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WFC

Tuesday Sector Laggards: Financial, Utilities

Looking at the sectors faring worst as of midday Tuesday, shares of Financial companies are underperforming other sectors, showing a 0.1% loss. Within that group, Wells Fargo & Co (Symbol: WFC) and SVB Financial Group (Symbol: SIVB) are two of the day's laggards, showing a loss of 5.2% and 4.0%, respectively. Among financial ETFs, one ETF following the sector is the Financial Select Sector SPDR ETF (Symbol: XLF), which is flat on the day on the day, and down 22.48% year-to-date. Wells Fargo & Co , meanwhile, is down 53.36% year-to-date, and SVB Financial Group, is down 17.98% year-to-date. Combined, WFC and SIVB make up approximately 3.8% of the underlying holdings of XLF.

The next worst performing sector is the Utilities sector, up 0.3%. Among large Utilities stocks, Public Service Enterprise Group Inc (Symbol: PEG) and NiSource Inc. (Symbol: NI) are the most notable, showing a loss of 1.3% and 1.2%, respectively. One ETF closely tracking Utilities stocks is the Utilities Select Sector SPDR ETF (XLU), which is up 0.5% in midday trading, and down 8.62% on a year-to-date basis. Public Service Enterprise Group Inc, meanwhile, is down 11.72% year-to-date, and NiSource Inc. , is down 13.22% year-to-date. Combined, PEG and NI make up approximately 4.4% of the underlying holdings of XLU.

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

Sector % Change
Energy +2.9%
Healthcare +1.5%
Consumer Products +1.3%
Materials +1.3%
Industrial +1.1%
Technology & Communications +0.7%
Services +0.5%
Utilities +0.3%
Financial -0.1%

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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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