Utilities and Energy sectors are underperforming in afternoon trading, with losses of 0.7% and 0.5% respectively, while seven other sectors are up; Consolidated Edison Inc (ED) and NextEra Energy Inc (NEE) are laggards within utilities, and Diamondback Energy, Inc. (FANG) and APA Corp (APA) are dragging down the energy sector. The Utilities Select Sector SPDR ETF (XLU) is down 0.5% while the Energy Select Sector SPDR ETF (XLE) is down 0.6%.
On Monday afternoon, the Utilities sector registered as the day's worst performer with a 0.7% loss, closely followed by the Energy sector, which declined by 0.5%. Within Utilities, Consolidated Edison Inc (ED) and NextEra Energy Inc (NEE) were significant laggards, falling 2.5% and 1.8% respectively; this contrasts with their strong year-to-date (YTD) gains of 15.48% for ED and 4.01% for NEE. The Utilities Select Sector SPDR ETF (XLU), in which ED and NEE constitute approximately 15.3% of holdings, was down 0.5% on the day but maintained a 7.76% YTD gain. In the Energy sector, Diamondback Energy, Inc. (FANG) and APA Corp (APA) experienced notable losses of 2.9% and 2.6% respectively, contributing to the sector's weakness. These daily declines compound their negative YTD performance, with FANG down 6.92% and APA down 9.20%. The Energy Select Sector SPDR ETF (XLE), holding about 2.6% in FANG and APA combined, dipped 0.6% in midday trading but is up 3.12% YTD. This underperformance in Utilities and Energy occurred while seven other S&P 500 sectors posted gains, led by Technology & Communications (+1.7%), indicating a degree of market divergence on the day. The general market sentiment was mildly negative, reflecting the downturn in these key sectors, with specific tickers like ED, NEE, FANG, and APA showing negative sentiment scores consistent with their price movements.
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mildly negative
Sentiment Score
-0.25
Ticker Sentiment
