Tuesday Sector Laggards: Energy, Services

Published 2 months ago Negative
Tuesday Sector Laggards: Energy, Services
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Looking at the sectors faring worst as of midday Tuesday, shares of Energy companies are underperforming other sectors, showing a 0.4% loss. Within that group, Devon Energy Corp. (Symbol: DVN) and Occidental Petroleum Corp (Symbol: OXY) are two of the day's laggards, showing a loss of 2.9% and 2.6%, respectively. Among energy ETFs, one ETF following the sector is the Energy Select Sector SPDR ETF (Symbol: XLE), which is down 0.5% on the day, and up 9.18% year-to-date. Devon Energy Corp., meanwhile, is up 12.63% year-to-date, and Occidental Petroleum Corp is up 2.47% year-to-date. Combined, DVN and OXY make up approximately 4.0% of the underlying holdings of XLE.

The next worst performing sector is the Services sector, up 0.7%. Among large Services stocks, Walgreens Boots Alliance Inc (Symbol: WBA) and Booking Holdings Inc (Symbol: BKNG) are the most notable, showing a loss of 13.4% and 4.8%, respectively. One ETF closely tracking Services stocks is the iShares U.S. Consumer Services ETF (IYC), which is up 0.9% in midday trading, and up 2.79% on a year-to-date basis. Walgreens Boots Alliance Inc, meanwhile, is up 16.18% year-to-date, and Booking Holdings Inc, is down 5.59% year-to-date. BKNG makes up approximately 2.7% of the underlying holdings of IYC.

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 Tuesday. As you can see, eight sectors are up on the day, while one sector is down. Sector% ChangeHealthcare+1.7%Industrial+1.7%Utilities+1.5%Technology & Communications+1.4%Consumer Products+0.8%Materials+0.8%Services+0.7%Financial+0.7%Energy-0.4%

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Also see:

• Top Ten Hedge Funds Holding SONC
• Institutional Holders of PPP
• Institutional Holders of AEP

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