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Wednesday Sector Laggards: Technology & Communications, Industrial

The worst performing sector as of midday Wednesday is the Technology & Communications sector, showing a 0.9% loss. Within that group, DXC Technology Co (Symbol: DXC) and AT&T Inc (Symbol: T) are two of the day's laggards, showing a loss of 3.6% and 3.3%, respectively. Among technology ETFs, one ETF following the sector is the Technology Select Sector SPDR ETF (Symbol: XLK), which is down 0.9% on the day, and up 41.38% year-to-date. DXC Technology Co, meanwhile, is down 31.78% year-to-date, and AT&T Inc is up 35.95% year-to-date. DXC makes up approximately 0.1% of the underlying holdings of XLK.

The next worst performing sector is the Industrial sector, showing a 0.9% loss. Among large Industrial stocks, American Airlines Group Inc (Symbol: AAL) and United Rentals Inc (Symbol: URI) are the most notable, showing a loss of 3.5% and 2.8%, respectively. One ETF closely tracking Industrial stocks is the Industrial Select Sector SPDR ETF (XLI), which is down 0.8% in midday trading, and up 27.95% on a year-to-date basis. American Airlines Group Inc, meanwhile, is down 10.70% year-to-date, and United Rentals Inc is up 44.37% year-to-date. Combined, AAL and URI make up approximately 0.9% of the underlying holdings of XLI.

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

Sector % Change
Energy +1.3%
Utilities +0.4%
Healthcare -0.3%
Consumer Products -0.5%
Financial -0.5%
Services -0.7%
Technology & Communications -0.9%
Industrial -0.9%
Materials -0.9%

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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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