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Monday Sector Laggards: Technology & Communications, Materials

By Market News Video Staff, Monday, April 23, 2:32 PM ET
Play Video: The Importance of ETFs


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The worst performing sector as of midday Monday is the Technology & Communications sector, showing a 0.7% loss. Within that group, Micron Technology Inc. (NASDAQ:MU) and Western Digital Corp (NASDAQ:WDC) are two of the day's laggards, showing a loss of 3.5% and 3.0%, respectively. Among technology ETFs, one ETF following the sector is the Technology Select Sector SPDR ETF (NYSE:XLK), which is down 0.5% on the day, and up 3.33% year-to-date. Micron Technology Inc., meanwhile, is up 18.81% year-to-date, and Western Digital Corp is up 9.82% year-to-date. Combined, MU and WDC make up approximately 1.4% of the underlying holdings of XLK.

The next worst performing sector is the Materials sector, showing a 0.4% loss. Among large Materials stocks, Arconic Inc (NYSE:ARNC) and Freeport-McMoran Copper & Gold (NYSE:FCX) are the most notable, showing a loss of 5.1% and 3.0%, respectively. One ETF closely tracking Materials stocks is the Materials Select Sector SPDR ETF (XLB), which is down 0.4% in midday trading, and down 2.57% on a year-to-date basis. Arconic Inc, meanwhile, is down 18.79% year-to-date, and Freeport-McMoran Copper & Gold, is down 0.71% year-to-date. FCX makes up approximately 4.0% 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:

ETF Channel

Here's a snapshot of how the S&P 500 components within the various sectors are faring in afternoon trading on Monday. As you can see, three sectors are up on the day, while four sectors are down.

Sector% Change
Consumer Products+0.5%
Services+0.5%
Healthcare+0.3%
Utilities-0.0%
Energy0.0%
Financial-0.1%
Industrial-0.2%
Materials-0.4%
Technology & Communications-0.7%


This Article's Word Cloud:   ARNC   Among   Arconic   Change   Combined   Communications   Comparing   Consumer   Copper   Corp   Digital   Dividend   ETFs   Energy   Financial   Freeport   Giants   Gold   Healthcare   Held   Here   Materials   McMoran   Micron   Monday   NYSE   SPDR   Sector   Select   Technology   Western   approximately   basis   date   down   holdings   loss   meanwhile   midday   performing   respectively   sector   sectors   showing   stocks   trading   underlying   which   worst   year
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