Monday Sector Laggards: Energy, Materials

monday-sector-laggards:-energy,-materials

Looking at the sectors faring worst as of midday Monday, shares of Energy companies are underperforming other sectors, showing a 0.4% loss. Within the sector, Diamondback Energy, Inc. (Symbol: FANG) and Coterra Energy Inc (Symbol: CTRA) are two large stocks that are lagging, showing a loss of 1.8% and 1.7%, respectively. Among energy ETFs, one ETF following the sector is the Energy Select Sector SPDR ETF (Symbol: XLE), which is down 0.2% on the day, and up 13.08% year-to-date. Diamondback Energy, Inc., meanwhile, is up 28.26% year-to-date, and Coterra Energy Inc, is down 1.65% year-to-date. Combined, FANG and CTRA make up approximately 3.8% of the underlying holdings of XLE.

The next worst performing sector is the Materials sector, up 0.2%. Among large Materials stocks, Freeport-McMoran Copper & Gold (Symbol: FCX) and Albemarle Corp. (Symbol: ALB) are the most notable, showing a loss of 2.7% and 2.6%, respectively. One ETF closely tracking Materials stocks is the Materials Select Sector SPDR ETF (XLB), which is up 0.2% in midday trading, and up 13.69% on a year-to-date basis. Freeport-McMoran Copper & Gold, meanwhile, is up 15.45% year-to-date, and Albemarle Corp., is down 30.37% year-to-date. Combined, FCX and ALB make up approximately 6.7% of the underlying holdings of XLB.

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 Monday. As you can see, eight sectors are up on the day, while one sector is down.

Sector % Change
Utilities +0.9%
Financial +0.7%
Technology & Communications +0.7%
Industrial +0.7%
Consumer Products +0.4%
Services +0.3%
Healthcare +0.3%
Materials +0.2%
Energy -0.4%

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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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