Energy Sector Struggles Amid Broader Market Trends
As midday trading unfolds on Monday, the Energy sector shows a decline of 1.3%, lagging behind other sectors. Notably, Schlumberger Ltd (Symbol: SLB) and APA Corp (Symbol: APA) are significant contributors to this downturn, with losses of 2.1% and 2.0%, respectively. Among energy-focused ETFs, the Energy Select Sector SPDR ETF (Symbol: XLE) is down 1.5% today and 0.88% year-to-date. Year-to-date performance reveals Schlumberger Ltd down 7.93% and APA Corp down 23.21%. Notably, SLB and APA together represent approximately 4.0% of XLE’s underlying holdings.
Consumer Products Sector Follows With Declines
The Consumer Products sector is the next weakest performer, registering a 0.2% drop. Key stocks in this group include Tesla Inc (Symbol: TSLA) and Clorox Co (Symbol: CLX), which are down 2.8% and 1.5% respectively. Tracking Consumer Products stocks, the iShares U.S. Consumer Goods ETF (IYK) is up 0.2% in midday trading and has increased by 8.47% year-to-date. In contrast, Tesla Inc is down 15.76% for the year, while Clorox Co is down 15.85%. CLX accounts for about 0.8% of IYK’s underlying holdings.
Comparative Performance of Stocks and ETFs
To provide a clearer picture of the situation, the following chart illustrates the trailing twelve-month performance of the aforementioned stocks and ETFs. Each symbol is represented in a different color for ease of reference.
S&P 500 Sector Performance Snapshot
A snapshot of how various S&P 500 components are performing in afternoon trading reveals some trends. Currently, four sectors show gains while four others are experiencing declines.
| Sector | % Change |
|---|---|
| Utilities | +0.3% |
| Healthcare | +0.1% |
| Financial | +0.1% |
| Industrial | +0.1% |
| Materials | -0.0% |
| Services | -0.1% |
| Consumer Products | -0.2% |
| Technology & Communications | -0.2% |
| Energy | -1.3% |
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
