February 4, 2023

Monday Sector Laggards: Healthcare, Utilities

The worst performing sector as of midday Monday is the Healthcare sector, showing a 1.1% loss. Within that group, Moderna Inc (Symbol: MRNA) and Quest Diagnostics, Inc. (Symbol: DGX) are two large stocks that are lagging, showing a loss of 8.0% and 4.9%, respectively. Among healthcare ETFs, one ETF following the sector is the Health Care Select Sector SPDR ETF (Symbol: XLV), which is down 1.4% on the day, and roughly flat year-to-date. Moderna Inc, meanwhile, is roughly flat on a year-to-date basis, and Quest Diagnostics, Inc., is roughly flat on a year-to-date basis. Combined, MRNA and DGX make up approximately 1.9% of the underlying holdings of XLV.

The next worst performing sector is the Utilities sector, showing a 1.0% loss. Among large Utilities stocks, American Water Works Co, Inc. (Symbol: AWK) and Exelon Corp (Symbol: EXC) are the most notable, showing a loss of 2.9% and 2.6%, respectively. One ETF closely tracking Utilities stocks is the Utilities Select Sector SPDR ETF (XLU), which is down 1.3% in midday trading, and roughly flat year-to-date. American Water Works Co, Inc., meanwhile, is roughly flat on a year-to-date basis, and Exelon Corp, is roughly flat on a year-to-date basis. Combined, AWK and EXC make up approximately 8.8% of the underlying holdings of XLU.

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

Sector % Change
Energy +2.5%
Services +0.3%
Financial +0.3%
Consumer Products +0.1%
Technology & Communications +0.1%
Industrial -0.5%
Materials -0.7%
Utilities -1.0%
Healthcare -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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