Energy Sector Struggles
In the tumultuous waters of midweek trading, the energy sector finds itself adrift, battered by a 1.9% loss. Valero Energy Corp (VLO) and Devon Energy Corp. (DVN) stand out as the leading laggards, with declines of 5.1% and 4.6% respectively. Among energy ETFs, the Energy Select Sector SPDR ETF (XLE) mirrors this decline with a 2.1% slump on the day, though it manages to hold onto an 8.66% gain for the year. Valero Energy Corp saw a robust 20.22% surge year-to-date, contrasting with Devon Energy Corp’s more modest 3.94% uptick. Together, VLO and DVN command a 5.3% share of XLE’s holdings.
Industrial Sector Woes
Not faring much better, the industrial sector struggles with a 1.3% loss to its name. American Airlines Group Inc (AAL) and Southwest Airlines Co (LUV) take center stage in this troubled sector, sporting downturns of 14.6% and 4.4% respectively. Tracking industrial stocks, the Industrial Select Sector SPDR ETF (XLI) registers a 1.1% dip in midday trading, despite holding onto a respectable 7.03% year-to-date increase. American Airlines Group Inc showcases a significant 16.48% slide year-to-date, with Southwest Airlines Co not faring much better at an 11.62% decrease. AAL and LUV jointly represent 0.6% of XLI’s underlying holdings.
Market Snapshot
Diving deeper into the market terrain, a snapshot of the S&P 500 components across various sectors in Wednesday’s afternoon trading paints a bleak picture. Not a single sector experiences growth, with nine sectors facing downward trends.
| Sector | % Change |
|---|---|
| Healthcare | -0.7% |
| Technology & Communications | -0.7% |
| Consumer Products | -0.8% |
| Services | -0.8% |
| Financial | -1.1% |
| Utilities | -1.2% |
| Industrial | -1.3% |
| Materials | -1.3% |
| Energy | -1.9% |
10 ETFs With Stocks That Insiders Are Buying »
