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Tuesday Sector Laggards: Technology & Communications, Energy
By Market News Video Staff, Tuesday, March 2, 4:03 PM ET
In afternoon trading on Tuesday, Technology & Communications stocks are the worst performing sector, showing a 1.1% loss. Within the sector, Enphase Energy Inc. (NASDAQ:ENPH) and KLA Corp (NASDAQ:KLAC) are two large stocks that are lagging, showing a loss of 7.7% and 4.1%, respectively. Among technology ETFs, one ETF following the sector is the Technology Select Sector SPDR ETF (NYSE:XLK), which is down 1.0% on the day, and up 2.68% year-to-date. Enphase Energy Inc., meanwhile, is down 1.95% year-to-date, and KLA Corp is up 21.10% year-to-date. Combined, ENPH and KLAC make up approximately 0.8% of the underlying holdings of XLK.
The next worst performing sector is the Energy sector, showing a 0.3% loss. Among large Energy stocks, Diamondback Energy, Inc. (NASDAQ:FANG) and NOV Inc (NYSE:NOV) are the most notable, showing a loss of 3.6% and 3.4%, respectively. One ETF closely tracking Energy stocks is the Energy Select Sector SPDR ETF (XLE), which is flat on the day in midday trading, and up 30.38% on a year-to-date basis. Diamondback Energy, Inc., meanwhile, is up 46.67% year-to-date, and NOV Inc is up 10.09% year-to-date. Combined, FANG and NOV make up approximately 2.0% 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 Tuesday. As you can see, four sectors are up on the day, while three sectors are down.
Sector
% Change
Materials
+0.8%
Consumer Products
+0.5%
Services
+0.3%
Industrial
+0.1%
Utilities
0.0%
Healthcare
-0.0%
Financial
-0.2%
Energy
-0.3%
Technology & Communications
-1.1%
This Article's Word Cloud:AmongBuyingChangeCombinedCommunicationsComparingConsumerCorpDiamondbackENPHETFsEnergyEnphaseFANGFinancialHealthcareHereIndustrialInsidersKLACMaterialsNYSEProductsSPDRSectorSelectServicesTechnologyTuesdayafternoonapproximatelybasisdatedownholdingslargelossmakemeanwhileperformingrespectivelysectorsectorsshowingstockstradingunderlyingwhichworstyear
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