La vendita allo scoperto per Materials Select Sector SPDR dà agli investitori un'idea del grado in cui gli investitori stanno scommettendo sul declino delle azioni di Materials Select Sector SPDR. I dati relativi alle vendite allo scoperto vengono aggiornati ogni due settimane.

Materials Select Sector SPDR (ARCA:XLB), Report sulle vendite allo scoperto

Materials Select Sector SPDR

Basic Materials

Consumer Cyclical

Industrials

Technology

Financial Services

Healthcare

Real Estate

Communication Services

Utilities

Energy

Consumer Defensive

Other

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 securities of companies from the following industries: chemicals; metals and mining; paper and forest products; containers and packaging; and construction materials. The fund is non-diversified.

Linde Plc

Sherwin Williams Co/The

Freeport-McMoran Copper & Gold Inc

Ecolab, Inc.

Air Products & Chemicals Inc.

Newmont Corp.

Corteva Inc.

Nucor Corp.

Dow Inc.

Martin Marietta Materials Inc.

The Materials Select Sector SPDR Fund

INVESCO MATERIALS S&P US SECTOR  ETF

DuPont de Nemours, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DD#NYSE">DD</a>) announced on Friday that it has completed a major expansion of photoresist manufacturing capacity at its Sasakami site in <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/n41184381/dupont-expands-photoresist-manufacturing-capacity-at-sasakami-site-in-japan" rel="noreferrer noopener">Agano-shi, Niigata, Japan.</a>
The event celebrated the inauguration of the East Star building, part of DuPont&#8217;s growth strategy for lithography offerings, inspired by the guiding light of the stars.
This expansion has nearly doubled the site&#8217;s photoresist production capacity, enhancing DuPont&#8217;s ability to meet rising global demand and ensuring a stable, reliable supply for customers.
&#8220;DuPont&#8217;s Sasakami site has been integral to the long-term growth of our electronic materials portfolio, well-located for serving customers throughout the&nbsp;Asia-Pacific&nbsp;region,&#8221; said&nbsp;Sang Ho Kang, Vice President &amp; General Manager, Semiconductor Technologies, DuPont Electronics &amp; Industrial.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/10/41185026/whats-going-on-with-cisco-systems-stock-friday" rel="noreferrer noopener">What&#8217;s Going On With Cisco Systems Stock Friday?</a>
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, DD stock has gained over 18% in the past year. Investors can gain exposure to the stock via&nbsp;ProShares Smart Materials ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TINT#NYSE">TINT</a>) and&nbsp;Materials Select Sector SPDR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>).
Last month, DuPont introduced the Water Solutions Sustainability Navigator, the first digital tool designed to help users estimate key sustainability indicators when using various water treatment technologies—whether from<a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/n41024170/dupont-launches-digital-tool-to-estimate-sustainability-impact-from-the-use-of-water-treatment-tec" rel="noreferrer noopener"> DuPont or from other manufacturers.</a>
The tool currently enables users to input four distinct water treatment technologies—reverse osmosis (RO), ultrafiltration (UF), ion exchange resins (IER), and membrane bioreactors (MBR)—either individually or in combination.
&#8220;While there are many factors that can influence the design and selection of water treatment technologies, the Water Solutions Sustainability Navigator will help users better understand the interconnection of sustainability-driven choices and the cost of operations,&#8221; said&nbsp;Jeroen Bloemhard, Vice President and General Manager, DuPont Water Solutions.
Price Action: DD shares are trading higher by 0.70% to $87.75 at last check Friday.
Photo via Shutterstock
Read Next:
<ul>
<li> <a href="https://www.benzinga.com//node/41149788" target="_blank" rel="noreferrer noopener">OpenAI Valuation Soars To $157B In Latest Funding Round</a></li>
</ul>

Equities

News

Markets

Movers

General

TINT

DuPont Boosts Photoresist Production With Major Expansion In Japan

The S&amp;P 500 reached record highs during Wednesday morning trading in New York, while the tech-heavy Nasdaq 100 climbed past the 20,000-point mark, a level last <a href="https://www.benzinga.com/money/best-tech-stocks">seen on July 17.</a>
Semiconductor stocks outperformed, driven by anticipation of Micron Technology Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) earnings report, due after the market close on Wednesday.
Yet, Wall Street showed sideways performance across major indices as investors cautiously digested positive stimulus news from China, which boosted market sentiment on Tuesday, and looked ahead to upcoming economic data.
On Thursday, investors will turn their attention to the final second-quarter gross domestic product report. The second estimate already showed the U.S. economy growing at a robust 3% pace for the quarter ending in June.
Weekly jobless claims will also be closely monitored, especially after the latest Conference Board Consumer Confidence Index revealed growing labor market concerns among U.S. households.
Friday brings the release of the personal consumption expenditures price index for August, the Federal Reserve&#8217;s <a href="https://www.benzinga.com/news/large-cap/24/09/41029162/feds-favorite-inflation-data-friday-could-sway-november-interest-rate-cut-odds">preferred inflation gauge</a>. This data could provide critical clues about the expectations for the November rate cut.
The U.S. dollar index edged higher Wednesday, supported by a slight rise in Treasury yields. Oil prices dipped by 1% but pared heavier losses after a larger-than-expected draw in crude oil inventories suggested continued strong demand.
In the crypto space, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell 0.8%, retreating from an intraday high of $64,800 – its highest level since late July.
<h3 class="wp-block-heading">Wednesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices </td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,003.52</td>
<td>0.3%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,732.42</td>
<td>0.0%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,214.40</td>
<td>-0.4%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>41,986.73</td>
<td>-0.5%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 11:30 a.m.</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092524&amp;t=be2bearmibe3na1">Benzinga Pro</a> data: 
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;flattened at $570.76.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;flattened at $420.90.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.2% to $486.27.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell to $219.22.</li>
<li>The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, up 0.4%. The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down 0.9%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers </h3>
<ul>
<li>Duolingo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DUOL#NASDAQ">DUOL</a>) rallied 6% after Evercore ISI raised the price target from $270 to $335. </li>
<li>Fortrea Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTRE#NASDAQ">FTRE</a>) tumbled nearly 10% after Jefferies downgraded the stock from Buy to Hold. </li>
<li>Vistra Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>) rallied nearly 5% after Jefferies raised the price target from $99 to $137. </li>
<li>Ford Motor Co. and General Motors Co. fell 4.4% and 5%, respectively, after receiving a downgrade from Morgan Stanley.</li>
<li>Hewlett Packard Enterprise Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) rallied 4.9% after Barclays upgraded the stock from Equalweight to Overweight, raising the price target from $20 to $24. </li>
<li>Companies reporting earnings after the close include Micron Technology Inc and Jefferies Financial Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JEF#NYSE">JEF</a>). </li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/41025381/exclusive-novo-nordisk-faces-political-heat-over-weight-loss-drug-prices-ahead-of-e">EXCLUSIVE: Novo Nordisk Faces Political Heat Over Weight-Loss Drug Prices Ahead Of Elections, Yet &#8216;The Real Issue Is With The Middlemen&#8217;</a></li>
</ul>
Photo via Shutterstock.

