Market Update: Materials and Services Sectors Struggle Amid Broader Gains

In afternoon trading on Wednesday, the Materials sector is facing challenges, showing a 0.8% loss. FMC Corp. (Symbol: FMC) and Bunge Global SA (Symbol: BG) are notable underperformers, with declines of 31.8% and 5.5%, respectively. The Materials Select Sector SPDR ETF (Symbol: XLB), which tracks materials stocks, has increased 0.2% today and is up 6.19% year-to-date. In contrast, FMC Corp. has dropped 22.99% year-to-date, while Bunge Global SA has decreased by 8.87% in the same period. FMC makes up about 0.4% of XLB’s holdings.

Services Sector Also Under Pressure

The Services sector records a 0.4% loss, with Match Group Inc (Symbol: MTCH) and Alphabet Inc (Symbol: GOOGL) at the forefront, both down by 7.4%. The iShares U.S. Consumer Services ETF (IYC), which tracks this sector, has declined 0.5% in midday trading but is still up 4.70% year-to-date. On a positive note, Match Group Inc has risen 3.85% year-to-date, while Alphabet Inc has seen a smaller increase of 0.97% during the same timeframe.

Stock Performance Overview

Comparing these stocks and ETFs over the trailing twelve months, the chart below illustrates relative stock price performance, with each symbol depicted in a distinct color as labeled in the legend at the bottom:

S&P 500 Sector Performance Snapshot

Here’s a look at how the S&P 500 sectors are performing in afternoon trading on Wednesday. Currently, seven sectors are advancing while two are declining.

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Also see:

• AMRX Stock Predictions
• Funds Holding DSOC
• Funds Holding TGL

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.