The Energy and Materials sectors are the worst performing sectors as of midday Friday, down 1.2% and 1.0% respectively, with the Energy Select Sector SPDR ETF (XLE) down 1.3% on the day and 4.40% year-to-date. Halliburton (HAL) and Devon Energy (DVN), key components of XLE, are lagging with losses of 2.6% and 2.3% respectively, while within the Materials sector, Eastman Chemical (EMN) and Albemarle (ALB) are notable underperformers, showing losses of 4.0% and 3.7%.
The Energy sector registered a 1.2% loss by midday Friday, positioning it as the worst-performing sector. This downturn is mirrored in the Energy Select Sector SPDR ETF (XLE), which fell 1.3% on the day and is down 4.40% year-to-date. Specific large-cap stocks within this group, Halliburton Company (HAL) and Devon Energy Corp. (DVN), are significant laggards, showing losses of 2.6% and 2.3% respectively. Year-to-date, HAL's performance is particularly weak, down 27.42%, while DVN has declined 6.42%; these two companies represent approximately 2.8% of XLE's underlying holdings. The Materials sector followed as the next worst performer, declining by 1.0%. Notable underperformers in this sector include Eastman Chemical Co (EMN), which lost 4.0%, and Albemarle Corp. (ALB), down 3.7%. Their year-to-date figures show EMN down 13.46% and ALB down a substantial 35.21%. The Materials Select Sector SPDR ETF (XLB) experienced a 0.7% midday loss, though it maintains a 2.39% gain year-to-date; EMN and ALB combined account for about 2.1% of XLB's holdings. The broader market context shows only two S&P 500 sectors, Utilities (+0.4%) and Consumer Products (+0.1%), in positive territory, while six sectors are down, indicating a generally negative market sentiment impacting commodity-related industries most severely.
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moderately negative
Sentiment Score
-0.50
Ticker Sentiment