Large Cap

Macro Economic Events

Mid Cap

Broad U.S. Equity ETFs

Small Cap

Econ #s

Economics

ETFs

$BTC

SPDR Dow Jones Industrial Average ETF Trust

DUOL

FTRE

S&P 500 Hits All-Time Highs, Nasdaq 100 Tops 20K Ahead Of Key Economic Data: What's Driving Markets Wednesday?

Wall Street inched higher on Tuesday, with the Nasdaq 100 outperforming other major indices, while cyclical sectors linked to metals and industrial commodities saw strong gains, fueled by a surprise stimulus package <a href="https://www.benzinga.com/markets/asia/24/09/41003814/chinese-stocks-jump-as-central-bank-unveils-major-stimulus-to-spur-economy-a-step-in-the-right-direc">from China&#8217;s central bank.</a>
The People&#8217;s Bank of China (PBOC) unveiled a series of aggressive measures, including cuts to the reserve requirement ratio (RRR) for banks and a reduction in the seven-day repo rate, following a recent cut to the 14-day reverse repo rate. These moves are expected to inject roughly $140 billion (1 trillion yuan) into the banking system, providing banks with additional liquidity to boost lending.
Chinese equities skyrocketed on the news, with the iShares China Large-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXI#NYSE">FXI</a>) soaring over 8%, marking its largest single-day gain since March 2022. 
Commodities followed suit with copper and silver climbing more than 3% each, while gold rose 0.7%, hitting record highs for the fourth consecutive session.
The Nasdaq 100 posted a 0.5% gain, leading U.S. indices, while the S&amp;P 500 remained nearly flat, hovering just shy of its all-time highs. 
The U.S. dollar weakened by 0.4% following a lower-than-expected September consumer confidence report from the Conference Board. This data has bolstered expectations for a potential 50-basis-point rate cut by the Federal Reserve in November.
Treasury yields fell on short-term maturities, while longer-dated yields held steady. Oil prices climbed 1.2%, though concerns about U.S. demand lingered due to the disappointing consumer confidence figures.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) slipped 0.2% failing to join the China-led rally across other risk assets.
<h1 class="wp-block-heading">Tuesday&#8217;s Performance In Major US Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,958.91</td>
<td>0.5%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,726.37</td>
<td>0.1 %</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,218.10</td>
<td>0.0%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,081.24</td>
<td>-0.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:30 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092424&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;rose 0.1% to $570.49.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;flattened at $420.90.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.6% to $485.85.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) stalled at $220.69.</li>
<li>The Materials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>) outperformed, up 1.2%. The Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) lagged, down 1.2%.</li>
</ul>
<h1 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h1>
<ul>
<li>Chinese stocks rallying Tuesday included Tencent Music Entertainment Group &#8211; ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TME#NYSE">TME</a>) up 14%, JD.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) up over 10%, PDD Holdings Inc &#8211; ADR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) up 10%, XPeng Inc &#8211; ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) up 9%, NIO Inc &#8211; ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) up 8.7% and Li Auto Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) up 9%.</li>
<li>NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) rallied nearly 4% amid rising growth prospect in China.</li>
<li>Materials stocks showing the largest gains were MP Materials Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MP#NYSE">MP</a>) up 10%, Freeport McMoRan Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) up 7.5%, Alcoa Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>) up 7.6%, and Southern Copper Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCCO#NYSE">SCCO</a>), up 7.3%.</li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/asia/24/09/41007724/gold-breaks-records-on-chinas-policy-stimulus-mining-metal-stocks-exhibit-strongest-1-day-rally-in-2">Gold Breaks Records On China&#8217;s Policy Stimulus: Mining, Metal Stocks Exhibit Strongest 1-Day Rally In 2024</a></li>
</ul>
Photo: Shutterstock

Asia

Sector ETFs

Global

Tech

BABA

NVDA

Citigourp Global Markets 2% Protected Notes Linked To The Djia

SCCO

Select Sector SPDR-Consumer Discretionary

XPEV

Tech Stocks Rise, Materials Sector Rallies On China's Stimulus, Nvidia Surges: What's Driving Markets Tuesday?

Editor&#8217;s note: This story has been updated with additional information. 
Markets are bouncing Wednesday afternoon following the Federal Reserve&#8217;s decision to cut rates by 0.5%, marking the beginning of the central bank&#8217;s <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40918078/is-the-fed-playing-with-fire-we-see-greater-risk-of-an-overheating-economy-as-they-">highly anticipated cutting cycle</a>.
What To Know: Wednesday&#8217;s&nbsp;0.5% rate cut brings the&nbsp;target fed funds rate&nbsp;to a new range&nbsp;between 4.75% and 5%, down from a 23-year high of 5.25% to 5.5%. It&#8217;s also the first rate cut since March 2020.
The fed funds rate has been sitting at a range between&nbsp;5.25% and 5.5%&nbsp;since the central bank last hiked in July 2023.
The SPDR S&amp;P 500 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which tracks the <a href="https://www.benzinga.com/topic/s-p-500">S&amp;P 500</a> index, was up 0.44% at all-time highs at last check, led higher by a variety of names like Arm Holdings Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>), The Trade Desk Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>) Toyota Motor Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>), General Motors Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) and Marriott International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAR#NASDAQ">MAR</a>).
The materials sector, as tracked by the Materials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>), was showing the most strength at the time of writing, climbing approximately 0.6% following the Fed decision. The energy sector, tracked by the Energy&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>), was the weakest, down 0.3% following the rate cut. Energy stocks had performed well on Wednesday ahead of the Fed decision, which may explain some of the relative weakness in afternoon trading.
Here&#8217;s a look at how various ETFs tracking the price-weighted Dow Jones Industrial Average, tech stocks, small caps, treasuries and gold are faring following the Fed&#8217;s latest move.
<ul>
<li>SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>): up 0.38% at $418.87.</li>
</ul>
<ul>
<li>Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>): up 0.59% at $476.25.</li>
</ul>
<ul>
<li>IShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>): up 2.31% at $224.36. Small caps outperformed broader markets ahead of the rate cut and continued to outperform in afternoon trading.</li>
</ul>
<ul>
<li>IShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>): down 0.36% at $100.48.</li>
</ul>
<ul>
<li>SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>): up 0.66% at $239.02. Gold hit all-time highs following the Fed&#8217;s rate decision.</li>
</ul>
It&#8217;s also worth noting that crypto markets are volatile following the Fed decision on rates. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was down 0.86% over a 24-hour period, trading at $60,480, but well off its lows for the day, and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) was down 1.79% at $2,322. 
Check This Out: <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40926026/federal-reserve-delivers-bold-0-5-rate-cut-signals-further-easing-ahead">Federal Reserve Delivers Bold 0.5% Rate Cut, Signals Further Easing Ahead</a>
The increased volatility is likely a result of <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40883274/senator-warren-urges-fed-to-slash-rates-by-0-75-veteran-investor-warns-even-0-5-cut">uncertainty heading into the meeting</a>. According to CME&#8217;s <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">FedWatch tool</a>, the market was projecting a 61% chance of a larger 0.5% rate cut heading into the meeting versus a 39% chance of a smaller 0.25% cut.
As reported by Benzinga, the updated quarterly Dot Plot, which helps signal the Fed&#8217;s future policy intentions, indicates a more aggressive path for rate cuts than previously projected following Wednesday&#8217;s 0.5% cut. The median projection now calls for a total of 1% in rate cuts in 2024.
SPY Price Action: At the time of publication, the <a href="https://www.benzinga.com/quote/SPY">SPDR S&amp;P 500</a> was up 0.44%, trading at $565.62, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40908202/10-etfs-investors-secretly-bought-before-the-feds-make-or-break-interest-rate-cal">10 ETFs Investors Secretly Bought Before The Fed&#8217;s Make-Or-Break Interest Rate Call</a></li>
</ul>
Watch Fed Chair Jerome Powell&#8216;s press conference here: 
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="&#x1f534;WATCH LIVE: Jerome Powell Speaks, FOMC Press Conference &#x7C; September 18th, 2024" width="500" height="281" src="https://www.youtube.com/embed/qVdXli47cWk?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
This illustration was generated using artificial intelligence via Midjourney.

