Latecomers in the Monday sector: healthcare, technology and communications

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THELooking at the worst sectors on Monday at noon, shares of healthcare companies underperform other sectors, posting a loss of 1.5%. Within this group, Charles River Laboratories International Inc. (Symbol: CRL) and Bio-Rad Laboratories Inc (Symbol: BIO) are two large lagging stocks, posting a loss of 5.6% and 5.5%, respectively. Among ETF health, the ETF next to the sector is the Health Care Select Sector SPDR ETF (ticker: XLV), which is down 1.4% on the day and up 15.45% year-to-date. Charles River Laboratories International Inc., meanwhile, is up 73.20% year-to-date, and Bio-Rad Laboratories Inc is up 30.18% year-to-date. Together, CRL and BIO represent approximately 0.8% of the underlying holdings of XLV.

The second worst performing sector is the technology and communications sector, posting a loss of 0.2%. Among the big tech and communications stocks, Fortinet Inc (ticker: FTNT) and Cadence Design Systems Inc (ticker: CDNS) are the most notable, posting losses of 3.5% and 3.5%, respectively. The Technology Select Sector SPDR ETF (XLK), which closely tracks technology and communications stocks, is down 0.9% at midday and up 20.06% year-to-date. ‘year. Fortinet Inc, meanwhile, is up 102.70% year-to-date, and Cadence Design Systems Inc is up 15.71% year-to-date. Together, FTNT and CDNS represent approximately 0.8% of XLK’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 an overview of the evolution of the S&P 500 components in the various sectors Monday afternoon. As you can see, six sectors are up on this day while two sectors are down.

Sector % Switch
Energy + 4.3%
Financial + 1.4%
Materials + 1.4%
Services + 1.0%
Consumer products + 0.7%
Industrial + 0.4%
Utilities 0.0%
Technology and communication -0.2%
Health care -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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