January 28, 2023

Monday Sector Leaders: Energy, Services

Looking at the sectors faring best as of midday Monday, shares of Energy companies are outperforming other sectors, higher by 2.5%. Within the sector, Occidental Petroleum Corp (Symbol: OXY) and Schlumberger Ltd (Symbol: SLB) are two large stocks leading the way, showing a gain of 6.2% and 4.7%, respectively. Among energy ETFs, one ETF following the sector is the Energy Select Sector SPDR ETF (Symbol: XLE), which is up 2.6% on the day, and roughly flat year-to-date. Occidental Petroleum Corp, meanwhile, is roughly flat on a year-to-date basis, and Schlumberger Ltd, is roughly flat on a year-to-date basis. Combined, OXY and SLB make up approximately 7.2% of the underlying holdings of XLE.

The next best performing sector is the Services sector, up 0.3%. Among large Services stocks, Discovery Inc – Series C (Symbol: DISCK) and ViacomCBS Inc (Symbol: VIAC) are the most notable, showing a gain of 7.5% and 7.4%, respectively. One ETF closely tracking Services stocks is the iShares U.S. Consumer Services ETF (IYC), which is up 1.2% in midday trading, and roughly flat year-to-date. Discovery Inc – Series C, meanwhile, is roughly flat on a year-to-date basis, and ViacomCBS Inc, is roughly flat on a year-to-date basis. Combined, DISCK and VIAC make up approximately 0.5% 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 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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