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The worst performing sector as of midday Friday is the Technology & Communications sector, showing a 0.6% loss. Within the sector, Micron Technology Inc. (Symbol: MU) and Western Digital Corp (Symbol: WDC) are two large stocks that are lagging, showing a loss of 6.5% and 6.4%, respectively. Among technology ETFs , one ETF following the sector is the Technology Select Sector SPDR ETF (Symbol: XLK), which is down 0.3% on the day, and up 3.25% year-to-date. Micron Technology Inc., meanwhile, is up 34.05% year-to-date, and Western Digital Corp is up 18.65% year-to-date. Combined, MU and WDC make up approximately 1.4% of the underlying holdings of XLK.
The next worst performing sector is the Financial sector, showing a 0.5% loss. Among large Financial stocks, Equinix Inc (Symbol: EQIX) and Bank of America Corp. (Symbol: BAC) are the most notable, showing a loss of 2.3% and 2.2%, respectively. One ETF closely tracking Financial stocks is the Financial Select Sector SPDR ETF ( XLF ), which is down 0.7% in midday trading, and down 1.20% on a year-to-date basis. Equinix Inc, meanwhile, is down 9.44% year-to-date, and Bank of America Corp. is up 1.61% year-to-date. BAC makes up approximately 8.4% 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, four sectors are up on the day, while five sectors are down.
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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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
