Friday Sector Laggards: Utilities, Services

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Looking at the sectors faring worst as of midday Friday, shares of Utilities companies are underperforming other sectors, showing a 1.1% loss. Within that group, American Water Works Co, Inc. (Symbol: AWK) and Pinnacle West Capital Corp (Symbol: PNW) are two large stocks that are lagging, showing a loss of 2.6% and 2.4%, respectively. Among utilities ETFs, one ETF following the sector is the Utilities Select Sector SPDR ETF (Symbol: XLU), which is down 0.8% on the day, and up 4.60% year-to-date. American Water Works Co, Inc., meanwhile, is down 17.52% year-to-date, and Pinnacle West Capital Corp is up 9.51% year-to-date. Combined, AWK and PNW make up approximately 3.5% of the underlying holdings of XLU.

The next worst performing sector is the Services sector, showing a 1.0% loss. Among large Services stocks, Warner Bros Discovery Inc (Symbol: WBD) and Paramount Global (Symbol: PARA) are the most notable, showing a loss of 16.2% and 5.2%, respectively. One ETF closely tracking Services stocks is the iShares U.S. Consumer Services ETF (IYC), which is down 1.0% in midday trading, and down 20.77% on a year-to-date basis. Warner Bros Discovery Inc, meanwhile, is down 37.77% year-to-date, and Paramount Global, is down 18.95% year-to-date. Combined, WBD and PARA make up approximately 1.0% 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:

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, three sectors are up on the day, while five sectors are down.

Sector % Change
Energy +2.8%
Financial +0.2%
Materials +0.1%
Industrial 0.0%
Healthcare -0.1%
Consumer Products -0.4%
Technology & Communications -0.5%
Services -1.0%
Utilities -1.1%

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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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