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Chuck Jaffe: One fund, on point for today, the expert to talk about it. This is The ETF of the Week.
VettaFi's vice chairman Tom Lydon discussed the Industrial Select Sector SPDR® ETF (XLI) on this week's “ETF of the Week” podcast with Chuck Jaffe of “Money Life.” For more news, information, and analysis, visit VettaFi | ETF Trends.
Exchange-traded funds tied to the AI boom might be outperforming this year, but momentum is shifting as investors weigh the tech-fueled hype and higher rates.
ETFs are a great investment vehicle for investors looking for decent returns over time and increased stability compared to just owning individual companies. The funds also allow increased exposure to some of the largest companies in the market at a reduced rate.
XLI tracks an Index of 75 S&P 500 Industrial stocks. Launched in December 1998, XLI has outperformed the broader market and is up again over the last three years. Investors today have an opportunity to buy a well-diversified sector ETF that trades at a 4-point discount to SPY and offers stronger earnings growth potential. Nearly all constituents have reported Q2 earnings, and the results were positive. Shares of Caterpillar, XLI's top holding, recently hit an all-time high.
Designed to provide broad exposure to the Industrials - Broad segment of the equity market, the Industrial Select Sector SPDR ETF (XLI) is a passively managed exchange traded fund launched on 12/16/1998.
As the second-quarter earnings season commences, Wall Street strategists, including Morgan Stanley's Michael Wilson, caution investors against expecting a boost to the U.S. stock market.
Apart from the ongoing AI boom, a strong job market, a resilient economy, solid cash reserves, a new bull market, a rebound in the home building sector and massive infrastructure spending should drive the broader market in the second half of 2023 despite rising rate worries.
The U.S. manufacturing sector has been facing a downturn, according to recent data released by the Institute for Supply Management (ISM) and S&P Global. Both reports showed that manufacturing activity in June contracted at a faster pace than in May.
For investors seeking momentum, Industrial Select Sector SPDR Fund XLI is probably on radar. The fund just hit a 52-week high and is up 29% from its 52-week low price of $82.75/share.