Tuesday Sector Laggards: Technology & Communications, Industrial

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In afternoon trading on Tuesday, Technology & Communications stocks are the worst performing sector, showing a 1.8% loss. Within that group, Advanced Micro Devices Inc (Symbol: AMD) and Uber Technologies Inc (Symbol: UBER) are two large stocks that are lagging, showing a loss of 6.2% and 5.5%, respectively. Among technology ETFs, one ETF following the sector is the Technology Select Sector SPDR ETF (Symbol: XLK), which is down 2.8% on the day, and roughly flat year-to-date. Advanced Micro Devices Inc, meanwhile, is roughly flat on a year-to-date basis, and Uber Technologies Inc, is roughly flat on a year-to-date basis. AMD makes up approximately 2.5% of the underlying holdings of XLK.

The next worst performing sector is the Industrial sector, showing a 1.0% loss. Among large Industrial stocks, Norwegian Cruise Line Holdings Ltd (Symbol: NCLH) and Lam Research Corp (Symbol: LRCX) are the most notable, showing a loss of 7.2% and 3.8%, respectively. One ETF closely tracking Industrial stocks is the Industrial Select Sector SPDR ETF (XLI), which is down 0.9% in midday trading, and roughly flat year-to-date. Norwegian Cruise Line Holdings Ltd, meanwhile, is roughly flat on a year-to-date basis, and Lam Research Corp, is roughly flat on a year-to-date basis.

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

Sector
% Change Utilities
+1.5%
Healthcare
+1.3%
Energy
+1.2%
Consumer Products
+0.9%
Financial
+0.8%
Materials
+0.2%
Services
-0.1%
Industrial
-1.0%
Technology & Communications
-1.8%

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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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