Friday Sector Laggards: Health, Materials

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Jhe worst performing sector at midday on Friday was the healthcare sector, posting a loss of 3.8%. Within this group, HCA Healthcare Inc (Ticker: HCA) and Intuitive Surgical Inc (Ticker: ISRG) are two large lagging stocks, posting a loss of 18.9% and 13.3%, respectively. Among healthcare ETFs, a sector-tracking ETF is the Health Care Select Sector SPDR ETF (ticker: XLV), which is down 3.1% on the day and 4.27% since the start of the month. the year. HCA Healthcare Inc, meanwhile, is down 14.76% year-to-date, and Intuitive Surgical Inc, is down 28.91% year-to-date. Together, HCA and ISRG represent approximately 3.0% of XLV’s underlying holdings.

The second worst performing sector is the materials sector, posting a loss of 2.7%. Among the big materials stocks, Nucor Corp. (ticker: NUE) and Freeport-McMoran Copper & Gold (ticker: FCX) are the most notable, posting a loss of 8.0% and 7.3%, respectively. One ETF closely tracking materials stocks is the Materials Select Sector SPDR ETF (XLB), which is down 3.4% midday and 4.65% year-to-date. Nucor Corp., meanwhile, is up 41.90% year-to-date, and Freeport-McMoran Copper & Gold is up 0.56% year-to-date. Together, NUE and FCX represent approximately 11.6% of XLB’s underlying holdings.

Comparing these stocks and ETFs on a twelve-month basis, below is a graph of relative stock price performance, with each of the symbols displayed in a different color, as shown in the legend at the bottom:

Here’s a look at how the S&P 500 constituents moved across sectors in Friday afternoon trading. As you can see, none of the sectors are up that day, while nine sectors are down.

Sector % Switch
Utilities -0.8%
consumer products -1.4%
Financial -1.7%
Industrial -1.8%
Technology and communication -1.9%
Services -2.2%
Energy -2.3%
Materials -2.7%
Health care -3.8%

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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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