Latecomers in the Wednesday sector: materials, consumer products

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In Wednesday afternoon of trading, materials stocks were the worst performing sector, posting a loss of 0.8%. Within this group, Eastman Chemical Co (symbol: EMN) and Nucor Corp. (ticker: NUE) are two large lagging stocks, posting a loss of 3.0% and 2.6%, respectively. From High volume ETFs, the Materials Select Sector SPDR ETF (ticker: XLB), which closely tracks materials stocks, is down 0.8% on the day and up 22.71% year-to-date . Eastman Chemical Co, meanwhile, is up 14.92% year-to-date, and Nucor Corp. is up 120.88% year-to-date. Together, EMN and NUE represent approximately 5.0% of the underlying holdings of XLB.

The second worst performing sector is the consumer products sector, posting a loss of 0.7%. Among the major consumer stocks, Tapestry Inc (ticker: TPR) and Constellation Brands Inc (ticker: STZ) were the most notable, posting losses of 4.1% and 2.3%, respectively. The iShares US Consumer Goods (IYK) ETF, which closely tracks consumer products stocks, is down 0.8% at midday and up 9.19% year-to-date . Tapestry Inc, meanwhile, is up 42.76% year-to-date, and Constellation Brands Inc is up 7.10% year-to-date. STZ represents approximately 2.0% of IYK’s underlying holdings.

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

Here is a look at how the components of the S&P 500 have evolved across sectors on Wednesday afternoon. As you can see, two sectors are up on this day while five sectors are down.

Sector % Switch
Energy + 0.9%
Financial + 0.1%
Utilities 0.0%
Technology and communication -0.0%
Industrial -0.2%
Health care -0.4%
Services -0.6%
Consumer products -0.7%
Materials -0.8%

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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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