Tuesday Sector Laggards: Utilities, Technology & Communications

Looking at the sectors faring worst as of midday Tuesday, shares of Utilities companies are underperforming other sectors, showing a 0.6% loss. Within the sector, CMS Energy Corp (Symbol: CMS) and American Water Works Co, Inc. (Symbol: AWK) 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 0.6% on the day, and up 19.16% year-to-date. CMS Energy Corp, meanwhile, is up 23.38% year-to-date, and American Water Works Co, Inc. is up 33.51% year-to-date. Combined, CMS and AWK make up approximately 4.6% of the underlying holdings of XLU.

The next worst performing sector is the Technology & Communications sector, showing a 0.5% loss. Among large Technology & Communications stocks, SBA Communications Corp (Symbol: SBAC) and Cadence Design Systems Inc (Symbol: CDNS) are the most notable, showing a loss of 4.6% and 4.5%, respectively. One ETF closely tracking Technology & Communications stocks is the Technology Select Sector SPDR ETF (XLK), which is down 1.1% in midday trading, and up 29.90% on a year-to-date basis. SBA Communications Corp , meanwhile, is up 48.78% year-to-date, and Cadence Design Systems Inc is up 50.31% year-to-date. CDNS makes up approximately 0.3% 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 Tuesday. As you can see, six sectors are up on the day, while three sectors are down.

Sector % Change
Materials +1.7%
Energy +1.0%
Healthcare +0.5%
Services +0.4%
Consumer Products +0.3%
Industrial +0.2%
Financial -0.1%
Technology & Communications -0.5%
Utilities -0.6%

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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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