In afternoon trading on Friday, Utilities stocks lagged behind other sectors, rising just 0.1%. PG&E Corp (PCG) fell 2.0%, while Consolidated Edison Inc (ED) declined by 0.6%. The Utilities Select Sector SPDR ETF (XLU) was up 0.2% on the day and has risen 7.75% year-to-date. However, PG&E is down 22.37% year-to-date, while Consolidated Edison is up 15.82%. Combined, these two companies account for approximately 5.7% of XLU’s holdings.
The Services sector also struggled, increasing only 0.2%. Notable declines included Lululemon athletica Inc (LULU) at -19.6% and Dollar Tree Inc (DLTR) at -2.5%. The iShares U.S. Consumer Services ETF (IYC) rose 1.0% in midday trading and up 1.09% year-to-date. Lululemon is down 30.45% year-to-date, whereas Dollar Tree has increased by 25.75%. Together, LULU and DLTR represent about 0.9% of IYC’s holdings.
Among the sectors, Energy led with a 1.7% gain, followed by Technology and Communications at 1.2%, while Utilities and Services rounded out the bottom.
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