As of midday Thursday, Technology & Communications stocks are underperforming with a 1.5% loss. Notable laggards include Monolithic Power Systems Inc (MPWR), down 19.1%, and Uber Technologies Inc (UBER), down 11.5%. The Technology Select Sector SPDR ETF (XLK) is down 3.1% for the day but remains up 16.19% year-to-date. MPWR has seen an 18.64% year-to-date increase, while UBER is up 14.13% in the same timeframe.
The Healthcare sector follows closely with a 0.9% loss. Key performers include Teleflex Incorporated (TFX), which has dropped 14.5%, and Regeneron Pharmaceuticals, Inc. (REGN), down 11.3%. The Health Care Select Sector SPDR ETF (XLV) is down 0.4% today but up 9.42% year-to-date. Year-to-date, TFX is down 18.93%, and REGN has decreased by 6.80%.
Overall, the market is seeing two sectors in the positive, while seven sectors are facing declines. Key highlights include Utilities, up 1.8%, and Energy, up 0.4%.
