Streetbeat News

XLP

Consumer Staples Select Sector SPDR Fund

https://www.ssga.com/us/en/intermediary/etfs/funds/the-consumer-staples-select-sector-spdr-fund-xlp

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 companies that have been identified as Consumer Staples companies by the GICS®. It is non-diversified.

Open

79.90

Mkt cap

17B

Volume

7.7M

High

80.22

P/E Ratio

27.35

52-wk high

84.53

Low

79.53

Div yield

0.03

52-wk low

69.57

On CNBC's 'Halftime Report Final Trades', Josh Brown of Ritholtz Wealth Management recommended iShares U.S. Oil & Gas Exploration & Production ETF (IEO), Shannon Saccocia of Boston Private recommended Consumer Staples Select Sector SPDR Fund (XLP), Bill Baruch praised Adobe Inc. (ADBE) for its better-than-expected Q3 earnings, and Joseph Terranova of Virtus Investment Partners highlighted Phillips 66 (PSX) for its low earnings multiple and better-than-expected Q2 results.

Portfolio Pulse from Priya Nigam

September 26, 2023 | 12:20 pm

Morgan Stanley's equity strategist, Michael Wilson, has a cautious outlook for the U.S. stock market, advocating for a defensive stance. He highlights the resurgence of defensive sectors and weakening momentum in discretionary spending. Wilson recommends underweight positions in Consumer Discretionary and Tech sectors due to multiple pressures. Despite his bearish stance being inaccurate so far, the bank maintains a pessimistic one-year price projection for the S&P 500 Index.

Portfolio Pulse from Piero Cingari

September 25, 2023 | 3:24 pm

Trading in the index future suggests a lackluster session for stocks on Wednesday. The futures market has priced in a 93% probability of a pause at the Federal Open Market Committee meeting, given growing evidence of a slowdown. The SPDR S&P 500 ETF Trust (NYSE:SPY) moved down 0.14% to $448.59 and the Invesco QQQ ETF (NASDAQ:QQQ) fell 0.25% to $377.14 in premarket trading. Stocks in focus include AeroVironment, Inc. (NASDAQ:AVAV), GitLab, Inc. (NASDAQ:GTLB), and Zscaler, Inc. (NASDAQ:ZS) due to their earnings reports.

Portfolio Pulse from Shanthi Rexaline

September 06, 2023 | 11:12 am

U.S. stocks are expected to open higher on Friday, with optimism surrounding a potentially favorable non-farm payrolls report. Tech earnings released after Thursday’s close elicited mixed reactions. Energy stocks may see some strength as oil prices continue to rise. The SPDR S&P 500 ETF Trust (NYSE:SPY) rose 0.34% to $451.89 and the Invesco QQQ ETF (NASDAQ:QQQ) gained 0.16% to $378.59 in premarket trading. Stocks in focus include Nutanix, Inc. (NASDAQ:NTNX), Broadcom, Inc. (NASDAQ:AVGO), Dell Technologies, Inc. (NYSE:DELL), MongoDB, Inc. (NASDAQ:MDB), Oxford Industries, Inc. (NYSE:OXM), PagerDuty, Inc. (NYSE:PD), and SentinelOne, Inc. (NYSE:S).

Portfolio Pulse from Shanthi Rexaline

September 01, 2023 | 11:25 am

Bank of America has upgraded the Consumer Discretionary sector from Underweight to Overweight and downgraded Consumer Staples from Marketweight to Underweight. This is based on a favorable economic outlook for the U.S., including a projected increase in consumption growth and GDP growth. The bank's analysis also reveals that the end of Federal Reserve rate hikes often coincides with a recovery period for the Consumer Discretionary sector. However, the sector currently trades at a premium to historical valuation measures, influenced by heavyweights Amazon Inc. and Tesla Inc.

Portfolio Pulse from Piero Cingari

August 14, 2023 | 4:31 pm

The U.S. retail sales figures for July are expected to show a 0.4% increase, marking the fourth consecutive month of positive growth. This is expected to alleviate concerns of a recession, thanks to a robust labor market and receding inflation. The impact on sector ETFs will depend on the actual sales figures. Higher-than-expected sales may positively influence cyclical sectors like XLE, XLF, and XLY, while lower-than-expected sales may benefit defensive sectors like XLU, XLV, and XLP. Tech-related sectors like XLK and XLC could see mixed impacts.

Portfolio Pulse from Piero Cingari

August 14, 2023 | 3:31 pm

Positive earnings news from Amazon and other mid-cap tech stocks could help the market recover from recent declines, despite Apple's lackluster earnings. The market's rebound largely depends on the non-farm payrolls report for July. Lingering worries over Fitch’s downgrade of the U.S. credit rating, key earnings reports, and a spike in bond yields have kept sentiment subdued. Amazon's stock climbed nearly 9% in premarket trading, while Apple's fell over 1.50%. Other notable movers include Atlassian Corporation, DraftKings, Booking Holdings, Cloudflare, and Fortinet.

Portfolio Pulse from Shanthi Rexaline

August 04, 2023 | 3:07 pm

US stock futures fell on Wednesday due to a U.S. sovereign rating downgrade by Fitch, intensifying concerns about market overbought conditions. The downgrade was attributed to fiscal indiscipline and governance challenges. Amidst this, the market is absorbing a stream of earnings reports. Traders are also expressing unease over rising bond yields and await insights from a private payrolls survey. In premarket trading, the SPDR S&P 500 ETF Trust (NYSE:SPY) fell 0.43% and the Invesco QQQ ETF (NASDAQ:QQQ) slumped 0.70%. Several companies including Advanced Micro Devices, Inc. (NASDAQ:AMD), Starbucks Corp. (NASDAQ:SBUX), and Tesla, Inc. (NASDAQ:TSLA) saw movements in their stock prices following their quarterly results announcements.

Portfolio Pulse from Shanthi Rexaline

August 04, 2023 | 11:02 am

Stock futures dipped slightly on Friday as traders awaited the June non-farm payrolls report. Thursday's trading saw stocks close lower due to data suggesting a tight labor market and speculation of a rate hike at the upcoming Federal Reserve meeting. The SPDR S&P 500 ETF Trust (NYSE:SPY) and the Invesco QQQ ETF (NASDAQ:QQQ) both fell in premarket trading. Levi Strauss & Co. (NYSE:LEVI), Biogen, Inc. (NYSE:BIIB), and Costco Wholesale Corp. (NASDAQ:COST) are in focus due to recent developments.

Portfolio Pulse from Shanthi Rexaline

July 07, 2023 | 10:52 am

US stocks are expected to have a cautious start on Wednesday as traders anticipate Federal Reserve Chair Jerome Powell's Congressional testimony. FedEx Corp.'s disappointing guidance may cause anxiety about the economy. Chinese EV startups Nio, XPeng, and Li Auto rally after China extends green-energy vehicle incentives.

Portfolio Pulse from Shanthi Rexaline

June 21, 2023 | 11:11 am

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