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Thursday Sector Laggards: Financial, Utilities
By Market News Video Staff, Thursday, November 4, 2:31 PM ET
Looking at the sectors faring worst as of midday Thursday, shares of Financial companies are underperforming other sectors, showing a 1.6% loss. Within the sector, Allstate Corp (NYSE:ALL) and Lincoln National Corp. (NYSE:LNC) are two large stocks that are lagging, showing a loss of 8.3% and 5.7%, respectively. Among financial ETFs, one ETF following the sector is the Financial Select Sector SPDR ETF (NYSE:XLF), which is down 1.8% on the day, and up 36.52% year-to-date. Allstate Corp, meanwhile, is up 7.44% year-to-date, and Lincoln National Corp. is up 46.06% year-to-date. Combined, ALL and LNC make up approximately 0.9% of the underlying holdings of XLF.
The next worst performing sector is the Utilities sector, showing a 1.4% loss. Among large Utilities stocks, NRG Energy Inc (NYSE:NRG) and Pinnacle West Capital Corp (NYSE:PNW) are the most notable, showing a loss of 12.3% and 3.0%, respectively. One ETF closely tracking Utilities stocks is the Utilities Select Sector SPDR ETF (XLU), which is down 1.2% in midday trading, and up 7.84% on a year-to-date basis. NRG Energy Inc, meanwhile, is down 3.14% year-to-date, and Pinnacle West Capital Corp, is down 18.02% year-to-date. Combined, NRG and PNW make up approximately 2.0% of the underlying holdings of XLU.
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 Thursday. As you can see, two sectors are up on the day, while seven sectors are down.
Sector
% Change
Technology & Communications
+1.0%
Industrial
+0.4%
Energy
-0.2%
Materials
-0.3%
Services
-0.4%
Consumer Products
-0.5%
Utilities
-1.4%
Healthcare
-1.4%
Financial
-1.6%
This Article's Word Cloud:AllstateAmongBuyingCapitalChangeCombinedCommunicationsComparingConsumerCorpETFsEnergyFinancialHealthcareHereIndustrialInsidersLincolnLookingMaterialsNYSENationalPinnacleSPDRSectorSelectThursdayUtilitiesWestapproximatelybasisdatedownfaringholdingslargelossmakemeanwhilemiddayrespectivelysectorsectorsshowingstockstradingunderlyingwhichworstyear
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