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Tuesday Sector Laggards: Technology & Communications, Services

In afternoon trading on Tuesday, Technology & Communications stocks are the worst performing sector, higher by 2.1%. Within that group, T-Mobile US Inc (Symbol: TMUS) and NVIDIA Corp (Symbol: NVDA) are two large stocks that are lagging, showing a loss of 1.6% and 1.6%, respectively. Among technology ETFs, one ETF following the sector is the Technology Select Sector SPDR ETF (Symbol: XLK), which is up 2.3% on the day, and up 12.43% year-to-date. T-Mobile US Inc, meanwhile, is up 31.42% year-to-date, and NVIDIA Corp is up 53.60% year-to-date. NVDA makes up approximately 3.3% of the underlying holdings of XLK.

The next worst performing sector is the Services sector, up 2.2%. Among large Services stocks, Discovery Inc (Symbol: DISCA) and ViacomCBS Inc (Symbol: VIAC) are the most notable, showing a loss of 2.4% and 2.2%, respectively. One ETF closely tracking Services stocks is the iShares U.S. Consumer Services ETF (IYC), which is up 2.2% in midday trading, and down 1.70% on a year-to-date basis. Discovery Inc, meanwhile, is down 32.18% year-to-date, and ViacomCBS Inc, is down 40.84% year-to-date. Combined, DISCA and VIAC make up approximately 0.6% of the underlying holdings of IYC.

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:

Metals Channel

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, nine sectors are up on the day, while none of the sectors are down.

Sector % Change
Energy +3.3%
Materials +3.2%
Consumer Products +2.7%
Industrial +2.7%
Healthcare +2.6%
Financial +2.5%
Services +2.2%
Utilities +2.2%
Technology & Communications +2.1%

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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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