Friday Sector Laggards: Technology & Communications, Healthcare

Published 17 hours ago Negative
Friday Sector Laggards: Technology & Communications, Healthcare
Looking at the sectors faring worst as of midday Friday, shares of Technology & Communications companies are underperforming other sectors, showing a 1.0% loss. Within that group, NetApp, Inc. (Symbol: NTAP) and HP Inc (Symbol: HPQ) are two large stocks that are lagging, showing a loss of 16.7% and 8.9%, respectively. Among technology ETFs, one ETF following the sector is the Technology Select Sector SPDR ETF (Symbol: XLK), which is down 0.8% on the day, and down 5.03% year-to-date. NetApp, Inc., meanwhile, is down 14.67% year-to-date, and HP Inc, is down 7.46% year-to-date. Combined, NTAP and HPQ make up approximately 0.6% of the underlying holdings of XLK.

The next worst performing sector is the Healthcare sector, showing a 0.8% loss. Among large Healthcare stocks, Universal Health Services, Inc. (Symbol: UHS) and HCA Healthcare Inc (Symbol: HCA) are the most notable, showing a loss of 8.3% and 6.2%, respectively. One ETF closely tracking Healthcare stocks is the Health Care Select Sector SPDR ETF (XLV), which is down 0.3% in midday trading, and up 6.64% on a year-to-date basis. Universal Health Services, Inc., meanwhile, is down 4.90% year-to-date, and HCA Healthcare Inc is up 0.31% year-to-date. Combined, UHS and HCA make up approximately 1.2% of the underlying holdings of XLV.

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 Friday. As you can see, four sectors are up on the day, while four sectors are down. Sector% ChangeEnergy+1.2%Utilities+0.7%Financial+0.3%Consumer Products+0.1%Services-0.0%Industrial-0.2%Materials-0.4%Healthcare-0.8%Technology & Communications-1.0%

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