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

The Nasdaq 100 reached record highs driven by strong service sector performance and tech stock gains. The Magnificent Seven hit a $15 trillion valuation, and the iShares Semiconductor ETF (SOXX) had its best day in three months. Major indices and ETFs, including SPY, DIA, and QQQ, saw gains. Key stock movers included HPE, CRWD, DLTR, BF, CPB, OLLI, GME, AMC, ASML, ARM, AVGO, MU, and NVDA.

Portfolio Pulse from Piero Cingari

June 05, 2024 | 5:43 pm

Walmart Inc. (NYSE:WMT) has announced annual bonuses of up to $1,000 for eligible hourly U.S. store workers, including part-time and full-time associates. This initiative aims to enhance wages for approximately 700,000 front-line employees. Additionally, Walmart introduced the 'Associate to Technician' certification program to help employees transition to higher-paying technical roles. The company aims to increase its technician workforce from 450 to 2,000 over the next two years. Walmart's stock has gained more than 33% in the last 12 months.

Portfolio Pulse from Shivani Kumaresan

June 05, 2024 | 3:40 pm

Walmart Inc (NYSE:WMT) experienced a significant technical glitch in its self-checkout systems, leading to widespread mispricing across 1,600 stores. The issue caused both overcharges and undercharges, affecting many customers. Legal experts suggest potential violations of consumer protection laws. Walmart's stock has gained over 33% in the last 12 months, and investors can access it via the Consumer Staples Select Sector SPDR Fund (NYSE:XLP) and Vanguard Consumer Staples ETF (NYSE:VDC).

Portfolio Pulse from Shivani Kumaresan

May 30, 2024 | 5:12 pm

Target Corp (NYSE:TGT) reported a 3.1% decline in first-quarter FY24 sales and missed the adjusted EPS consensus estimate. Despite this, analysts remain optimistic, citing improvements in certain sales categories and digital sales. Analysts from BofA Securities and Telsey Advisory Group reiterated their positive ratings and price targets. Target's stock has declined over 5% in the last 12 months and is currently trading lower by 7.45%. Investors can gain exposure through Consumer Staples Select Sector SPDR Fund (NYSE:XLP) and Vanguard Consumer Staples ETF (NYSE:VDC).

Portfolio Pulse from Shivani Kumaresan

May 22, 2024 | 4:25 pm

Walmart Inc. (NYSE:WMT) has announced a new benefit for its Walmart+ members: free 24/7 virtual access to veterinary professionals through a partnership with Pawp. This service aims to provide convenience and peace of mind to pet owners, especially as traditional veterinary costs rise. Walmart+ members will save $99 on standalone Pawp memberships. Walmart stock has gained over 31% in the last 12 months.

Portfolio Pulse from Shivani Kumaresan

May 22, 2024 | 3:56 pm

Wall Street saw major indices reach new record highs, with the S&P 500, Nasdaq 100, and Dow Jones all posting gains. Gold hit a new all-time high, while cruise stocks rallied significantly. GameStop saw a sharp decline. Key movers included Moderna, Jabil, Hims & Hers Health, and Wix.com. Several companies are set to report earnings after the market close.

Portfolio Pulse from Piero Cingari

May 20, 2024 | 5:34 pm

The Dow Jones Industrial Average surpassed 40,000 points, marking a historic milestone. Chinese tech stocks, represented by the KraneShares CSI China Internet ETF (KWEB), reached 15-month highs. Meme stocks like GameStop (GME) and AMC Entertainment (AMC) experienced significant declines. Walmart (WMT) surged 6.5% after strong earnings, while Coinbase (COIN) fell over 8% amid a broader cryptocurrency market drop. Berkshire Hathaway's purchase of Chubb Limited (CB) shares led to a 4% rise in CB's stock.

Portfolio Pulse from Piero Cingari

May 16, 2024 | 5:44 pm

Wall Street indices hit record highs due to soft inflation data and lower bond yields. The S&P 500 and Nasdaq 100 rose, while meme stocks like AMC and GME plummeted. ETFs tracking homebuilders, chipmakers, and small caps saw gains. Bitcoin surged, and major EV stocks fell amid tariff rumors.

Portfolio Pulse from Piero Cingari

May 15, 2024 | 5:36 pm

Wall Street trades flat amid mixed producer inflation data and anticipation for consumer inflation report. Fed Chair Powell sees prolonged current monetary policy, while President Biden imposes significant tariffs on Chinese imports. The U.S. dollar index and Treasury yields fell, while small caps and meme stocks like GameStop and AMC surged. Commodities saw mixed movements, and Bitcoin dropped. Key ETFs and stocks like Insulet, Plug Power, SunPower, and Delcath Systems reacted to various news, including earnings and significant financial developments.

Portfolio Pulse from Piero Cingari

May 14, 2024 | 5:59 pm

Federal Reserve presidents Austan Goolsbee and Neel Kashkari, representing dovish and hawkish views respectively, both emphasize the need for more data before deciding on future monetary policies. Kashkari believes current policies may not be restrictive enough, citing less impact from tightening than expected and questioning the perception of financial conditions. Goolsbee, on the other hand, highlights the importance of adhering to the Fed's dual mandate and remains cautious about future rate hikes. Market reactions were muted, with slight movements in Treasury yields, the S&P 500, and sector-specific ETFs.

Portfolio Pulse from Piero Cingari

May 10, 2024 | 7:46 pm

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