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Wednesday Sector Laggards: Energy, Financial
By Market News Video Staff, Wednesday, October 27, 2:30 PM ET
The worst performing sector as of midday Wednesday is the Energy sector, showing a 2.3% loss. Within that group, Phillips 66 (NYSE:PSX) and Occidental Petroleum Corp (NYSE:OXY) are two large stocks that are lagging, showing a loss of 5.2% and 4.2%, respectively. Among energy ETFs, one ETF following the sector is the Energy Select Sector SPDR ETF (NYSE:XLE), which is down 2.2% on the day, and up 56.97% year-to-date. Phillips 66, meanwhile, is up 15.36% year-to-date, and Occidental Petroleum Corp is up 95.84% year-to-date. Combined, PSX and OXY make up approximately 6.6% of the underlying holdings of XLE.
The next worst performing sector is the Financial sector, showing a 0.9% loss. Among large Financial stocks, Capital One Financial Corp (NYSE:COF) and Discover Financial Services (NYSE:DFS) are the most notable, showing a loss of 7.0% and 5.0%, respectively. One ETF closely tracking Financial stocks is the Financial Select Sector SPDR ETF (XLF), which is down 1.1% in midday trading, and up 37.80% on a year-to-date basis. Capital One Financial Corp, meanwhile, is up 57.21% year-to-date, and Discover Financial Services is up 30.64% year-to-date. Combined, COF and DFS make up approximately 2.4% of the underlying holdings of XLF.
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, one sector is up on the day, while eight sectors are down.
Sector
% Change
Technology & Communications
+0.3%
Services
-0.2%
Utilities
-0.5%
Healthcare
-0.6%
Consumer Products
-0.7%
Industrial
-0.8%
Materials
-0.8%
Financial
-0.9%
Energy
-2.3%
This Article's Word Cloud:AmongCapitalChangeCombinedCommunicationsComparingConsumerCorpDiscoverDividendETFsEnergyFinancialGiantsHealthcareHeldHereIndustrialMaterialsNYSEOccidentalPetroleumPhillipsSPDRSectorSelectServicesWednesdayapproximatelybasisdatedownholdingslargelossmakemeanwhilemiddayperformingrespectivelysectorsectorsshowingstocksthattradingunderlyingwhichworstyear
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