Federal Reserve

$ETH

iShares Trust Barclays 20+ Year Treasury Bond Fund

S&P 500, Gold Strike All-Time Highs, Small Caps Rally After Fed Slashes Interest Rates For First Time In 4 Years (UPDATED)

Tech stocks kicked off the week on the negative note, driven lower by concerns over weaker-than-expected demand for Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)&#8217;s <a href="https://www.benzinga.com/news/24/09/40882969/iphone-16-pro-demand-lags-longer-wait-times-globally-china-shows-smaller-gap-analyst">latest iPhone 16 models</a>. 
Shares of Apple tumbled over 3% by midday in New York, heading for their worst session in more than a month. The sell-off in Apple spilled over to chip stocks, with Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) plunging more than 5%.
The broader semiconductor sector, tracked by the iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>), declined by 2.2%, reflecting widespread apprehension in the industry.
Elsewhere in the market, the S&amp;P 500 edged lower, while the Dow Jones and the Russell 2000 managed to buck the trend, posting modest gains for the day.
Bonds outperformed equities as Treasury yields dropped amid growing expectations of Federal Reserve rate cuts. 
Over the weekend, investor sentiment shifted toward an interest rate cut for the upcoming Sept. 18 meeting, with markets now pricing in a 60% probability of a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40883023/how-second-tier-economic-data-tuesday-could-sway-the-feds-rate-decision-it-will-be-">larger 50-basis-point rate cut.</a>
Gold prices extended their gains, rising 0.3% to reach new record highs, marking the third consecutive session of increases. In the energy market, oil prices climbed 0.7%, and natural gas prices surged 4% on a more optimistic demand outlook.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) wasn&#8217;t spared from the sell-off in tech stocks, falling 2.5%.
<h1 class="wp-block-heading">Monday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>41,490.08</td>
<td>0.2%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,192.30</td>
<td>0.2%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,621.31</td>
<td>-0.1%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,377.78</td>
<td>-0.7%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:15 p.m. ET</figcaption></figure>
According to Benzinga Pro data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.1% lower to $561.66.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 0.4% to $416.43.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.8% to $471.63.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.2% to $217.28.</li>
<li>The Financials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) outperformed, up 1.2%. The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) lagged, down 0.7%.</li>
</ul>
<h1 class="wp-block-heading">Monday&#8217;s Stock Movers</h1>
<ul>
<li>Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) jumped 6% after multiple analysts raised their price targets for the stock.</li>
<li>Lattice Semiconductor Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>) surged over 11% following the appointment of its new CEO, Ford Tamer.</li>
<li>In addition to Arm Holdings, other notable chipmakers that declined on Monday included Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), which fell 5.3%; Wolfspeed Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NASDAQ">WOLF</a>), down 9%; and Qorvo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>), which slid 7%. </li>
<li>Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) was 2% lower. </li>
</ul>
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This image was created using artificial intelligence MidJourney.

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LSCC

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Nasdaq 100 Falls As Apple Weighs On Chipmakers; Bonds Rise As Investors Eye 0.5% Rate Cut: What's Driving Markets Monday?

Wall Street is experiencing a risk-on session Friday, with all sectors of the S&amp;P 500 index trading in the green as traders are energized by the now-imminent Federal Reserve rate cut, expected in <a href="https://www.benzinga.com/topic/interest-rates">less than a week.</a>
Both the S&amp;P 500 and Nasdaq 100 are on track for their fifth consecutive session of gains, pushing their weekly performances to 4% and 5.7%, respectively, and fully recouping last week&#8217;s losses.
Friday saw small-cap stocks build significant momentum, once again outperforming their large-cap counterparts amid the euphoria over the anticipated Fed rate cuts.
A large overnight bet by a trader on a 50-basis-point Fed rate cut sent the 2-year Treasury yield down by 7 basis points to 3.58%. This puts it on track to close at its lowest level since September 12, 2022. 
Market-implied probabilities for a half-point cut surged to as high as 43%, according to CME FedWatch data. 
Gold, as tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), continues to extend its historic highs, rising by 1%. Meanwhile, silver has roared ahead with a 3.3% gain, bringing its weekly performance to a stunning 16%, marking its best week since April 2020.
The rally in precious metals has been a boon for miners. The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) has extended its weekly gains beyond 10%, its best performance since March 2023.
Oil prices are cooling off, slipping by 0.4% after Thursday&#8217;s sharp rally. In the cryptocurrency market, Bitcoin gained 2.2%, climbing to $59,400 and is on track to close at its highest level since late August.
<h3 class="wp-block-heading">Friday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,182.68</td>
<td>2.4%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>41,355.75</td>
<td>0.6%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,620.96</td>
<td>0.5%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,484.48</td>
<td>0.3%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:45 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?">Benzinga Pro</a> data: 
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.4% higher to $561.37.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 0.7% to $414.78.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) inched 0.2% higher to $474.18.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rallied 2.4% to $216.84.</li>
<li>Both the Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) and the Materials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>) outperformed, up 1.2%. The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) showed the smallest gains, up 0.3%.</li>
</ul>
<h3 class="wp-block-heading">Friday&#8217;s Stock Movers</h3>
<ul>
<li>Adobe Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) fell over 9%, despite reporting better-than-expected results last quarter, as revenue guidance missed forecasts. </li>
<li>Boeing Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) dropped 3.8% after 33,000 union workers launched a strike on Friday, rejecting the company's proposed four-year contract amid ongoing challenges at the aircraft manufacturer.</li>
<li>United Airlines Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) gained nearly 2% after announcing an agreement with SpaceX to equip its fleet with Starlink&#8217;s high-speed Wi-Fi service.</li>
<li>Warner Bros Discovery Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) rose over 9%, on track for the strongest 2-day rally since 2008, after announcing a multi-year partnership with Charter Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NYSE">CHTR</a>). </li>
<li>Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) dropped more than 6% after Barclays downgraded the stock from &#8216;Equal-Weight&#8217; to &#8216;Underweight&#8217; and slashed the price target from $181 to $133 per share.</li>
</ul>
Read now: 
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<li><a href="https://www.benzinga.com/24/09/40857449/consumer-morale-hits-4-month-high-inflation-expectations-ease-partisan-gaps-in-sentiment-inched-up">Consumer Morale Hits 4-Month High, Inflation Expectations Ease: &#8216;Partisan Gaps In Sentiment Inched Up&#8217;</a></li>
</ul>
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Wall Street Aims For Fifth Straight Gain, Small Caps Soar As 2-Year Yields Hit 2-Year Lows, Adobe Sinks: What's Driving Markets Friday?

