Friday Sector Laggards: Services, Financial

In afternoon trading on Friday, Services stocks are the worst performing sector, showing a 1.3% loss. Within that group, Carmax Inc. (Symbol: KMX) and Bath & Body Works Inc (Symbol: BBWI) are two large stocks that are lagging, showing a loss of 4.3% and 4.2%, respectively. Among the largest ETFs, one ETF closely following services stocks is the iShares U.S. Consumer Services ETF (Symbol: IYC), which is down 1.5% on the day, and down 5.48% year-to-date. Carmax Inc., meanwhile, is down 13.70% year-to-date, and Bath & Body Works Inc, is down 21.31% year-to-date. Combined, KMX and BBWI make up approximately 0.6% of the underlying holdings of IYC.

The next worst performing sector is the Financial sector, showing a 1.3% loss. Among large Financial stocks, JPMorgan Chase & Co (Symbol: JPM) and Simon Property Group, Inc. (Symbol: SPG) are the most notable, showing a loss of 6.1% and 5.8%, respectively. One ETF closely tracking Financial stocks is the Financial Select Sector SPDR ETF (XLF), which is down 1.7% in midday trading, and up 3.87% on a year-to-date basis. JPMorgan Chase & Co, meanwhile, is up 0.36% year-to-date, and Simon Property Group, Inc., is down 3.86% year-to-date. JPM makes up approximately 10.4% 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 Friday. As you can see, one sector is up on the day, while eight sectors are down.

Sector % Change
Energy +1.5%
Technology & Communications -0.5%
Consumer Products -0.8%
Utilities -0.8%
Healthcare -1.1%
Materials -1.2%
Services -1.3%
Financial -1.3%
Industrial -1.3%

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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.

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