7%
Financial -1.4%
Materials -1.4%
Technology & Communications -1.8%
Industrial -1.8%
Services -1.9%

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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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