Wednesday Sector Laggards: Energy, Technology & Communications

In afternoon trading on Wednesday, Energy stocks are the worst performing sector, showing a 2.0% loss. Within the sector, Halliburton Company (Symbol: HAL) and Baker Hughes, A GE Company (Symbol: BHGE) are two large stocks that are lagging, showing a loss of 4.0% and 3.8%, respectively. Among energy ETFs, one ETF following the sector is the Energy Select Sector SPDR ETF (Symbol: XLE), which is down 1.4% on the day, and up 6.73% year-to-date. Halliburton Company, meanwhile, is down 18.89% year-to-date, and Baker Hughes, A GE Company is up 5.35% year-to-date. Combined, HAL and BHGE make up approximately 2.7% of the underlying holdings of XLE.

The next worst performing sector is the Technology & Communications sector, showing a 0.7% loss. Among large Technology & Communications stocks, Western Digital Corp (Symbol: WDC) and Micron Technology Inc. (Symbol: MU) are the most notable, showing a loss of 5.8% and 5.8%, respectively. One ETF closely tracking Technology & Communications stocks is the Technology Select Sector SPDR ETF (XLK), which is down 0.7% in midday trading, and up 23.75% on a year-to-date basis. Western Digital Corp, meanwhile, is down 0.81% year-to-date, and Micron Technology Inc. is up 3.44% year-to-date. Combined, WDC and MU make up approximately 1.0% 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 Wednesday. As you can see, four sectors are up on the day, while four sectors are down.

Sector % Change
Utilities +1.0%
Materials +0.2%
Healthcare +0.1%
Industrial +0.1%
Services 0.0%
Consumer Products -0.1%
Financial -0.3%
Technology & Communications -0.7%
Energy -2.0%

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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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