Thursday Sector Laggards: Technology & Communications, Energy

The worst performing sector as of midday Thursday is the Technology & Communications sector, showing a 0.4% loss. Within that group, F5 Networks, Inc. (Symbol: FFIV) and Fortinet Inc (Symbol: FTNT) are two of the day’s laggards, showing a loss of 3.9% and 3.9%, respectively. Among technology ETFs, one ETF following the sector is the Technology Select Sector SPDR ETF (Symbol: XLK), which is up 0.2% on the day, and up 34.11% year-to-date. F5 Networks, Inc., meanwhile, is down 7.94% year-to-date, and Fortinet Inc is up 23.48% year-to-date. Combined, FFIV and FTNT make up approximately 0.3% of the underlying holdings of XLK.

The next worst performing sector is the Energy sector, showing a 0.2% loss. Among large Energy stocks, HollyFrontier Corp (Symbol: HFC) and Baker Hughes Company (Symbol: BKR) are the most notable, showing a loss of 5.1% and 2.1%, respectively. One ETF closely tracking Energy stocks is the Energy Select Sector SPDR ETF (XLE), which is down 0.3% in midday trading, and down 38.91% on a year-to-date basis. HollyFrontier Corp, meanwhile, is down 49.45% year-to-date, and Baker Hughes Company, is down 40.38% year-to-date. Combined, HFC and BKR make up approximately 2.2% of the underlying holdings of XLE.

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 Thursday. As you can see, seven sectors are up on the day, while two sectors are down.

Sector % Change
Financial +2.1%
Services +0.9%
Healthcare +0.8%
Industrial +0.8%
Materials +0.6%
Consumer Products +0.5%
Utilities +0.4%
Energy -0.2%
Technology & Communications -0.4%

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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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