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Thursday Sector Laggards: Energy, Materials

The worst performing sector as of midday Thursday is the Energy sector, showing a 2.7% loss. Within that group, Occidental Petroleum Corp (Symbol: OXY) and Hess Corp (Symbol: HES) are two large stocks that are lagging, showing a loss of 6.7% and 6.5%, respectively. Among energy ETFs, one ETF following the sector is the Energy Select Sector SPDR ETF (Symbol: XLE), which is down 4.0% on the day, and down 38.00% year-to-date. Occidental Petroleum Corp, meanwhile, is down 59.50% year-to-date, and Hess Corp, is down 29.26% year-to-date. Combined, OXY and HES make up approximately 4.4% of the underlying holdings of XLE.

The next worst performing sector is the Materials sector, showing a 2.2% loss. Among large Materials stocks, WestRock Co (Symbol: WRK) and Dow Inc (Symbol: DOW) are the most notable, showing a loss of 6.1% and 4.7%, respectively. One ETF closely tracking Materials stocks is the Materials Select Sector SPDR ETF (XLB), which is down 2.1% in midday trading, and down 1.03% on a year-to-date basis. WestRock Co, meanwhile, is down 32.24% year-to-date, and Dow Inc, is down 21.64% year-to-date. Combined, WRK and DOW make up approximately 5.3% of the underlying holdings of XLB.

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:

Dividend Channel

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, one sector is up on the day, while eight sectors are down.

Sector % Change
Technology & Communications +0.4%
Services -0.1%
Utilities -0.5%
Healthcare -0.7%
Consumer Products -0.9%
Industrial -1.0%
Financial -1.7%
Materials -2.2%
Energy -2.7%

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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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