Thursday Sector Laggards: Technology & Communications, Materials

Thursday Sector Laggards: Technology & Communications, Materials

In afternoon trading on Thursday, Technology & Communications stocks are the worst performing sector, showing a 1.5% loss. Within that group, NetApp, Inc. (Symbol: NTAP) and Automatic Data Processing Inc. (Symbol: ADP) are two large stocks that are lagging, showing a loss of 6.3% and 4.9%, 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 up 19.80% year-to-date. NetApp, Inc., meanwhile, is up 14.29% year-to-date, and Automatic Data Processing Inc. is up 3.94% year-to-date. Combined, NTAP and ADP make up approximately 1.1% of the underlying holdings of XLK.

The next worst performing sector is the Materials sector, showing a 1.2% loss. Among large Materials stocks, Nucor Corp. (Symbol: NUE) and Freeport-McMoran Copper & Gold (Symbol: FCX) are the most notable, showing a loss of 3.3% and 2.7%, respectively. One ETF closely tracking Materials stocks is the Materials Select Sector SPDR ETF ( XLB ), which is down 1.0% in midday trading, and up 9.39% on a year-to-date basis. Nucor Corp., meanwhile, is down 6.59% year-to-date, and Freeport-McMoran Copper & Gold is up 8.95% year-to-date. Combined, NUE and FCX make up approximately 6.2% of the underlying holdings of XLB.

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:

Energy Stock Channel 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, none of the sectors are up on the day, while nine sectors are down.

Sector % Change
Utilities -0.4%
Consumer Products -0.7%
Services -0.7%
Healthcare -0.8%
Energy -0.8%
Financial -0.9%
Industrial -1.1%
Materials -1.2%
Technology & Communications -1.5%

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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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