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

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

The US Consumer Price Index (CPI) rose by 3.7% YoY in September, surpassing the anticipated 3.6%. Despite this, economists largely believe that the Federal Reserve will maintain the current interest rates in November. The US dollar surged following the release of the CPI data, potentially breaking a six-day losing streak. Stocks headed lower, with the SPDR S&P 500 ETF Trust (SPY) trading slightly negative. The Energy Select Sector SPDR Fund (XLE) and the Technology Select Sector SPDR Fund (XLK) were up, while the Utilities Select Sector SPDR Fund (XLU) and the Consumer Staples Select Sector SPDR Fund (XLP) were down.

Portfolio Pulse from Piero Cingari

October 12, 2023 | 4:02 pm

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 Adobe Inc. (ADBE), and Stephanie Link of Hightower chose The J. M. Smucker Company (SJM). BMO Capital Markets analyst reiterated the Outperform rating on Adobe with a price target of $645.00. J.M. Smucker is selling its Sahale Snacks brand to Second Nature Brands for around $34 million.

Portfolio Pulse from Lisa Levin

October 12, 2023 | 12:24 pm

PepsiCo shares fell around 5% due to Walmart indicating a decrease in shopping demand due to the use of appetite-suppressing medications. The First Trust Nasdaq Food & Beverage ETF (FTXG) fell by over 5% last week, marking its third consecutive week of losses. The Materials Select Sector SPDR Fund (XLB) gained 0.9%, while the Consumer Staples Select Sector SPDR Fund (XLP) lost 0.6% on Friday.

Portfolio Pulse from Priya Nigam

October 09, 2023 | 12:48 pm

US stocks are set to open higher in the final trading session of the week, with the September jobs report being the main focus. The upcoming earnings season and corporate profit growth are also in focus. The SPDR S&P 500 ETF Trust (NYSE:SPY) and the Invesco QQQ ETF (NASDAQ:QQQ) both saw gains in premarket trading. Tesla (NASDAQ:TSLA) fell over 1% in premarket trading after reducing prices of its Model 3, Y EVs in the U.S. Levi Strauss & Co. (NYSE:LEVI) also fell about 2% following the release of its quarterly results. Pioneer Natural Resources Company (NYSE:PXD) jumped over 11% following a report that it is nearing a $60 billion deal to be bought by Exxon Mobil Corp. (NYSE:XOM).

Portfolio Pulse from Shanthi Rexaline

October 06, 2023 | 11:11 am

The US stock market is expected to open slightly lower on Thursday, following a recovery on Wednesday. The dollar and crude oil are surging in tandem, which could impact economies, industries, and consumers. This could challenge corporate profits, especially for US exporters and multinationals, as higher oil prices increase costs and a stronger dollar makes their products less competitive. In premarket trading, the SPDR S&P 500 ETF Trust (NYSE:SPY) edged down 0.07% and the Invesco QQQ ETF (NASDAQ:QQQ) edged up 0.01%. Stocks in focus include Sirius XM Holdings Inc. (NASDAQ:SIRI), The Clorox Company (NYSE:CLX), Rivian Automotive, Inc. (NASDAQ:RIVN), Conagra Brands, Inc. (NYSE:CAG), Constellation Brands, Inc. (NYSE:STZ), and Levi Strauss & Co. (NYSE:LEVI).

Portfolio Pulse from Shanthi Rexaline

October 05, 2023 | 11:16 am

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.