XLB Stock Recent News
XLB LATEST HEADLINES
China's central bank announced some modest easing as it seeks to boost industrial activity. Though this is a small move, additional easing is probable and very much needed, especially given recent employment data in China. Investors should view this move as bullish for industrial stocks, as well as for ETFs like the Materials Select Sector SPDR Fund ETF (XLB).
El Nino, the periodic weather phenomenon characterized by an abnormal warming of the Pacific Ocean, has set in 2023.
The Materials Select Sector SPDR ETF (XLB) was launched on 12/16/1998, and is a passively managed exchange traded fund designed to offer broad exposure to the Materials - Broad segment of the equity market.
The global economy has been struggling with high price inflation for more than a year. These sectors and their ETFs tend to perform better in a high inflationary environment.
Materials stocks, sensitive to the economic cycle, have come under pressure considering renewed recession jitters. The USD has rebounded but is very tame at the moment - watch the greenback for key implications on XLB.
Sector ETF report for XLB
Hugh Johnson, chairman and chief economist with Hugh Johnson Economics, joins 'Power Lunch' to discuss economic indicators suggesting a hard landing, stocks moving with Fed policy and stocks performing better in anticipation of a hard landing.
The American economy expanded faster than expected in the fourth quarter, with GDP rising 2.9% annually versus 2.6% expectation.
Sector ETF report for XLB
XLB ETF provides broad exposure to materials companies. Recent news that China is preparing to loosen property restrictions could power materials stocks in 2023.