The average American consumer is more optimistic than expected in September, <a href="https://www.benzinga.com/topic/consumers">data shows</a>. 
According to the University of Michigan&#8217;s <a href="https://www.benzinga.com/topic/consumers">September Survey of Consumers</a>, the consumer sentiment index rose to its highest level in four months, surpassing economic estimates. 
This surge reflects improvements in both current conditions and future expectations, driven by lower inflation worries and <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40812986/inflation-slows-to-2-5-in-august-lowest-rate-since-february-2021-core-index-remai">more favorable price conditions.</a>
See Also: <a href="https://www.benzinga.com/news/24/09/40852078/trump-vs-harris-latest-poll-hands-vice-president-5-point-lead-but-heres-why-vetran-pollster-nate-sil">Latest Poll Hands Vice President Harris 5-Point Lead Over Trump</a>
Key Highlights:
<ul>
<li>The University of Michigan consumer sentiment index rose from 67.9 August to 69 points in September, marking a 1.6% monthly surge and surpassing economist estimates – as tracked by TradingEconomics – of 68.</li>
<li>The sub-index for consumer expectations increased from 72.1 to 73 points, topping expectations of a decline to 71. </li>
<li>The sub-index for current conditions rose from 61.3 to 62.9, surpassing estimates of 61.5. </li>
<li>The year-ahead inflation expectations fell from 2.8% to 2.7%, the lowest in nearly four years, below forecasts of 2.8%. Long-term inflation expectations inched slightly higher from 3% to 3.1%. </li>
</ul>
<h3 class="wp-block-heading">Economist Takeaways </h3>
&#8220;The gain was led by an improvement in buying conditions for durables, driven by more favorable prices as perceived by consumers. Year-ahead expectations for personal finances and the economy both improved as well, despite a modest weakening in views of labor markets,&#8221; said University of Michigan's Surveys of Consumers Director&nbsp;Joanne Hsu.&nbsp;
Consumer sentiment is now roughly 40% higher than its June 2022 low, though caution remains widespread due to uncertainty surrounding the upcoming election, according to the expert.
However, there is contrasting sentiment between Democratic and Republican consumers as <a href="https://www.benzinga.com/topic/election-day">Election Day approaches</a> and Vice President Kamala Harris <a href="https://www.benzinga.com/general/politics/24/09/40805945/harris-vs-trump-vice-president-holds-3-point-lead-ahead-of-presidential-debate-but-swing-states-">widens the lead</a> over Ex-President Donald Trump <a href="https://www.benzinga.com/news/24/09/40761709/anthony-scaramucci-trump-will-lose-then-start-panicking-over-november-sentencing?itm_source=parsely-api">in preliminary polls</a>.
Hsu highlighted that &#8220;partisan gaps in sentiment inched up,&#8221; amid consumers&#8217; opposing views on the economic <a href="https://www.benzinga.com/startups/24/09/40855223/mark-cuban-praises-kamala-harris-support-for-business-is-her-new-tax-plan-a-game-changer">impact of her potential presidency</a>.
<h3 class="wp-block-heading">Market Reactions</h3>
Stocks extended their gains following the sentiment report. By 10:15 a.m. in New York, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was up 0.4%, while the tech-focused Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) edged 0.2% higher.
Small caps led the rally, with the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) surging 2%. Blue chips, tracked by the SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>), rose 0.5%.
All 11 S&amp;P 500 sectors posted gains, with the Materials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>) leading the way, up 1%, supported by strength in precious metals.
Meanwhile, the U.S. dollar weakened, with the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) slipping 0.4%. The dollar also dropped 0.9% against the Japanese yen, hitting levels last seen in late December 2023.
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Consumer Morale Hits 4-Month High, Inflation Expectations Ease: 'Partisan Gaps In Sentiment Inched Up'

Linde plc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LIN#NASDAQ">LIN</a>) shares are trading higher today. The company disclosed a long-term agreement to supply clean hydrogen to Dow Inc.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>) <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/ac40571189/linde-signs-long-term-agreement-to-supply-clean-hydrogen-to-dows-path2zero-project-in-canada" rel="noreferrer noopener">Fort Saskatchewan Path2Zero Project</a>.
The company plans to invest over $2 billion to build, own, and operate an integrated clean hydrogen and atmospheric gases facility in Alberta, Canada.
When completed in 2028, the new complex in Alberta will be Canada&#8217;s largest clean hydrogen production facility and one of the largest worldwide.
In the first phase, Linde will supply clean hydrogen, nitrogen, and other services to support Dow&#8217;s net-zero emissions integrated ethylene cracker and derivatives site.
Sanjiv Lamba, Chief Executive Officer, Linde, said, &#8220;This landmark project aligns with our strategy of developing high-quality projects with secured off-take. Our technology, experience and execution are enabling the transition to a cleaner economy.&#8221;
Additionally, Linde&#8217;s facility will supply clean hydrogen to industrial customers aiming to decarbonize. The complex will capture over 2 million metric tons of carbon dioxide annually for sequestration.
This will be Linde&#8217;s biggest single investment and its second world-scale clean hydrogen project, following its announcement on the U.S. Gulf Coast blue ammonia project.
Jim Fitterling, Chair and Chief Executive Officer, Dow stated, &#8220;Our business strategy to decarbonize our assets and drive growth while enabling higher shareholder returns is central to Dow&#8217;s long-term success.&#8221;
Investors can gain exposure to LIN via&nbsp;IShares U.S. Basic Materials ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYM#NYSE">IYM</a>) and&nbsp;Materials Select Sector SPDR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>).
Price Action: LIN shares are up 0.60% at $471.29 at the last check Tuesday.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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Linde Invests Over $2B For Clean Hydrogen, Inks Supply Deal With Dow: Details

