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

Stocks opened December with losses amid reduced expectations for a Fed rate cut in March 2024. Treasury yields rose, affecting stocks and commodities, with the S&P 500, Nasdaq, and Dow Jones all falling. Small-cap stocks and Bitcoin gained, while commodities and tech stocks declined. Sector ETFs saw mixed performance, with healthcare and consumer staples stable, but communication services and technology sectors down. Notable stock movements included gains for Coinbase, SAIC, Uber, Gamestop, and Spotify, while Alaska Air Group fell after announcing an acquisition of Hawaiian Holdings, which surged.

Portfolio Pulse from Piero Cingari

December 04, 2023 | 7:32 pm

JPMorgan analysts project an 8% drop in the S&P 500 for 2024, forecasting the SPDR S&P 500 ETF Trust (SPY) to trade at pre-summer highs or October 2023 lows. The bearish outlook is based on high valuations, an aging business cycle, restrictive monetary policy, and geopolitical risks. The bank warns of a potential 30% fall in EPS during the next economic slowdown and advises sectoral shifts, recommending overweight positions in energy, consumer staples, healthcare, and utilities, while suggesting neutral or underweight positions for other sectors.

Portfolio Pulse from Piero Cingari

November 30, 2023 | 5:44 pm

Stocks are on the rise with the S&P 500 and Nasdaq 100 nearing highs, driven by stronger-than-expected U.S. GDP growth data for Q3. Despite hawkish comments from Richmond Fed President Thomas Barkin, the market is optimistic about future rate cuts. OPEC+ is considering oil production cuts, which has led to a rebound in oil prices. U.S. stock indices and sector ETFs saw gains, with notable performances from GM, WDAY, CRWD, GME, and NTAP after positive news. Other stocks and ETFs are also mentioned in relation to earnings reports and market performance.

Portfolio Pulse from Piero Cingari

November 29, 2023 | 6:59 pm

Stocks edged down ahead of the release of the FOMC minutes and Nvidia's earnings report. Disappointing results from Lowe's, Kohls, and Best Buy influenced market sentiment. Gold prices surged past $2,000 per ounce due to the dollar's weakness. Sector ETFs saw mixed performance, with healthcare and materials up, while tech and real estate were down. Agilent Technologies rose after earnings, while AMC hit a new low. Other companies are set to report earnings after market close. USO, TLT, and global equity ETFs like FEZ saw slight declines, while ARGT dropped after a previous rally. Cryptocurrencies Bitcoin and Ethereum also fell.

Portfolio Pulse from Piero Cingari

November 21, 2023 | 6:23 pm

U.S. stocks are trading higher, with major indices in the green. The U.S. dollar index has fallen to its lowest since August. Oil prices have rallied, with WTI surpassing $78 per barrel ahead of an OPEC+ meeting. The Energy Select Sector SPDR Fund (XLE) is up 0.5%. Treasury yields are flat. Tech stocks lead gains, with the Technology Select Sector SPDR Fund (XLK) up 1%. Microsoft hired former OpenAI executives, boosting its shares by 2%. Nvidia (NVDA) is up 1% before its earnings release. Citigroup (C) rose after announcing layoffs. Boeing (BA) surged 4% after an upgrade from Deutsche Bank. Paramount Global (PARA) soared 6.5% after selling Bellator MMA. PENN Entertainment (PENN) rallied 7% after an upgrade from Bank of America. The United States Oil Fund (USO) increased by 3.1%. European and emerging market ETFs saw mixed results, with ARGT up 12% after Argentina's presidential elections. Cryptocurrencies Bitcoin and Ethereum are up.

Portfolio Pulse from Piero Cingari

November 20, 2023 | 6:35 pm

Mixed earnings have led to a dampened risk appetite in the market, with Microsoft's positive report contrasting Alphabet's underwhelming cloud revenue growth. The focus now shifts to Meta Platforms, which is due to report after the close. Analysts stress the importance of robust corporate profit growth to sustain valuations, especially with rising bond yields. The S&P 500 Index broke a five-session losing streak, while the Nasdaq Composite recorded gains for the second consecutive session. In premarket trading, the SPDR S&P 500 ETF Trust slipped 0.34% and the Invesco QQQ ETF fell 0.55%.

Portfolio Pulse from Shanthi Rexaline

October 25, 2023 | 11:07 am

On CNBC's 'Halftime Report Final Trades', Liz Young of BNY Mellon Investment Management recommended Consumer Staples Select Sector SPDR Fund (XLP), Joseph Terranova of Virtus Investment Partners picked Uber Technologies (UBER), Anastasia Amoroso is buying shares of Invesco QQQ Trust (QQQ), and Stephen Weiss of Short Hills Capital Partners named Bitcoin (BTC) as his final trade. Uber is set to report its Q3 financial results on Nov. 7, 2023. Invesco QQQ Trust and Uber shares rose, while XLP fell.

Portfolio Pulse from Lisa Levin

October 24, 2023 | 12:01 pm

The market experienced volatility due to the escalating conflict between Israel and Hamas, remarks from Federal Reserve Chair Jerome Powell, and mixed earning reports from leading U.S. corporations. Rising bond yields pressured major stock indices, with SPY and QQQ down for the week. Tesla reported lower-than-expected Q3 results, causing its stock to decline. Netflix surpassed expectations with its Q3 report, resulting in double-digit gains for the week. Gold and gold mining stocks have performed well due to the conflict in Israel.

Portfolio Pulse from Piero Cingari

October 20, 2023 | 8:08 pm

The market sentiment remains negative due to mixed earnings and rate worries. Crude oil continues to rise, questioning the U.S. government's decision to buy oil. The Nasdaq Composite and the S&P 500 indices closed lower for the third straight session. Netflix shares rallied following its quarterly results. The SPDR S&P 500 ETF Trust and the Invesco QQQ ETF slipped in premarket trading. Stocks of Knight-Swift Transportation soared following their quarterly results, while SolarEdge Technologies plunged after warning of a Q3 shortfall.

Portfolio Pulse from Shanthi Rexaline

October 20, 2023 | 11:26 am

The US House of Representatives is in a state of chaos following the removal of U.S. Rep. Kevin McCarthy from the speakership position. This has led to a halt in the House's activities, affecting several urgent bills. The only candidate put forward by the GOP for the speakership is U.S. Rep. Jim Jordan, who needs 217 votes to win. The turmoil in Congress could negatively impact high-risk stocks, while safer options like government bonds or defensive stocks from consumer staple companies could be favored. ETFs based on growth and innovation could be negatively affected.

Portfolio Pulse from Natan Ponieman

October 16, 2023 | 8:44 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.