Wednesday sector delays: services, consumer products

LLooking at the worst performing sectors at midday Wednesday, stocks of service companies underperformed other sectors, posting a loss of 5.9%. Within the sector, Target Corp (Ticker: TGT) and Dollar Tree Inc (Ticker: DLTR) are two of the day’s laggards, posting a loss of 27.5% and 16.6%, respectively. Among the largest ETFs, one ETF closely tracking services stocks is the iShares US Consumer Services ETF (Ticker: IYC), which is down 6.4% on the day and 29.63% since inception of the year. Target Corp, meanwhile, is down 31.76% year-to-date and Dollar Tree Inc, down 7.22% year-to-date. Together, TGT and DLTR represent approximately 2.5% of IYC’s underlying holdings.

The second worst performing sector is the consumer products sector, posting a loss of 5.5%. Among the major consumer products stocks, Newell Brands Inc (ticker: NWL) and JM Smucker Co. (ticker: SJM) are the most notable, posting a loss of 10.2% and 9.9%, respectively. One ETF closely tracking consumer products stocks is the iShares US Consumer Goods (IYK) ETF, which is down 5.0% as of midday and 0.81% year-to-date. Newell Brands Inc, meanwhile, is down 4.14% year-to-date, and JM Smucker Co., down 3.36% year-to-date. SJM represents approximately 0.7% of IYK’s underlying holdings.

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 constituents moved across sectors in Wednesday afternoon trade. As you can see, none of the sectors are up that day, while nine sectors are down.

Sector % Switch
Utilities -0.8%
Health care -2.4%
Financial -2.8%
Materials -3.3%
Energy -3.7%
Technology and communication -3.8%
Industrial -4.0%
consumer products -5.5%
Services -5.9%

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.


Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.
Back to top button