Friday Sector Laggards: Technology & Communications, Healthcare

Cristopher Centers

In afternoon trading on Friday, Technology & Communications stocks are the worst performing sector, showing a 1.9% loss. Within that group, NVIDIA Corp (Symbol: NVDA) and Salesforce.com Inc (Symbol: CRM) are two large stocks that are lagging, showing a loss of 6.0% and 5.3%, respectively. Among technology ETFs, one ETF […]

In afternoon trading on Friday, Technology & Communications stocks are the worst performing sector, showing a 1.9% loss. Within that group, NVIDIA Corp (Symbol: NVDA) and Salesforce.com Inc (Symbol: CRM) are two large stocks that are lagging, showing a loss of 6.0% and 5.3%, respectively. Among technology ETFs, one ETF following the sector is the Technology Select Sector SPDR ETF (Symbol: XLK), which is down 2.7% on the day, and up 27.90% year-to-date. NVIDIA Corp, meanwhile, is up 108.21% year-to-date, and Salesforce.com Inc is up 54.38% year-to-date. Combined, NVDA and CRM make up approximately 6.7% of the underlying holdings of XLK.

The next worst performing sector is the Healthcare sector, showing a 1.1% loss. Among large Healthcare stocks, DexCom Inc (Symbol: DXCM) and ABIOMED, Inc. (Symbol: ABMD) are the most notable, showing a loss of 5.0% and 4.6%, respectively. One ETF closely tracking Healthcare stocks is the Health Care Select Sector SPDR ETF (XLV), which is down 1.1% in midday trading, and up 4.13% on a year-to-date basis. DexCom Inc, meanwhile, is up 79.35% year-to-date, and ABIOMED, Inc. is up 64.41% year-to-date. Combined, DXCM and ABMD make up approximately 1.3% of the underlying holdings of XLV.

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:

Portfolio Channel

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

Sector % Change
Financial +0.5%
Materials +0.1%
Consumer Products -0.1%
Industrial -0.3%
Utilities -0.6%
Energy -0.6%
Services -0.9%
Healthcare -1.1%
Technology & Communications -1.9%

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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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