Thursday Lagging Sector: Energy, Services
LLooking at the sectors that fared the worst Thursday at midday, energy company stocks underperformed other sectors, posting a loss of 2.8%. Within this group, Baker Hughes Company (symbol: BKR) and Devon Energy Corp. (ticker: DVN) are two large stocks that are lagging behind, posting a loss of 8.1% and 4.9%, respectively. Among energy ETFs, a sector-tracking ETF is the SPDR Energy Select Sector ETF (Ticker: XLE), which is down 2.5% on the day and up 42.94% since the start of the month. year. Baker Hughes Company, meanwhile, is up 35.68% year-to-date and Devon Energy Corp. is up 41.82% since the start of the year. Together, BKR and DVN represent approximately 5.3% of XLE’s underlying holdings.
The second worst performing sector is the service sector, posting a loss of 1.5%. Among the large services stocks, Match Group Inc (ticker: MTCH) and PayPal Holdings Inc (ticker: PYPL) are the most notable, posting a loss of 7.5% and 5.9%, respectively. One ETF closely tracking services stocks is the iShares US Consumer Services ETF (IYC), which is down 0.9% as of midday and 13.14% year-to-date. Match Group Inc, meanwhile, is down 40.78% year-to-date, and PayPal Holdings Inc, down 52.65% year-to-date.
Comparing these stocks and ETFs on a twelve-month basis, below is a graph of relative stock price performance, with each of the symbols displayed in a different color, as shown in the legend at the bottom:
Here’s a look at how the S&P 500 components across sectors are faring in Thursday afternoon trading. As you can see, one sector is up on this day, while eight sectors are down.
| Sector | % Switch |
|---|---|
| consumer products | +0.3% |
| Utilities | -0.4% |
| Financial | -0.6% |
| Industrial | -0.8% |
| Health care | -0.9% |
| Materials | -1.3% |
| Services | -1.5% |
| Technology and communication | -1.5% |
| Energy | -2.8% |
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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