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Wednesday Sector Laggards: Financial, Energy

By Market News Video Staff, Wednesday, October 13, 3:25 PM ET
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Looking at the sectors faring worst as of midday Wednesday, shares of Financial companies are underperforming other sectors, showing a 0.3% loss. Within the sector, Discover Financial Services (NYSE:DFS) and Capital One Financial Corp (NYSE:COF) are two large stocks that are lagging, showing a loss of 3.5% and 3.5%, respectively. Among financial ETFs, one ETF following the sector is the Financial Select Sector SPDR ETF (NYSE:XLF), which is down 0.8% on the day, and up 31.11% year-to-date. Discover Financial Services, meanwhile, is up 37.28% year-to-date, and Capital One Financial Corp is up 65.74% year-to-date. Combined, DFS and COF make up approximately 2.6% of the underlying holdings of XLF.

The next worst performing sector is the Energy sector, showing a 0.3% loss. Among large Energy stocks, Occidental Petroleum Corp (NYSE:OXY) and Diamondback Energy, Inc. (NASDAQ:FANG) are the most notable, showing a loss of 1.9% and 1.7%, respectively. One ETF closely tracking Energy stocks is the Energy Select Sector SPDR ETF (XLE), which is down 0.2% in midday trading, and up 52.80% on a year-to-date basis. Occidental Petroleum Corp, meanwhile, is up 87.25% year-to-date, and Diamondback Energy, Inc. is up 125.91% year-to-date. Combined, OXY and FANG make up approximately 4.8% 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:

Canada Stock Channel

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, six sectors are up on the day, while two sectors are down.

Sector% Change
Utilities+0.9%
Technology & Communications+0.8%
Materials+0.4%
Consumer Products+0.3%
Services+0.2%
Healthcare+0.2%
Industrial0.0%
Financial-0.3%
Energy-0.3%


This Article's Word Cloud:   Among   Buying   Capital   Change   Combined   Communications   Comparing   Consumer   Corp   Diamondback   Discover   ETFs   Energy   FANG   Financial   Healthcare   Here   Industrial   Insiders   Looking   Materials   NYSE   Occidental   Petroleum   SPDR   Sector   Select   Services   Wednesday   approximately   basis   date   down   faring   holdings   large   loss   make   meanwhile   midday   respectively   sector   sectors   showing   stocks   trading   underlying   which   worst   year
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