Wednesday Sector Laggards: Utilities, Technology & Communications

Looking at the sectors faring worst as of midday Wednesday, shares of Utilities companies are underperforming other sectors, showing a 1.3% loss. Within that group, Evergy Inc (Symbol: EVRG) and Consolidated Edison Inc (Symbol: ED) are two of the day's laggards, showing a loss of 3.4% and 2.8%, respectively. Among utilities ETFs, one ETF following the sector is the Utilities Select Sector SPDR ETF (Symbol: XLU), which is down 1.1% on the day, and down 5.47% year-to-date. Evergy Inc, meanwhile, is down 16.22% year-to-date, and Consolidated Edison Inc, is down 16.72% year-to-date. Combined, EVRG and ED make up approximately 4.7% of the underlying holdings of XLU.

The next worst performing sector is the Technology & Communications sector, showing a 0.1% loss. Among large Technology & Communications stocks, Arista Networks Inc (Symbol: ANET) and Microchip Technology Inc (Symbol: MCHP) are the most notable, showing a loss of 10.3% and 7.5%, respectively. One ETF closely tracking Technology & Communications stocks is the Technology Select Sector SPDR ETF (XLK), which is up 0.3% in midday trading, and up 24.78% on a year-to-date basis. Arista Networks Inc, meanwhile, is up 16.47% year-to-date, and Microchip Technology Inc, is down 4.47% year-to-date. Combined, ANET and MCHP make up approximately 0.5% 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, six sectors are up on the day, while two sectors are down.

Sector % Change
Materials +2.6%
Energy +1.5%
Industrial +1.3%
Consumer Products +1.2%
Financial +1.2%
Healthcare +0.3%
Services -0.0%
Technology & Communications -0.1%
Utilities -1.3%

10 ETFs With Stocks That Insiders Are Buying »

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story


Other Topics


Latest Markets Videos

BNK Invest

BNK Invest Inc. provides investment services and information. BNK Invest owns and operates a market news family of websites including DividendChannel, ETFChannel, StockOptionsChannel, and others, which make up an investor community featuring stock message boards, ratings, research, and strategies. BNK Invest caters to investing firms and individual investors internationally.

Learn More