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Friday Sector Laggards: Technology & Communications, Services

The worst performing sector as of midday Friday is the Technology & Communications sector, showing a 1.6% loss. Within that group, Applied Materials, Inc. (Symbol: AMAT) and Adobe Inc (Symbol: ADBE) are two large stocks that are lagging, showing a loss of 8.7% and 4.9%, respectively. Among technology ETFs, one ETF following the sector is the Technology Select Sector SPDR ETF (Symbol: XLK), which is down 2.5% on the day, and up 19.39% year-to-date. Applied Materials, Inc., meanwhile, is up 5.52% year-to-date, and Adobe Inc, is down 15.56% year-to-date. Combined, AMAT and ADBE make up approximately 3.9% of the underlying holdings of XLK.

The next worst performing sector is the Services sector, showing a 1.4% loss. Among large Services stocks, Omnicom Group, Inc. (Symbol: OMC) and Warner Bros Discovery Inc (Symbol: WBD) are the most notable, showing a loss of 7.4% and 7.3%, respectively. One ETF closely tracking Services stocks is the iShares U.S. Consumer Services ETF (IYC), which is down 1.1% in midday trading, and up 23.70% on a year-to-date basis. Omnicom Group, Inc., meanwhile, is up 14.81% year-to-date, and Warner Bros Discovery Inc, is down 19.73% year-to-date. Combined, OMC and WBD make up approximately 0.7% 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:

Stock Message Boards

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, two sectors are up on the day, while seven sectors are down.

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Sector% Change
Utilities+1.0%
Financial+0.1%
Materials-0.4%
Energy-0.4%
Consumer Products-0.7%
Industrial-1.0%
Healthcare-1.2%
Services-1.4%
Technology & Communications-1.6%

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Also see:

• Institutional Holders of GGAC
• VVI YTD Return
• Funds Holding XPON

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