News

We provide the latest news
from the world of economics and finance

28 April
Monday Sector Laggards: Technology & Communications, Consumer Products

In afternoon trading on Monday, Technology & Communications stocks are the worst performing sector, showing a 0.7% loss. Within that group, NVIDIA Corp (Symbol: NVDA) and Micron Technology Inc. (Symbol: MU) are two large stocks that are lagging, showing a loss of 3.6% and 2.9%, respectively. Among technology ETFs, one ETF following the sector is the Technology Select Sector SPDR ETF (Symbol: XLK), which is down 0.9% on the day, and down 11.03% year-to-date. NVIDIA Corp, meanwhile, is down 20.34% year-to-date, and Micron Technology Inc., is down 7.78% year-to-date. Combined, NVDA and MU make up approximately 13.4% of the underlying holdings of XLK.

The next worst performing sector is the Consumer Products sector, showing a 0.6% loss. Among large Consumer Products stocks, Colgate-Palmolive Co. (Symbol: CL) and Kraft Heinz Co (Symbol: KHC) are the most notable, showing a loss of 3.0% and 2.6%, respectively. One ETF closely tracking Consumer Products stocks is the iShares U.S. Consumer Goods ETF (IYK), which is down 0.5% in midday trading, and up 6.86% on a year-to-date basis. Colgate-Palmolive Co., meanwhile, is up 1.35% year-to-date, and Kraft Heinz Co, is down 5.13% year-to-date. Combined, CL and KHC make up approximately 4.7% of the underlying holdings of IYK.

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 Monday. As you can see, two sectors are up on the day, while six sectors are down.

Also see:

ADM market cap history
Institutional Holders of CYRX
Institutional Holders of LVTX

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

х
Risk warning: Trading on financial markets carries risks. The value of the investments can both increase and decrease and the investors may lose all their investment capital. In case of a leveraged product, the loss may be more than the initial capital invested. Detailed information on risks associated with trading on financial markets can be found in General Terms and Conditions for the Provision of Investment Services.