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%

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