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Wednesday Sector Laggards: Utilities, Services
By Market News Video Staff, Wednesday, February 24, 3:18 PM ET
In afternoon trading on Wednesday, Utilities stocks are the worst performing sector, showing a 0.3% loss. Within the sector, Pinnacle West Capital Corp (NYSE:PNW) and Public Service Enterprise Group Inc (NYSE:PEG) are two large stocks that are lagging, showing a loss of 2.8% and 2.5%, respectively. Among utilities ETFs, one ETF following the sector is the Utilities Select Sector SPDR ETF (NYSE:XLU), which is down 0.5% on the day, and down 3.70% year-to-date. Pinnacle West Capital Corp, meanwhile, is down 7.18% year-to-date, and Public Service Enterprise Group Inc, is down 3.34% year-to-date. Combined, PNW and PEG make up approximately 4.3% of the underlying holdings of XLU.
The next worst performing sector is the Services sector, up 0.4%. Among large Services stocks, Lowe's Companies Inc (NYSE:LOW) and Discovery Inc - Series C (DISCK) are the most notable, showing a loss of 3.3% and 3.0%, respectively. One ETF closely tracking Services stocks is the iShares U.S. Consumer Services ETF (IYC), which is up 0.3% in midday trading, and up 4.84% on a year-to-date basis. Lowe's Companies Inc, meanwhile, is up 1.89% year-to-date, and Discovery Inc - Series C is up 63.54% year-to-date. Combined, LOW and DISCK make up approximately 3.3% of the underlying holdings of IYC.
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 Wednesday. As you can see, eight sectors are up on the day, while one sector is down.
Sector
% Change
Energy
+3.9%
Industrial
+2.1%
Financial
+2.0%
Materials
+1.9%
Technology & Communications
+1.4%
Consumer Products
+0.9%
Healthcare
+0.8%
Services
+0.4%
Utilities
-0.3%
This Article's Word Cloud:AmongCapitalChangeCombinedCommunicationsCompaniesComparingConsumerCorpDISCKDiscoveryDividendETFsEnergyEnterpriseFinancialGiantsGroupLoweNYSEPinnaclePublicSectorSeriesServiceServicesUtilitiesWednesdayWestafternoonapproximatelybasisdatedownholdingslargelossmakemeanwhileperformingrespectivelysectorsectorsshowingstockstradingunderlyingwhichworstyear
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