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

Target Corp (NYSE:TGT) has decided to limit the sale of LGBTQ-themed products in certain stores during Pride Month, opting instead to offer the full range online. This decision follows a backlash that affected its revenue, with the company moving Pride displays to less prominent locations in some Southern stores last year. Target's approach aims to balance customer feedback and market research. Despite challenges, including a wave of anti-LGBTQ legislation, Target remains committed to supporting the LGBTQ+ community. The company reported a 1.7% revenue growth in Q4 FY23. Target's stock, part of ETFs like Vanguard Consumer Staples ETF (NYSE:VDC) and Consumer Staples Select Sector SPDR Fund (NYSE:XLP), has risen over 4% in the last 12 months.

Portfolio Pulse from Shivani Kumaresan

May 10, 2024 | 2:10 pm

US stocks are on track for a fourth consecutive session of gains despite hawkish comments from Fed's Kashkari, with the S&P 500, Nasdaq 100, and Dow Jones all seeing modest increases. Treasury yields fell, boosting bond ETFs like TLT. Palantir and Disney shares tumbled following disappointing guidance and performance, respectively. Other notable stock movements were influenced by earnings reports and rumors of partnerships.

Portfolio Pulse from Piero Cingari

May 07, 2024 | 5:18 pm

Target Corp is expanding its private-label brand sales beyond its own stores, starting with its Cat & Jack brand in Canada through Hudson's Bay Co. The company is exploring further expansion in Europe and the Americas, aiming to rebound from declining sales by leveraging the higher margins of private-label goods. Despite challenges from reduced consumer spending and product controversies, Target plans to boost performance through store expansion, a revamped loyalty program, and exclusive offerings. This strategy aligns with competitors like Walmart and Kroger, focusing on private-label products. Target's stock has seen a modest gain, and its movements can impact related ETFs such as the VanEck Retail ETF and the Consumer Staples Select Sector SPDR Fund.

Portfolio Pulse from Shivani Kumaresan

May 06, 2024 | 12:21 pm

A weaker-than-expected jobs report led to a market rally, with hopes of interest rate cuts. The S&P 500 and Nasdaq 100 saw significant gains, with Apple Inc. surging nearly 7% after announcing a $110-billion buyback program. The iShares Russell 2000 ETF also rose. Cryptocurrencies, including Bitcoin, gained, with Bitcoin surpassing $61,000. Various stocks moved on earnings reports, with notable rises in Amgen Inc. and MercadoLibre Inc., and declines in Expedia Group Inc. and Fortinet Inc.

Portfolio Pulse from Piero Cingari

May 03, 2024 | 5:51 pm

In a surprising turn of events for 2024, the utilities sector has outperformed the tech sector in the S&P 500, with an 8% increase compared to tech's 2.6% rise. This shift is highlighted by the performance of 10 utility stocks, including NRG Energy, NextEra Energy, and others, which have shown significant gains. The Utilities Select Sector SPDR Fund (XLU) and other sector ETFs like the Technology Select Sector SPDR Fund (XLK) have seen varied performances, reflecting broader market trends and investor sentiment towards defensive stocks amid economic uncertainty.

Portfolio Pulse from Piero Cingari

May 02, 2024 | 8:21 pm

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

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