Tuesday Sector Laggards: Utilities, Materials

Looking at the sectors faring worst as of midday Tuesday, shares of Utilities companies are underperforming other sectors, showing a 1.0% loss. Within the sector, Xcel Energy Inc (Symbol: XEL) and Consolidated Edison Inc (Symbol: ED) are two large stocks that are lagging, showing a loss of 2.2% and 2.1%, respectively. Among utilities ETFs, one ETF following the sector is the Utilities Select Sector SPDR ETF (Symbol: XLU), which is down 1.0% on the day, and down 6.70% year-to-date. Xcel Energy Inc, meanwhile, is up 9.77% year-to-date, and Consolidated Edison Inc, is down 17.04% year-to-date. Combined, XEL and ED make up approximately 7.4% of the underlying holdings of XLU.

The next worst performing sector is the Materials sector, showing a 0.8% loss. Among large Materials stocks, WestRock Co (Symbol: WRK) and International Paper Co (Symbol: IP) are the most notable, showing a loss of 2.7% and 2.6%, respectively. One ETF closely tracking Materials stocks is the Materials Select Sector SPDR ETF (XLB), which is down 0.6% in midday trading, and up 2.91% on a year-to-date basis. WestRock Co, meanwhile, is down 27.04% year-to-date, and International Paper Co, is down 17.81% year-to-date. Combined, WRK and IP make up approximately 3.2% of the underlying holdings of XLB.

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, two sectors are up on the day, while six sectors are down.

Sector % Change
Healthcare +0.5%
Technology & Communications +0.1%
Financial -0.0%
Services -0.2%
Industrial -0.3%
Consumer Products -0.4%
Energy -0.7%
Materials -0.8%
Utilities -1.0%

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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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