News

We provide the latest news
from the world of economics and finance

20 June
Thursday Sector Laggards: Technology & Communications, Industrial

The worst performing sector as of midday Thursday is the Technology & Communications sector, showing a 0.5% loss. Within that group, Enphase Energy Inc. (Symbol: ENPH) and Qualcomm Inc (Symbol: QCOM) are two of the day's laggards, showing a loss of 8.3% and 5.5%, respectively. Among technology ETFs, one ETF following the sector is the Technology Select Sector SPDR ETF (Symbol: XLK), which is down 1.1% on the day, and up 19.04% year-to-date. Enphase Energy Inc., meanwhile, is down 17.43% year-to-date, and Qualcomm Inc is up 49.52% year-to-date. Combined, ENPH and QCOM make up approximately 2.5% of the underlying holdings of XLK.

The next worst performing sector is the Industrial sector, showing a 0.1% loss. Among large Industrial stocks, Jabil Inc (Symbol: JBL) and Quanta Services, Inc. (Symbol: PWR) are the most notable, showing a loss of 9.7% and 2.9%, respectively. One ETF closely tracking Industrial stocks is the Industrial Select Sector SPDR ETF (XLI), which is down 0.1% in midday trading, and up 8.29% on a year-to-date basis. Jabil Inc, meanwhile, is down 10.36% year-to-date, and Quanta Services, Inc. is up 26.58% year-to-date. PWR makes up approximately 1.1% of the underlying holdings of XLI.

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, five sectors are up on the day, while three sectors are down.

Also see:

Carl Icahn Stock Picks
TNXP Historical PE Ratio
Institutional Holders of MDCA

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.