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Wednesday Sector Laggards: Services, Technology & Communications

By Market News Video Staff, Wednesday, May 12, 2:38 PM ET
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The worst performing sector as of midday Wednesday is the Services sector, showing a 2.8% loss. Within the sector, Penn National Gaming Inc (NASDAQ:PENN) and Caesars Entertainment Inc (NASDAQ:CZR) are two large stocks that are lagging, showing a loss of 7.2% and 6.7%, respectively. Among the largest ETFs, one ETF closely following services stocks is the iShares U.S. Consumer Services ETF (NYSE:IYC), which is down 2.5% on the day, and up 5.70% year-to-date. Penn National Gaming Inc, meanwhile, is down 10.74% year-to-date, and Caesars Entertainment Inc is up 26.63% year-to-date.

The next worst performing sector is the Technology & Communications sector, showing a 2.6% loss. Among large Technology & Communications stocks, Applied Materials, Inc. (NASDAQ:AMAT) and Etsy Inc (NASDAQ:ETSY) are the most notable, showing a loss of 6.3% and 5.3%, respectively. One ETF closely tracking Technology & Communications stocks is the Technology Select Sector SPDR ETF (XLK), which is down 2.7% in midday trading, and up 1.37% on a year-to-date basis. Applied Materials, Inc., meanwhile, is up 34.33% year-to-date, and Etsy Inc, is down 9.57% year-to-date. AMAT makes up approximately 1.3% of the underlying holdings of XLK.

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, one sector is up on the day, while eight sectors are down.

Sector% Change
Energy+1.6%
Healthcare-0.8%
Financial-1.2%
Utilities-1.6%
Consumer Products-1.8%
Industrial-1.8%
Materials-1.9%
Technology & Communications-2.6%
Services-2.8%


This Article's Word Cloud:   AMAT   Among   Applied   Caesars   Change   Communications   Comparing   Consumer   Dividend   ETFs   ETSY   Energy   Entertainment   Etsy   Financial   Gaming   Giants   Healthcare   Held   Here   Industrial   Materials   NYSE   National   PENN   Penn   Products   SPDR   Sector   Services   Technology   Wednesday   basis   closely   date   down   large   loss   meanwhile   midday   performing   respectively   sector   sectors   showing   stocks   trading   which   worst   year
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