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Tuesday Sector Laggards: Energy, Services

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In afternoon trading on Tuesday, Energy stocks are the worst performing sector, showing a 1.8% loss. Within that group, Marathon Petroleum Corp. (Symbol: MPC) and Phillips 66 (Symbol: PSX) are two large stocks that are lagging, showing a loss of 7.4% and 4.5%, respectively. Among energy ETFs, one ETF following the sector is the Energy Select Sector SPDR ETF (Symbol: XLE), which is down 1.9% on the day, and up 13.67% year-to-date. Marathon Petroleum Corp., meanwhile, is up 25.73% year-to-date, and Phillips 66 is up 9.45% year-to-date. Combined, MPC and PSX make up approximately 8.0% of the underlying holdings of XLE.

The next worst performing sector is the Services sector, showing a 1.4% loss. Among large Services stocks, Warner Bros Discovery Inc (Symbol: WBD) and Paramount Global (Symbol: PARA) are the most notable, showing a loss of 9.0% and 4.5%, respectively. One ETF closely tracking Services stocks is the iShares U.S. Consumer Services ETF (IYC), which is down 1.4% in midday trading, and up 3.47% on a year-to-date basis. Warner Bros Discovery Inc, meanwhile, is down 34.80% year-to-date, and Paramount Global, is down 20.59% year-to-date. Combined, WBD and PARA make up approximately 0.4% 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:

Chart Zero

Here’s a snapshot of how the S&P 500 components within the various sectors are faring in afternoon trading on Tuesday. As you can see, one sector is up on the day, while eight sectors are down.

Sector % Change
Utilities +0.3%
Financial -0.4%
Healthcare -0.5%
Technology & Communications -1.0%
Industrial -1.0%
Consumer Products -1.1%
Services -1.4%
Materials -1.4%
Energy -1.8%

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

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