Wall Street faced a downturn on Thursday as traders exercised caution ahead of Federal Reserve Chair Jerome Powell&#8217;s speech at the<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40466528/jackson-hole-preview-5-important-questions-ahead-of-jerome-powells-fed-speech"> Jackson Hole Symposium on Friday.</a>
Powell is anticipated to signal a potential rate cut in September, but market sentiment currently favors a smaller 25-basis-point reduction rather than a more substantial 50-basis-point cut.
On Thursday, economic data indicated that U.S. private sector activity surpassed expectations in August, according to the S&amp;P Global flash Purchasing Managers&#8217; Index (PMI). The growth was primarily driven by the services sector, which more than compensated for <a href="https://www.benzinga.com/news/24/08/40509090/august-services-growth-exceeds-expectations-as-manufacturing-slumps-inflation-gradually-eases-to-nor">the faster contraction in manufacturing.</a>
Major U.S. equity indices traded lower throughout the session, while the dollar and Treasury yields rebounded after four consecutive days of losses. 
The U.S. dollar rose nearly 0.4% against a basket of major currencies, and the yield on the 10-year Treasury note climbed six basis points. As a result, bonds fell, with the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) dropping 1.2%.
The energy sector emerged as the day&#8217;s top performer, buoyed by a more than 2% surge in oil prices. In contrast, natural gas plunged over 6% due to higher-than-expected inventory builds.
Gold also took a hit, declining over 1% and falling below the $2,500 per ounce threshold, weighed down by the strength of the dollar and rising Treasury yields. 
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell 1% to $60,000, failing to keep up with the Wednesday&#8217;s bullish momentum, which saw the largest cryptocurrency rise 3.6%.
<h1 class="wp-block-heading">Thursday&#8217;s Performance In Major US Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>40,830.40</td>
<td>-0.1 %</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,172.03</td>
<td>-0.2%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,608.27</td>
<td>-0.2%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,735.54</td>
<td>-0.5%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated At 12:41 p.m. ET</figcaption></figure>
According to Benzinga Pro data: 
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.1% lower to $559.92.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;eased 0.1% to $408.78.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.4% to $480.73.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) inched 0.2% lower to $215.03.</li>
<li>The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) outperformed, by 0.6%. The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) lagged, down by 0.8%.</li>
</ul>
<h3 class="wp-block-heading">Thursday&#8217;s Stock Movers</h3>
<ul>
<li>Snowflake Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) plummeted 12% as the<a href="https://www.benzinga.com/top-stories/24/08/40511947/investors-are-further-confused-on-snowflake-one-analyst-says-they-know-why"> guidance disappointed despite the company</a> reported stronger-than-expected results last quarter.</li>
<li>Other stocks reacting to corporate earnings were Zoom Video Communications Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>) up 13%; Synopsys Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNPS#NASDAQ">SNPS</a>) down 1.77%; Agilent Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/A#NYSE">A</a>) up 0.36%; Nordson Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDSN#NASDAQ">NDSN</a>) up 2.06%, Williams-Sonoma Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSM#NYSE">WSM</a>) down 7%; Viking Holdings Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIK#NYSE">VIK</a>), down 3.81% and BJs Wholesale Club Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BJ#NYSE">BJ</a>), down 6.29%.</li>
<li>Major companies slated to report quarterly results after the close include Intuit Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTU#NASDAQ">INTU</a>), Workday Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>), Ross Stores Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROSS#NASDAQ">ROSS</a>), CAVA Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAVA#NYSE">CAVA</a>) and BILL Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BILL#NYSE">BILL</a>). </li>
</ul>
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US Stocks Fall As Dollar, Treasury Yields Rise Ahead Of Fed's Jackson Hole; Oil Rebounds: What's Driving Markets Thursday?

Minutes from the July Federal Open Market Committee (FOMC) meeting have further solidified investors&#8217; expectations for a rate cut at the upcoming September meeting, as policymakers highlighted <a href="https://www.benzinga.com/top-stories/24/08/40492530/fed-minutes-reveal-plausible-case-for-interest-rate-cut-as-policymakers-cheer-inflation-progress">continued progress in disinflation.</a>
The U.S. dollar index, as closely tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), extended losses to a negative 0.3% for the day as of 3:40 p.m. ET, eyeing its fourth consecutive session of losses, driven by rising expectations of Fed rate cuts.
The minutes revealed that some participants had considered the &#8220;plausible case&#8221; for lowering rates as early as the July meeting, a sentiment echoed by Fed Chair Jerome Powell during the subsequent press conference.
The vast majority of participants noted that, if incoming data aligned with expectations, &#8220;it would likely be appropriate to ease policy at the next meeting.&#8221;
&#8220;Participants judged that recent data had increased their confidence that inflation was moving sustainably toward 2 percent,&#8221; the minutes stated.
Participants also agreed that labor market conditions were coming into better balance and that indicators tracking jobless claims and job separations deserved close attention going forward.
Moreover, the moderation in the labor market is expected to continue contributing to disinflation, particularly in core nonhousing services prices.
The path seems set for a rate cut in September, with Fed funds futures markets assigning a 61.5% probability for a 25-basis-point cut, compared to a 38% chance of a more significant 50-basis-point cut.
The probability of a more aggressive half-point rate cut surged during Wednesday&#8217;s session, influenced by a downward revision in annual nonfarm payroll estimates through March 2024 and supported by the FOMC minutes.
Also Read: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40493585/why-arkk-stalled-as-qqq-took-off-harsh-lessons-over-past-5-years">Why ARKK Stalled As QQQ Took Off: Harsh Lessons Over Past 5 Years</a>
<h3 class="wp-block-heading">Market Reactions</h3>
Wall Street had a minimal reaction to the minutes, with indices broadly holding their session gains.
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), tracking the S&amp;P 500 Index, was up by 0.4%, mostly unchanged after the minutes.
The tech-heavy Nasdaq 100, as monitored through the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), also showed a similar behavior, holding up a 0.5% gain for the day. 
Sector-wise, materials extended their gains following the release of the minutes, with the Materials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>) rising 1.2% for the session. 
Gold prices inched higher to $2,515 per ounce, fueling a surge in mining-related industries. 
The SPDR S&amp;P Metals &amp; Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>) rose 0.4% after the minutes, pushing session gains to 1.9%. The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) rose by about 0.5%, on track to secure its fifth straight session of gains, and reaching levels last seen in April 2022. 
In the cryptocurrency market, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) spiked 1.4% in the hour post minutes, extending daily gains to 3% 
Read now: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/08/40489714/traders-raise-bets-on-aggressive-rate-cuts-as-us-economy-sees-818-000-jobs-revised-away-7-etfs-r">Traders Raise Bets On Aggressive Rate Cuts As US Economy Sees 818,000 Jobs Revised Away: 7 ETFs React To Employment Data</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Dollar Falls As Fed Minutes Cement September Rate Cut; Bitcoin Rallies, Gold Miners Jump To 16-Month High

