Thursday Sector Laggards: Materials, Utilities

The worst performing sector as of midday Thursday is the Materials sector, showing a 0.4% loss. Within that group, Nucor Corp. (Symbol: NUE) and Newmont Corp (Symbol: NEM) are two of the day’s laggards, showing a loss of 4.6% and 3.0%, respectively. Among the high volume ETFs, one ETF closely following materials stocks is the Materials Select Sector SPDR ETF (Symbol: XLB), which is down 1.1% on the day, and down 1.17% year-to-date. Nucor Corp., meanwhile, is up 2.53% year-to-date, and Newmont Corp, is down 5.63% year-to-date. Combined, NUE and NEM make up approximately 8.0% of the underlying holdings of XLB.

The next worst performing sector is the Utilities sector, showing a 0.3% loss. Among large Utilities stocks, NextEra Energy Inc (Symbol: NEE) and Entergy Corp (Symbol: ETR) are the most notable, showing a loss of 3.5% and 1.4%, respectively. One ETF closely tracking Utilities stocks is the Utilities Select Sector SPDR ETF (XLU), which is down 0.7% in midday trading, and down 2.04% on a year-to-date basis. NextEra Energy Inc, meanwhile, is down 7.25% year-to-date, and Entergy Corp, is down 2.38% year-to-date. Combined, NEE and ETR make up approximately 19.6% 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, six sectors are up on the day, while three sectors are down.

Sector % Change
Energy +2.2%
Financial +0.9%
Services +0.7%
Consumer Products +0.5%
Industrial +0.4%
Technology & Communications +0.3%
Healthcare -0.2%
Utilities -0.3%
Materials -0.4%

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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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