XLP Stock Recent News

With Warren Buffett's Berkshire Hathaway increasing its cash reserves and Deutsche Bank forecasting a likely mild recession in the first half of 2024, look into ETFs to hedge against economic downturn.

Despite some signs of slowdown in the economy, the biggest stories in the market still revolve around big tech earnings and artificial intelligence.

Rising rate worries have been prevalent in the United States as the U.S. economy is recovering steadily and the inflation remains sticky.

Launched on 12/16/1998, the Consumer Staples Select Sector SPDR ETF (XLP) is a passively managed exchange traded fund designed to provide a broad exposure to the Consumer Staples - Broad segment of the equity market.

The consumer staples ETF has nearly double the yield of the S&P 500. There are many Dividend Kings with impressive payout histories in the ETF.

The consumer staples sector has historically performed well during tough economic times. The Consumer Staples Select Sector SPDR Fund ETF is currently oversold based on the Relative Strength Index. Historical data suggests that the XLP could see significant upside performance in the coming months.

US equities could go higher into year-end and possibly challenge or beat previous highs. Consumer staples sector, represented by XLP, is not recommended due to its underperformance and unattractive valuation. XLP's chart is awful and has a negative correlation to soaring interest rates.

Nik Modi, RBC Capital Markets analyst, joins 'Squawk on the Street' to discuss what's driving the sell-off in consumer staple stocks, whether Modi would be buying on the recent pullbacks, and more.

The rise in U.S. Treasury yields has battered utility stocks. It's part of the reason why EP Wealth Advisors Managing Director of Portfolio Strategy Adam Phillips is advising investors hold an underweight position in both utilities and consumer staples.

Carter Worth, Worth Charting, joins 'Fast Money' to talk safety trades in the current market.