Wall Street trimmed early session gains on Wednesday after official government data downwardly revised nonfarm payrolls by 818,000 from previous estimates between <a href="https://www.benzinga.com/markets/equities/24/08/40489714/traders-raise-bets-on-aggressive-rate-cuts-as-us-economy-sees-818-000-jobs-revised-away-7-etfs-r">April 2023 and March 2024. </a>This adjustment suggests that the labor market&#8217;s strength was not as robust as investors had initially believed.
By midday trading in New York, major U.S. indices hovered slightly above the flatline, with both the S&amp;P 500 and the Nasdaq 100 adding mild gains after snapping an eight-day winning streak on Tuesday. Blue-chip stocks were flat, while small-cap stocks managed to rise by 0.6%.
Traders are now eagerly awaiting further insights on monetary policy from the minutes of the Federal Reserve Open Market Committee&#8217;s July meeting, scheduled for release at 2:00 p.m. ET.
Meanwhile, speculators have increased their expectations of a 50-basis-point rate cut in September, assigning a 32.5% probability to this scenario in response to the downward revisions of the annual nonfarm payrolls. Market participants are fully pricing in 100 basis points, equivalent to a full percentage point, in cuts by the end of the year.
The U.S. dollar is experiencing its fourth consecutive session of losses, while Treasury yields are dropping on the shorter end of the curve, with the policy-sensitive 2-year note seeing yields tumble by 6 basis points to 3.92%.
Gold is down slightly, off by 0.3%, while oil prices are down 1.2%, with West Texas Intermediate crude projected to close at its lowest levels since early February 2024.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) gained 1% but remains below the $60,000 mark.
<h3 class="wp-block-heading">Wednesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,152.99</td>
<td>0.6%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,606.52</td>
<td>0.2%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,747.92</td>
<td>0.1%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>40,818.92</td>
<td>0.0%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:38 p.m. </figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082124&amp;t=be2bearmibe3na1">Benzinga Pro</a> data: 
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.2% higher to $559.67.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;stalled at $408.62.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) edged 0.2% higher to $481.13.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.6% to $214.01.</li>
<li>The Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) and The Materials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>) outperformed, both up by 0.9%. The Financials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) lagged, down by 0.4%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
<ul>
<li>Target Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) rallied over 12% on stronger-than-expected quarterly results. The retail giant also witnessed several analysts raising their price target on the stock. </li>
<li>Macy&#8217;s Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) plummeted 13% after reducing revenue guidance for the fiscal year. </li>
<li>Other major companies reacting to earnings were TJX Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TJX#NYSE">TJX</a>) up 6.2%, Analog Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADI#NASDAQ">ADI</a>), Dycom Industries Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DY#NYSE">DY</a>), down 8.5%, Keysight Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEYS#NYSE">KEYS</a>), up 12%, Toll Brothers Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>), up 5.9% and Coty Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COTY#NYSE">COTY</a>), up 6.1%. </li>
<li>Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) rose 1.4% after announcing to halt production of an all-electric three-row SUV. </li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/asia/24/08/40472834/emerging-market-bonds-climb-to-over-2-year-high-driven-by-weaker-dollar-feds-interest-rate-shift">Emerging Market Bonds Climb To Over 2-Year High Driven By Weaker Dollar, Fed&#8217;s Interest Rate Shift</a></li>
</ul>
Photo: Shutterstock

Forex

COTY

KEYS

Stocks Trim Gains On Slower Jobs Growth, Dollar Falls Ahead Of Fed Minutes; Target Rallies, Macy's Tumbles: What's Driving Markets Wednesday?

The U.S. labor market&#8217;s seemingly gravity-defying growth has been tempered by revisions to employment gains from April <a href="https://www.benzinga.com/economics/macro-economic-events/24/08/40487711/us-economy-adds-818-000-fewer-jobs-than-initially-reported-urgency-for-interest-r">2023 to March 2024.</a>
The American economy has seen 818,000 nonfarm payrolls, previously reported in official government statistics, vanish into thin air.
This downward revision reduces the average monthly job gains to around 175,000, down from the originally reported 242,000.
The most significant declines occurred in professional and business services (-358,000 for the year), leisure and hospitality (-150,000), retail trade (-129,000), and manufacturing (-115,000).
On the other hand, there were upward revisions in private education and health services (+87,000) and transportation and warehousing (+56,400).
The immediate takeaway from this data is that the U.S. labor market was not as hot as initially perceived, although job gains have still been solid, amounting to approximately 2.1 million annually through March 2024.
<h3 class="wp-block-heading">Market Reactions: Dollar Falls As Rate-Cut Bets Increase, While Utilities, Gold Miners Rally</h3>
The downward revision to annual payroll data has heightened expectations for aggressive Fed rate cuts, with speculators increasingly betting on a 50-basis-point cut in September. According to the CME Group Fed Watch tool, the probability of this outcome has risen to 34.5%, up from 29% the previous day.
Traders are now fully pricing in that the federal funds rate will approach 4.25%-4.5% by the end of the year, implying a full percentage point cut from current levels.
This shift in interest rate expectations triggered a negative reaction in the U.S. dollar, with the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) erasing earlier gains.
In contrast, gold prices reacted positively following the release, although the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) remained in negative territory at 11:20 a.m. ET, down 0.2%.
Growth-sensitive commodities like oil declined, with the United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>) falling more than 1% after the data release, and down 0.3% for the day.
While the S&amp;P 500 remained largely unchanged, notable sector movements emerged. The Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) dropped sharply following the data release, while the Materials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>) and Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) saw gains.
Within industries, gold miners experienced a turnaround, with the VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) flipping from session losses to gains.
<h3 class="wp-block-heading">Chart: 7 ETFs React To The Downward Revision In Employment Statistics</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="507" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/21113422/image-185-1024x507.png" alt="" class="wp-image-506595" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/21113422/image-185-1024x507.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/21113422/image-185-300x148.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/21113422/image-185-768x380.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/21113422/image-185-1536x760.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/21113422/image-185.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Image: <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082124&amp;t=be2bearmibe3na1">Benzinga Pro</a></figcaption></figure>
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/08/40469009/a-bar-of-pure-gold-is-now-worth-1-million-what-can-it-buy-you">A Bar Of Pure Gold Is Now Worth $1 Million: What Can It Buy You?</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Currency ETFs

Traders Raise Bets On Aggressive Rate Cuts As US Economy Sees 818,000 Jobs Revised Away: 7 ETFs React To Employment Data

Sherwin-Williams Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHW#NYSE">SHW</a>) shares are&nbsp;trading higher after the company reported <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/n39902282/the-sherwin-williams-company-reports-2024-second-quarter-financial-results" rel="noreferrer noopener">second-quarter FY24 results</a>.
Adjusted earnings per share of&nbsp;$3.70,&nbsp;<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">beating the Wall Street view of&nbsp;$3.48</a>.&nbsp;
Quarterly revenue rose 0.5% Y/Y to&nbsp;$6.27 billion,&nbsp;missing the analyst consensus of&nbsp;$6.33 billion.&nbsp;
Revenue increased due to higher sales volumes in the Paint Stores and Performance Coatings Groups despite lower volumes in the Consumer Brands Group.
Net sales in Paint Stores Group rose 3.5% Y/Y, mainly due to low-single-digit volume growth and the continued impact of higher selling prices implemented earlier in the year.
Quarterly gross profit increased to&nbsp;$3.06 billion&nbsp;from&nbsp;$2.87 billion&nbsp;a year ago. Gross margin in the quarter under review expanded to&nbsp;48.8%&nbsp;from&nbsp;46.0%&nbsp;a year ago.
Repurchase &amp; Dividend: The company returned cash of&nbsp;$1.34 billion to shareholders&nbsp;in the form of&nbsp;dividends and repurchases of 3.1 million shares of its common stock during the&nbsp;first six months of 2024.&nbsp;
As of June 30, 2024, the company had authorization to buy back 36.5 million shares of its common stock through open market purchases.
Sherwin-Williams exited the quarter with cash and equivalents worth&nbsp;$200.0 million.
Outlook:&nbsp;Sherwin-Williams raised 2024 adjusted EPS&nbsp;guidance&nbsp;to $11.10-$11.40 (from&nbsp;$10.85-$11.35) versus the&nbsp;$11.37&nbsp;estimate.
The company expects consolidated net sales to be up a low-single-digit percentage (vs. up low to&nbsp;mid-single digit percentage earlier) <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">compared to the full year 2023</a>.
For the third quarter, Sherwim-Williams expects net sales growth to be a low-single-digit percentage Y/Y.
President and Chief Executive Officer Heidi G. Petz said, &#8220;Led by strong performance in the Paint Stores Group, we continued to execute on our proven strategy across the Company to deliver consolidated sales within our expectations, gross margin expansion, EBITDA growth, and a 12.5% percent increase in adjusted diluted net income per share.&#8221;
&#8220;Consumer Brands Group sales continued to be impacted by soft North America DIY paint demand.&#8221;
Investors can gain exposure to the stock via Materials Select Sector SPDR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>) and Fidelity MSCI Materials Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FMAT#NYSE">FMAT</a>).
Price Action: SHW shares are up 4.20% at $335.89 at the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image: Shutterstock/ Sebastian Duda

