Streetbeat News

XLB

Materials Select Sector SPDR Fund

https://www.ssga.com/us/en/intermediary/etfs/funds/the-materials-select-sector-spdr-fund-xlb

Industry

Asset Management

In seeking to track the performance of the index, the fund employs a replication strategy. It generally invests substantially all, but at least 95%, of its total assets in the securities comprising the index. The index includes securities of companies from the following industries: chemicals; metals and mining; paper and forest products; containers and packaging; and construction materials. The fund is non-diversified.

Open

91.88

Mkt cap

6.6B

Volume

3.2M

High

92.07

P/E Ratio

17.58

52-wk high

97.87

Low

91.13

Div yield

0.02

52-wk low

79.72

Consumer sentiment in the US has reached a four-month high, driven by easing inflation expectations. This has positively impacted stock markets, with major ETFs like SPY, QQQ, IWM, DIA, and XLB showing gains. The US dollar weakened, affecting the UUP ETF.

Portfolio Pulse from Piero Cingari

September 13, 2024 | 4:00 pm

Linde plc (NASDAQ:LIN) is investing over $2 billion in a clean hydrogen facility in Alberta, Canada, and has signed a long-term supply agreement with Dow Inc. (NYSE:DOW). The facility will be the largest in Canada and one of the largest globally, supporting Dow's net-zero emissions project. Linde's shares rose 0.60% following the announcement.

Portfolio Pulse from Lekha Gupta

August 27, 2024 | 3:32 pm

US stocks fell on Thursday as traders awaited Fed Chair Powell's speech at the Jackson Hole Symposium. The dollar and Treasury yields rose, impacting bonds and gold negatively. The energy sector outperformed due to rising oil prices, while tech lagged. Notable stock movements included Snowflake's 12% drop and Zoom's 13% rise.

Portfolio Pulse from Piero Cingari

August 22, 2024 | 5:20 pm

The Federal Open Market Committee (FOMC) minutes from July have increased expectations for a rate cut in September, leading to a decline in the U.S. dollar and a rise in gold miners and Bitcoin. The Invesco DB USD Index Bullish Fund ETF (UUP) fell, while the SPDR S&P 500 ETF Trust (SPY), Invesco QQQ Trust (QQQ), Materials Select Sector SPDR Fund (XLB), SPDR S&P Metals & Mining ETF (XME), and VanEck Gold Miners ETF (GDX) saw gains.

Portfolio Pulse from Piero Cingari

August 21, 2024 | 7:55 pm

Stocks trimmed gains on Wednesday due to a downward revision in nonfarm payrolls, indicating a weaker labor market. Target surged on strong earnings, while Macy's fell after lowering revenue guidance. Investors are anticipating the Fed's July meeting minutes.

Portfolio Pulse from Piero Cingari

August 21, 2024 | 5:47 pm

The U.S. labor market's job gains were revised down by 818,000, affecting market expectations for Fed rate cuts. This led to a fall in the U.S. dollar and mixed reactions in ETFs, with utilities and gold miners rallying, while financials and oil declined.

Portfolio Pulse from Piero Cingari

August 21, 2024 | 3:58 pm

Sherwin-Williams (NYSE: SHW) reported strong Q2 FY24 results with adjusted EPS of $3.70, beating expectations, and a slight revenue increase to $6.27 billion, though missing analyst estimates. The company raised its 2024 EPS guidance and expects low-single-digit sales growth. SHW shares rose 4.20% following the news.

Portfolio Pulse from Lekha Gupta

July 23, 2024 | 2:00 pm

Air Products and Chemicals, Inc. (NYSE: APD) shares are surging due to Aramco's agreement to acquire a 50% stake in its Blue Hydrogen Industrial Gases Company (BHIG). This partnership aims to expand the hydrogen economy in the Middle East. Investors can also gain exposure to APD via IShares U.S. Basic Materials ETF (NYSE: IYM) and Materials Select Sector SPDR (NYSE: XLB).

Portfolio Pulse from Lekha Gupta

July 16, 2024 | 5:16 pm

The Nasdaq 100 and S&P 500 closed at record highs, driven by gains in tech stocks. The Nasdaq 100 rose 0.6% to 19,576 points, while the S&P 500 increased 0.2% to 5,433 points. Treasury Secretary Janet Yellen's optimistic comments on disinflation and a strong job market boosted investor confidence. The market is pricing in a high probability of rate cuts by the end of the year. Technology and real estate sectors led the gains, while energy and communication services lagged.

Portfolio Pulse from Piero Cingari

June 13, 2024 | 8:35 pm

A cooler-than-expected U.S. inflation report has led to a rally in small caps, real estate, and regional banks, with traders anticipating potential Fed rate cuts. The iShares Russell 2000 ETF (IWM) saw a significant rise, along with sector-specific ETFs like VNQ, XLB, XHB, TAN, KRE, and XBI. Top-performing stocks included Sunrun Inc. (RUN), Array Technologies Inc. (ARRY), and Opendoor Technologies Inc. (OPEN).

Portfolio Pulse from Piero Cingari

June 12, 2024 | 2:09 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.