Thursday Sector Laggards: Technology & Communications, Financial

In afternoon trading on Thursday, Technology & Communications stocks are the worst performing sector, showing a 1.0% loss. Within the sector, Epam Systems, Inc. (Symbol: EPAM) and Seagate Technology Holdings PLC (Symbol: STX) are two large stocks that are lagging, showing a loss of 4.4% and 3.3%, respectively. Among technology ETFs, one ETF following the sector is the Technology Select Sector SPDR ETF (Symbol: XLK), which is down 1.3% on the day, and down 14.51% year-to-date. Epam Systems, Inc., meanwhile, is down 55.94% year-to-date, and Seagate Technology Holdings PLC, is down 27.39% year-to-date. Combined, EPAM and STX make up approximately 0.3% of the underlying holdings of XLK.

The next worst performing sector is the Financial sector, showing a 0.1% loss. Among large Financial stocks, State Street Corp. (Symbol: STT) and Wells Fargo & Co (Symbol: WFC) are the most notable, showing a loss of 6.3% and 5.1%, respectively. One ETF closely tracking Financial stocks is the Financial Select Sector SPDR ETF (XLF), which is down 0.7% in midday trading, and down 4.73% on a year-to-date basis. State Street Corp., meanwhile, is down 15.34% year-to-date, and Wells Fargo & Co, is down 3.48% year-to-date. Combined, STT and WFC make up approximately 5.0% of the underlying holdings of XLF.

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:

Stock Message Boards

Here’s a snapshot of how the S&P 500 components within the various sectors are faring in afternoon trading on Thursday. As you can see, six sectors are up on the day, while two sectors are down.

Sector % change
Energy +0.9%
Utilities +0.7%
Consumer Products +0.5%
Industrial +0.3%
Materials +0.3%
Services +0.1%
Healthcare -0.0%
Financial -0.1%
Technology & Communications -1.0%

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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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