Earnings

Guidance

Buybacks

FMAT

Sherwin-Williams Paints A Rosy Picture: Q2 Profit Soars Amid Sales Challenges

Air Products and Chemicals, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APD#NYSE">APD</a>) shares are trading higher today. Aramco has agreed to acquire a 50% stake in its Blue Hydrogen Industrial Gases <a href="https://www.aramco.com/en/news-media/news/2024/aramco-to-acquire-50-stake-in-air-products-qudras-blue-hydrogen-industrial-gases-company" target="_blank" rel="noreferrer noopener">Company (BHIG)</a>.
In particular, Saudi Arabia&#8217;s largest oil company, Aramco, inked definitive deals to acquire a stake in BHIG, which is based in Jubail and a subsidiary of Air Products Qudra (APQ).
After the transaction, Aramco and APQ, a joint venture of Air Products and Qudra Energy, will each own 50% of BHIG.
The transaction is contingent on standard closing conditions and includes provisions for Aramco to secure hydrogen and nitrogen offtake options.
Aramco is expanding its lower-carbon hydrogen business and alternative energy portfolio through an investment in BHIG.
Dr. Samir J. Serhan, Air Products Qudra Chairman, commented, &#8220;It is an honor to further extend Air Products Qudra&#8217;s strong partnership with Aramco, working to accelerate the hydrogen economy and driving the creation of the largest hydrogen network in the Middle East, which is expected to serve the refining, chemical, and petrochemical industries.&#8221;
Ashraf Al Ghazzawi, Aramco Executive Vice President of Strategy &amp; Corporate Development, said, &#8220;We intend to leverage our growing capabilities in carbon capture and storage (CCS), as well as our technical expertise in hydrogen, with the ambition to support the establishment of a vibrant marketplace for lower-carbon hydrogen — helping lay the foundations of a future energy system.&#8221;
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39709835/honeywells-1-81b-power-play-acquires-air-products-lng-tech-to-lead-energy-transition" rel="noreferrer noopener">Honeywell&#8217;s $1.81B Power Play: Acquires Air Products&#8217; LNG Tech to Lead Energy Transition</a>
Investors can gain exposure to APD via&nbsp;IShares U.S. Basic Materials ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYM#NYSE">IYM</a>) and Materials Select Sector SPDR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>).
Price Action: APD shares are up 3.49% at $268.91 at the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock

Asset Sales

Why Air Products and Chemicals Shares Are Surging Today

A smart beta exchange traded fund, the First Trust Materials AlphaDEX ETF (ARCA:FXZ) debuted on 05/08/2007, and offers broad exposure to the Materials ETFs category of the market.
What Are Smart Beta ETFs?
The ETF industry has traditionally been dominated by products based on market capitalization weighted indexes that are designed to represent the market or a particular segment of the market.
Market cap weighted indexes offer a low-cost, convenient, and transparent way of replicating market returns, and are a good option for investors who believe in market efficiency.
However, some investors believe in the possibility of beating the market through exceptional stock selection, and choose a different type of fund that tracks non-cap weighted strategies: smart beta.
Based on specific fundamental characteristics, or a combination of such, these indexes attempt to pick stocks that have a better chance of risk-return performance.
This area offers many different investment choices, such as simplest equal-weighting, fundamental weighting and volatility/momentum based weighting methodologies; however, not all of these strategies can deliver superior results.
Fund Sponsor &amp; Index
The fund is sponsored by First Trust Advisors. It has amassed assets over $371.37 million, making it one of the average sized ETFs in the Materials ETFs. Before fees and expenses, this particular fund seeks to match the performance of the StrataQuant Materials Index.
The StrataQuant Materials Index is a modified equal-dollar weighted index designed by the AMEX to objectively identify and select stocks from the Russell 1000 Index that may generate positive alpha relative to traditional passive style indices through the use of the AlphaDEX screening methodology.
Cost &amp; Other Expenses
For ETF investors, expense ratios are an important factor when considering a fund&#39;s return; in the long-term, cheaper funds actually have the ability to outperform their more expensive cousins if all other things remain the same.
Annual operating expenses for FXZ are 0.62%, which makes it on par with most peer products in the space.
It has a 12-month trailing dividend yield of 1.62%.
Sector Exposure and Top Holdings
While ETFs offer diversified exposure, which minimizes single stock risk, a deep look into a fund&#39;s holdings is a valuable exercise. And, most ETFs are very transparent products that disclose their holdings on a daily basis.
For FXZ, it has heaviest allocation in the Materials sector --about 90.20% of the portfolio.
Looking at individual holdings, CF Industries Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cf#NYSE">CF</a>) accounts for about 4.75% of total assets, followed by FMC Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fmc#NYSE">FMC</a>) and Albemarle Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/alb#NYSE">ALB</a>).
FXZ&#39;s top 10 holdings account for about 42.04% of its total assets under management.
Performance and Risk
Year-to-date, the First Trust Materials AlphaDEX ETF has lost about -6.48% so far, and it&#39;s up approximately 2.79% over the last 12 months (as of 07/08/2024). FXZ has traded between $58.78 and $72.04 in this past 52-week period.
The fund has a beta of 1.20 and standard deviation of 24.45% for the trailing three-year period, which makes FXZ a medium risk choice in this particular space. With about 39 holdings, it has more concentrated exposure than peers.
Alternatives
First Trust Materials AlphaDEX ETF is a reasonable option for investors seeking to outperform the Materials ETFs segment of the market. However, there are other ETFs in the space which investors could consider.
Materials Select Sector SPDR ETF (ARCA:XLB) tracks Materials Select Sector Index and the FlexShares Morningstar Global Upstream Natural Resources ETF (ARCA:GUNR) tracks Morningstar Global Upstream Natural Resources Index. Materials Select Sector SPDR ETF has $5.42 billion in assets, FlexShares Morningstar Global Upstream Natural Resources ETF has $5.89 billion. XLB has an expense ratio of 0.09% and GUNR charges 0.46%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Materials ETFs.
<a href="https://www.zacks.com/stock/news/2297699/is-first-trust-materials-alphadex-etf-fxz-a-strong-etf-right-now?cid=CS-BENZ-FT-smart_beta_etf-2297699">To read this article on Zacks.com click here.</a>

Analyst Ratings

Trading Ideas

GUNR

Is First Trust Materials AlphaDEX ETF a Strong ETF Right Now?

