November 30, 2023

Tuesday Sector Laggards: Healthcare, Technology & Communications

The worst performing sector as of midday Tuesday is the Healthcare sector, showing a 1.5% loss. Within the sector, Charles River Laboratories International Inc. (Symbol: CRL) and PerkinElmer, Inc. (Symbol: PKI) are two large stocks that are lagging, showing a loss of 5.6% and 5.6%, respectively. Among healthcare ETFs, one ETF following the sector is the Health Care Select Sector SPDR ETF (Symbol: XLV), which is down 1.6% on the day, and down 2.58% year-to-date. Charles River Laboratories International Inc., meanwhile, is down 9.25% year-to-date, and PerkinElmer, Inc., is down 9.76% year-to-date. Combined, CRL and PKI make up approximately 0.8% of the underlying holdings of XLV.

The next worst performing sector is the Technology & Communications sector, showing a 1.3% loss. Among large Technology & Communications stocks, ServiceNow Inc (Symbol: NOW) and Enphase Energy Inc. (Symbol: ENPH) are the most notable, showing a loss of 8.1% and 6.2%, respectively. One ETF closely tracking Technology & Communications stocks is the Technology Select Sector SPDR ETF (XLK), which is down 1.7% in midday trading, and down 0.76% on a year-to-date basis. ServiceNow Inc, meanwhile, is down 10.74% year-to-date, and Enphase Energy Inc., is down 5.40% year-to-date. Combined, NOW and ENPH make up approximately 1.3% of the underlying holdings of XLK.

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:

Dividend Channel

Here’s a snapshot of how the S&P 500 components within the various sectors are faring in afternoon trading on Tuesday. As you can see, seven sectors are up on the day, while two sectors are down.

Sector % Change
Energy +3.8%
Financial +2.0%
Consumer Products +1.8%
Materials +1.6%
Industrial +1.3%
Services +0.3%
Utilities +0.3%
Technology & Communications -1.3%
Healthcare -1.5%

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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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