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

79.73

Mkt cap

17B

Volume

17M

High

80.31

P/E Ratio

27.22

52-wk high

84.53

Low

79.67

Div yield

0.03

52-wk low

68.27

Target Corporation (NYSE:TGT) shares are trading higher due to solid earnings results and an outlook boost from Walmart Inc. (NYSE:WMT). Oppenheimer analyst Rupesh Parikh maintained an Outperform rating for Target but lowered the price forecast from $200 to $180. Investors can gain exposure to Target via VanEck Retail ETF (NASDAQ:RTH) and SPDR Select Sector Fund – Consumer Staples (NYSE:XLP).

Portfolio Pulse from Nabaparna Bhattacharya

August 15, 2024 | 12:33 pm

US stocks are attempting to recover from early losses driven by global market volatility and a 13% drop in Japan's Nikkei 225. Positive US services sector data eased recession fears, reducing the likelihood of a significant Fed rate cut. Major indices like the S&P 500, Dow Jones, and Nasdaq 100 saw smaller declines by midday. Bond yields rose, and the iShares 20+ Year Treasury Bond ETF (TLT) remained unchanged. Key stock movers included Kellanova, BioNTech, The Carlyle Group, and Tyson Foods.

Portfolio Pulse from Piero Cingari

August 05, 2024 | 5:11 pm

Wall Street experienced a sharp decline on Friday, driven by a cooler-than-expected July jobs report and concerns over the Federal Reserve's rate cut timing. The Magnificent Seven tech giants lost over $300 billion in market value, with Apple being the only exception due to positive earnings. The Nasdaq 100 entered a correction phase, and the CBOE Volatility Index surged over 30%. Small caps and semiconductors were hit hard, with the iShares Semiconductor ETF (SMH) down over 5%. Nvidia fell 3.4% amid a DOJ investigation. Treasuries and the Japanese yen saw gains, while gold and oil prices fell.

Portfolio Pulse from Piero Cingari

August 02, 2024 | 5:49 pm

Walmart Canada has increased wages for 40,000 store associates as part of a broader strategy to develop talent and modernize work processes. This move follows similar investments in the U.S. and aims to retain employees amid easing inflation and rising unemployment in Canada. Walmart stock has gained over 31% in the last 12 months.

Portfolio Pulse from Shivani Kumaresan

July 26, 2024 | 4:55 pm

Walmart Inc (NYSE:WMT) is considering a $200 million investment in self-driving forklifts from Fox Robotics to enhance warehouse automation. This move is part of Walmart's broader strategy to compete with Amazon.com Inc (NASDAQ:AMZN) and includes exclusive deals with robotics vendors like Fox Robotics and Symbotic Inc (NASDAQ:SYM). Analysts estimate that Walmart's automation efforts could add $20 billion to its profit by fiscal 2029. Walmart's stock has gained over 29% in the last 12 months.

Portfolio Pulse from Shivani Kumaresan

July 26, 2024 | 3:43 pm

The market experienced a risk-off day with major indices trading in the red. The VIX spiked over 10%, and semiconductor stocks remained weak due to concerns over U.S. chip export restrictions to China. Eli Lilly and Novo Nordisk faced significant declines due to competitive threats from Pfizer and Roche. Economic data showed rising jobless claims, and the U.S. dollar rose as a safe haven.

Portfolio Pulse from Piero Cingari

July 18, 2024 | 6:05 pm

The Nasdaq 100 experienced its worst day in 11 months, driven by a broad selloff in semiconductor stocks following news of the Biden administration's accelerated export restrictions to China. Major chipmakers like ASML Holding and Nvidia saw significant declines, impacting related ETFs and indices. The S&P 500 and Russell 2000 also fell, while the Dow Jones rose. Other notable stock movements included significant drops in AMD, TSM, ARM, and SCHW, while JNJ rallied on strong earnings.

Portfolio Pulse from Piero Cingari

July 17, 2024 | 6:27 pm

Walmart Inc. (NYSE:WMT) shares are trading at $70.14, up 0.73%. Evercore ISI Group raised the price target from $73 to $74. The workers' union in Chile canceled a strike, extending the labor agreement by 18 months. Walmart opened a new perishable distribution center in Lancaster, Texas. The Chinese Ministry of Commerce held talks with Walmart's CEO about economic ties and operations in China.

Portfolio Pulse from Nabaparna Bhattacharya

July 16, 2024 | 6:07 pm

Philip Morris International Inc (NYSE:PM) is investing $600 million to establish a manufacturing facility in Aurora, Colorado, expected to create 500 direct jobs and generate $550 million in annual economic impact. The plant will produce Swedish Match ZYN nicotine pouches, aiming to shift adult smokers away from traditional cigarettes. The construction phase will create nearly 5,000 jobs and contribute nearly $1 billion to the economy. PMI's stock has gained over 7% in the last 12 months.

Portfolio Pulse from Shivani Kumaresan

July 16, 2024 | 2:42 pm

June's U.S. retail sales report shows flat growth, indicating that consumers are becoming more discerning but continue to spend. Major retailers like Walmart, Amazon, and The Home Depot saw modest gains. ETFs tracking consumer staples also rose.

Portfolio Pulse from Michael Juliano

July 16, 2024 | 2:37 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.