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

U.S. stock markets saw gains with the S&P 500 and Nasdaq 100 up, driven by positive corporate earnings and Fed Chair Jerome Powell's dismissal of a rate hike. Semiconductors, particularly Qualcomm, rebounded strongly. Small caps outperformed large caps, and treasury yields fell, indicating reduced interest rate hike fears. Commodities like gold and crude oil fell, while Bitcoin saw a slight recovery. Notable stock movements included Linde plc and ConocoPhillips dropping due to earnings reports, while Regeneron Pharmaceuticals and Moderna Inc. saw significant gains.

Portfolio Pulse from Piero Cingari

May 02, 2024 | 5:37 pm

April saw a downturn in major US stock indices with the S&P 500, Nasdaq 100, and Dow Jones all reporting declines. Utilities and miners were the bright spots, with specific ETFs and companies like NextEra Energy and Newmont Corp showing gains. The market faced challenges from inflation surprises and geopolitical tensions, impacting sector performances variably. The utilities sector led with a 2.1% increase, while real estate lagged due to interest rate sensitivity.

Portfolio Pulse from Piero Cingari

April 30, 2024 | 8:39 pm

U.S. equities, including the S&P 500 and Nasdaq 100, are on track for record closes, driven by a risk-on sentiment and anticipation of a slowing labor market. AI-related stocks and the 'Magnificent 7' led gains, while gold took a breather and Bitcoin rebounded. Notable movements were seen in ETFs like AIQ and MAGS, and stocks such as META, TSLA, FSLR, and ENPH. The SPDR S&P 500 ETF Trust, SPDR Dow Jones Industrial Average, and Invesco QQQ Trust also saw increases.

Portfolio Pulse from Piero Cingari

April 04, 2024 | 5:50 pm

Wall Street rebounded as the ISM Services PMI indicated slower growth, easing overheating concerns. The ADP report showed strong job growth, and the dollar declined. Fed Chair Powell hinted at potential rate cuts. WTI crude and precious metals prices rose. Major indices and ETFs like SPY, DIA, and QQQ saw gains, with GE Aerospace rallying post-separation and Intel facing losses. Blue Owl Capital announced a significant acquisition, while Spotify plans to raise subscription prices. Ulta Beauty and peers faced declines due to competition and demand slowdown.

Portfolio Pulse from Piero Cingari

April 03, 2024 | 5:31 pm

Following a CPI report indicating higher-than-expected inflation in February 2024, U.S. stocks maintained gains, while bonds and precious metals fell. The report showed a 3.2% year-over-year increase in CPI, with core CPI at 3.8%. Despite this, market expectations for a June rate cut remained at 70%. ETFs like TLT and GLD fell, while SPY, QQQ, and sector-specific ETFs like XLP and XLU showed mixed performance. Notably, ORCL and NVDA stocks surged, while LUV faced a significant drop.

Portfolio Pulse from Piero Cingari

March 12, 2024 | 2:38 pm

The S&P 500 index reached a record high of 5,171, marking a 1% increase and its most overbought condition since January 2020. The SPDR S&P 500 ETF Trust (SPY) has surged over 25% since October. Market breadth remains strong, with a significant portion of stocks trading above their 50-day and 200-day averages. Diverse sector performance led this week's rally, with materials, utilities, energy, and consumer staples sectors outperforming the technology sector. The Relative Strength Index (RSI) of the S&P 500 has reached 77, indicating overbought conditions.

Portfolio Pulse from Piero Cingari

March 07, 2024 | 10:07 pm

Cocoa prices have seen a significant fluctuation, hitting a record high before slumping 13% in three days, yet the market remains in short supply. This situation has impacted companies like Hershey Co, which expects flat earnings for 2024 due to higher raw materials costs. Similarly, Mondelez International Inc. and Nestle SA have seen their shares fall this month. The Consumer Staples Select Sector SPDR ETF has gained 12.6% since mid-October, indicating some resilience in the consumer staples sector despite the cocoa crisis.

Portfolio Pulse from Neil Dennis

February 29, 2024 | 2:20 pm

Wall Street experienced a downturn ahead of the Federal Reserve meeting minutes and Nvidia's earnings report. Cybersecurity stocks, notably Palo Alto Networks, faced significant losses, impacting the Global X Cybersecurity ETF. Energy stocks outperformed due to a rise in natural gas prices. Major indices and ETFs like SPY, DIA, and QQQ saw declines, while specific stocks reacted to earnings reports or anticipated earnings.

Portfolio Pulse from Piero Cingari

February 21, 2024 | 6:04 pm

Wall Street experienced a downturn, particularly in technology stocks, with the Nasdaq 100 dropping 1.5%. Nvidia and AMD saw significant declines ahead of Nvidia's earnings report. Alphabet was an exception among major tech stocks, posting a gain. The market's movement reflects a reassessment of stock valuations rather than interest rate concerns. ETFs like SPY, DIA, and QQQ also fell, with XLK underperforming. Walmart's stock rose following strong quarterly results and plans to acquire Vizio, while Discover Financial surged on news of its acquisition by Capital One.

Portfolio Pulse from Piero Cingari

February 20, 2024 | 6:46 pm

The S&P 500 and Nasdaq 100 ended their five-week winning streak due to higher-than-expected inflation reports, raising concerns about delayed Federal Reserve interest rate cuts. The Consumer Price Index and core inflation rates exceeded forecasts, while the Producer Price Index saw a monthly increase, leading to a rise in Treasury yields and negatively impacting markets, especially tech stocks.

Portfolio Pulse from Piero Cingari

February 16, 2024 | 9:20 pm

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