Friday Industry Lags: Technology, Communications, Energy

Shares in the Technology & Communications sector were the worst performers of the afternoon trade on Friday, losing 1.2%. Within the sector, Advanced Micro Devices Inc (Symbol: AMD ) and ON Semiconductor Corp (Symbol: ON ) lagged behind with losses of 4.0% and 3.8%, respectively. in the middle technology ETFs, one ETF that tracks the sector is the Technology Select Sector SPDR ETF (Ticker: XLK ), which is down 1.4% on the day and 22.24% year-to-date. On the other hand, Advanced Micro Devices Inc. decreased by 48.33% and ON Semiconductor Corp. by 4.79% year-to-date. AMD and ON comprise approximately 1.7% of XLK’s principal holdings.

The next worst performing sector was Energy with a loss of 0.8%. Among the major energy stocks, EQT Corp. (Symbol: EQT ) and Valero Energy Corp. (Symbol: VLO ) were the most noteworthy, with losses of 3.8% and 3.7%, respectively. One ETF that closely tracks energy stocks is the Energy Select Sector SPDR ETF ( XLE ), which is down 1.0% in intraday trading and is up 66.35% for the year. Meanwhile, EQT Corp. is up 85.60% year-to-date and Valero Energy Corp. is up 74.46%. EQT and VLO make up approximately 4.3% of XLE’s outstanding holdings.

Below is a chart of stock price performance comparing these stocks and ETFs over a twelve-month period, with each ticker marked in a different color at the bottom.

Energy Stock Channel

Here’s a snapshot of how components of the S&P 500 across various sectors fared in Friday afternoon trading. As you can see, on this day one sector is bullish and seven sectors are bearish.

Sector % change
Material +0.4%
Consumer products -0.0%
Health -0.2%
Industrial -0.2%
Service -0.5%
Consumption -0.6%
Financial -0.6%
Energy -0.8%
Technology and Communication -1.2%

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

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