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Wednesday Sector Laggards: Energy, Financial

The worst performing sector as of midday Wednesday is the Energy sector, showing a 2.8% loss. Within the sector, Occidental Petroleum Corp (Symbol: OXY) and Apache Corp (Symbol: APA) 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 2.3% on the day, and down 25.66% year-to-date. Occidental Petroleum Corp, meanwhile, is down 45.62% year-to-date, and Apache Corp, is down 38.51% year-to-date. Combined, OXY and APA make up approximately 3.5% of the underlying holdings of XLE.

The next worst performing sector is the Financial sector, showing a 1.8% loss. Among large Financial stocks, Wells Fargo & Co (Symbol: WFC) and Host Hotels & Resorts Inc (Symbol: HST) are the most notable, showing a loss of 5.7% and 5.2%, respectively. One ETF closely tracking Financial stocks is the Financial Select Sector SPDR ETF (XLF), which is down 1.5% in midday trading, and down 15.76% on a year-to-date basis. Wells Fargo & Co , meanwhile, is down 40.91% year-to-date, and Host Hotels & Resorts Inc, is down 25.04% year-to-date. WFC makes up approximately 4.2% 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:

Metals Channel

Here’s a snapshot of how the S&P 500 components within the various sectors are faring in afternoon trading on Wednesday. As you can see, one sector is up on the day, while eight sectors are down.

Sector % Change
Technology & Communications +0.4%
Utilities -0.2%
Healthcare -0.3%
Consumer Products -0.9%
Materials -0.9%
Services -1.2%
Industrial -1.2%
Financial -1.8%
Energy -2.8%

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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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