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

79.15

Mkt cap

17B

Volume

9.9M

High

79.58

P/E Ratio

21.99

52-wk high

84.53

Low

78.88

Div yield

0.03

52-wk low

72.93

Wall Street saw modest gains on Thursday as traders awaited the Federal Reserve's inflation report. U.S. banks passed the Fed's 2024 stress tests, with regional banks outperforming. The semiconductor sector struggled, while gold and Bitcoin rebounded. Key stock movers included Salesforce, Goldman Sachs, Amazon, and Walgreens Boots Alliance.

Portfolio Pulse from Piero Cingari

June 27, 2024 | 5:33 pm

PepsiCo has waived a clause in its bottling agreement with Britvic, making Britvic a more appealing acquisition target for Carlsberg. This follows Britvic's rejection of a $3.9 billion bid from Carlsberg. The waiver will take effect if Britvic's board recommends and completes an acquisition by Carlsberg. PepsiCo's stock has lost more than 9% in the last 12 months, but shares were trading higher by 1.07% at $169.07 recently.

Portfolio Pulse from Shivani Kumaresan

June 24, 2024 | 3:02 pm

Target and Shopify have announced a partnership to feature Shopify merchants on Target Plus, expanding the digital marketplace with new products and brands. Target will also integrate select Shopify merchants' products into its physical stores. This collaboration aims to enhance the shopping experience and provide a broader array of high-quality options. Target and Shopify stocks are trading higher premarket.

Portfolio Pulse from Shivani Kumaresan

June 24, 2024 | 12:39 pm

Philip Morris International Inc. (NYSE:PM) is trading lower in premarket after its affiliate, Swedish Match North America LLC (SMNA), received a subpoena from the Attorney General of D.C. regarding the sale of flavored nicotine pouches. SMNA has suspended online sales of ZYN products and is conducting a review. The inquiry could lead to substantial financial liabilities. Philip Morris stock has gained over 7% in the last 12 months. Investors can gain exposure via Consumer Staples Select Sector SPDR Fund (NYSE:XLP) and Vanguard Consumer Staples ETF (NYSE:VDC).

Portfolio Pulse from Shivani Kumaresan

June 18, 2024 | 12:37 pm

Walmart Inc (NYSE:WMT) is relaunching its 'No Boundaries' fashion line to attract Gen Z customers, with a focus on modern design and affordability. The collection will launch on July 16th and feature 130 new items, including eco-friendly innovations. Walmart has also partnered with Roblox Corp (NYSE:RBLX) to offer virtual outfits. Walmart stock has gained over 27% in the last 12 months.

Portfolio Pulse from Shivani Kumaresan

June 14, 2024 | 11:50 am

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

Costco Wholesale Corporation (NASDAQ:COST) shares are trading flat today despite reporting strong sales growth for May and the first 39 weeks of FY24. The company also beat Q3 FY24 revenue and EPS estimates. Additionally, General Motors (NYSE:GM) is leveraging the Costco Auto Program for its EVs. Investors can gain exposure to Costco via SPDR Select Sector Fund – Consumer Staples (NYSE:XLP) and Fidelity MSCI Consumer Staples Index ETF (NYSE:FSTA).

Portfolio Pulse from Lekha Gupta

June 10, 2024 | 2:28 pm

Walmart Inc (NYSE:WMT) opposes a new New York law requiring panic buttons for retail worker safety, citing concerns about false alarms and costs. The law, awaiting the governor's signature, mandates large retailers to install panic buttons by 2027. Despite Walmart's safety initiatives, shareholders rejected a proposal for an independent review of workplace safety policies. Walmart's stock has gained over 28% in the last year.

Portfolio Pulse from Anusuya Lahiri

June 10, 2024 | 12:32 pm

Wall Street hit record highs on Friday following a stronger-than-expected jobs report. Non-farm payrolls increased by 272,000 in May, surpassing expectations. This led to a reassessment of rate-cut hopes, causing bond yields to rise and fixed-income markets to drop. The S&P 500 and Nasdaq 100 reached new highs, while small caps fell. The U.S. dollar index rallied, pressuring commodities like gold and silver. Major ETFs and stocks had mixed performances, with notable declines in GameStop, AMC, and mining stocks.

Portfolio Pulse from Piero Cingari

June 07, 2024 | 5:54 pm

Wall Street saw a quiet trading day as investors await the May jobs report. Nvidia fell 3% due to an antitrust investigation. The U.S. Justice Department and FTC are investigating Microsoft, OpenAI, and Nvidia for their roles in AI. Initial jobless claims rose, and first-quarter labor costs were revised lower, increasing expectations of a Fed rate cut. Commodities strengthened, with crude oil rising to $75 a barrel. Major indices traded within tight ranges, with notable stock movements including Illumina, Lululemon, Smartsheet, and GameStop.

Portfolio Pulse from Piero Cingari

June 06, 2024 | 6:08 pm

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