Wednesday Sector Laggards: Utilities, Technology & Communications

The worst performing sector as of midday Wednesday is the Utilities sector, higher by 0.1%. Within that group, Edison International (Symbol: EIX) and Duke Energy Corp (Symbol: DUK) are two large stocks that are lagging, showing a loss of 1.1% and 1.1%, respectively. Among utilities ETFs, one ETF following the sector is the Utilities Select Sector SPDR ETF (Symbol: XLU), which is down 0.1% on the day, and down 8.26% year-to-date. Edison International, meanwhile, is down 24.02% year-to-date, and Duke Energy Corp, is down 9.35% year-to-date. Combined, EIX and DUK make up approximately 10.0% of the underlying holdings of XLU.

The next worst performing sector is the Technology & Communications sector, up 1.0%. Among large Technology & Communications stocks, Fortinet Inc (Symbol: FTNT) and KLA Corp (Symbol: KLAC) are the most notable, showing a loss of 5.9% and 1.9%, respectively. One ETF closely tracking Technology & Communications stocks is the Technology Select Sector SPDR ETF (XLK), which is up 0.6% in midday trading, and up 18.15% on a year-to-date basis. Fortinet Inc, meanwhile, is up 18.58% year-to-date, and KLA Corp is up 11.56% year-to-date. Combined, FTNT and KLAC make up approximately 0.7% 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, nine sectors are up on the day, while none of the sectors are down.

Sector % Change
Services +3.4%
Industrial +3.2%
Consumer Products +2.9%
Healthcare +2.4%
Materials +2.4%
Energy +2.2%
Financial +1.9%
Technology & Communications +1.0%
Utilities +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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