The Nasdaq 100 index posted its fourth consecutive session in the green on Thursday, closing up 0.6% at 19,576 points and reaching new all-time highs as tech stocks <a href="https://www.benzinga.com/tech">drive broader market gains</a>.
The S&amp;P 500 also recorded its fourth straight positive day, rising 0.2% to a record closing level of 5,433 points, rebounding from a morning dip caused by <a href="https://www.benzinga.com/markets/equities/24/06/39310762/producer-inflation-rise-less-than-expected-jobless-claims-soar-thursdays-economic-digest">disappointing unemployment claims data.</a>
In the afternoon, traders regained confidence in risky assets after U.S. Treasury Secretary Janet Yellen expressed optimism about continued progress in disinflation. While Yellen noted easing labor market pressures, she emphasized that the job market remains strong.
The market anticipates a rate cut in September with a probability nearing 70%, and is currently pricing in over 50 basis points of cuts by the end of the year, equivalent to two fully priced rate cuts.
Thursday&#8217;s performance among the eleven sectors of the S&amp;P 500 saw technology leading, up 1%, followed by real estate, up 0.5%, both supported by growing expectations of interest rate cuts.
Energy was the biggest laggard, down 0.9%, followed by communication services, down 0.7%.
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Sector</th>
<th>1-day %chg</th>
</tr>
</thead>
<tbody>
<tr>
<td>Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>)</td>
<td>1.02%</td>
</tr>
<tr>
<td>Real Estate&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>)</td>
<td>0.52%</td>
</tr>
<tr>
<td>Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>)</td>
<td>0.19%</td>
</tr>
<tr>
<td>Consumer Discretionary&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>)</td>
<td>0.13%</td>
</tr>
<tr>
<td>Consumer Staples&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>)</td>
<td>0.12%</td>
</tr>
<tr>
<td>Materials&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>)</td>
<td>-0.03%</td>
</tr>
<tr>
<td>Health Care&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>)</td>
<td>-0.04%</td>
</tr>
<tr>
<td>Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>)</td>
<td>-0.10%</td>
</tr>
<tr>
<td>Industrials&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>)</td>
<td>-0.64%</td>
</tr>
<tr>
<td>Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>)</td>
<td>-0.73%</td>
</tr>
<tr>
<td>Energy&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>)</td>
<td>-0.93%</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">Nasdaq 100&#8217;s Top 5 Risers </h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>Last</td>
<td>Chg %</td>
</tr>
<tr>
<td>Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>)</td>
<td>1,679.29</td>
<td>12.29%</td>
</tr>
<tr>
<td>NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)</td>
<td>129.37</td>
<td>3.33%</td>
</tr>
<tr>
<td>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)</td>
<td>182.33</td>
<td>2.84%</td>
</tr>
<tr>
<td>Exelon Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXC#NASDAQ">EXC</a>)</td>
<td>35.40</td>
<td>1.86%</td>
</tr>
<tr>
<td>Micron Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>)</td>
<td>143.08</td>
<td>1.66%</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">Nasdaq 100&#8217;s Top 5 Fallers</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>Last</td>
<td>Chg %</td>
</tr>
<tr>
<td>Warner Bros. Discovery Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>)</td>
<td>7.31</td>
<td>-6.40%</td>
</tr>
<tr>
<td>MongoDB, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDB#NASDAQ">MDB</a>)</td>
<td>218.14</td>
<td>-4.85%</td>
</tr>
<tr>
<td>Atlassian Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEAM#NASDAQ">TEAM</a>)</td>
<td>156.04</td>
<td>-4.17%</td>
</tr>
<tr>
<td>Zscaler, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZS#NASDAQ">ZS</a>)</td>
<td>181.00</td>
<td>-4.15%</td>
</tr>
<tr>
<td>Sirius XM Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIRI#NASDAQ">SIRI</a>)</td>
<td>2.53</td>
<td>-3.93%</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">S&amp;P 500&#8217;s Top 5 Risers</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>Last</td>
<td>Chg %</td>
</tr>
<tr>
<td>Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>)</td>
<td>871.16</td>
<td>12.45%</td>
</tr>
<tr>
<td>Broadcom Inc.</td>
<td>1,678.90</td>
<td>12.26%</td>
</tr>
<tr>
<td>Arista Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>)</td>
<td>331.67</td>
<td>6.53%</td>
</tr>
<tr>
<td>Incyte Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INCY#NASDAQ">INCY</a>)</td>
<td>62.68</td>
<td>4.57%</td>
</tr>
<tr>
<td>Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>)</td>
<td>113.36</td>
<td>4.27%</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">S&amp;P 500&#8217;s Top 5 Fallers</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>Last</td>
<td>Chg %</td>
</tr>
<tr>
<td>Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>)</td>
<td>10.35</td>
<td>-6.92%</td>
</tr>
<tr>
<td>Warner Bros. Discovery Inc. </td>
<td>7.31</td>
<td>-6.40%</td>
</tr>
<tr>
<td>Etsy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>)</td>
<td>60.15</td>
<td>-4.93%</td>
</tr>
<tr>
<td>Generac Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GNRC#NYSE">GNRC</a>)</td>
<td>136.17</td>
<td>-4.58%</td>
</tr>
<tr>
<td>Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>)</td>
<td>108.23</td>
<td>-3.92%</td>
</tr>
</tbody>
</table>
</figure>
Now Read: <a href="https://www.benzinga.com/etfs/specialty-etfs/24/06/39317123/goldman-sachs-reaffirms-september-rate-cut-forecast-downplays-feds-hawkish-surprise">Goldman Sachs Reaffirms September Rate Cut Forecast, Downplays Fed&#8217;s &#8216;Hawkish Surprise&#8217;</a>
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AVGO

ETSY

GNRC

INCY

PARA

SIRI

SMCI

TEAM

TSLA

Nasdaq 100, S&P 500 Close At Record Highs As Tech Stocks Reclaim Dominance: Thursday's Gainers & Losers

A cooler-than-expected U.S. inflation report fueled a rally on Wall Street, ahead of the highly anticipated Federal Open Market Committee (FOMC) <a href="https://www.benzinga.com/markets/equities/24/06/39289912/us-inflation-eases-more-than-expected-in-may-boosts-2024-rate-cut-prospects-ahead-of-wednesdays-">meeting at 2:00 p.m. Wednesday.</a>
What happened: Inflation slowed to 3.3% annually in May, below both the expected and previous rate of 3.4%. On a monthly basis, the Consumer Price Index (CPI) remained flat, below the anticipated 0.1% increase and a significant drop from April&#8217;s 0.3% rise.
Additionally, the core measure of inflation, which excludes energy and food, weakened more than predicted. Annually, core inflation slowed from 3.6% to 3.4%, falling short of the 3.5% expectation.
Why it matters: Lower-than-expected inflation data is bolstering hopes for a steady return to the Federal Reserve&#8217;s 2% target and raising expectations for interest rate cuts later this year.
Markets are now assigning a probability of over 70% for a September rate cut, up from 54% before the inflation report. Notably, Fed futures now indicate 55 basis points of rate cuts priced in by the end of the year, implying two rate cuts.
Prospects of a declining cost of borrowing are aiding interest-rate sensitive sectors and stocks, which had lagged in recent weeks due to fears of prolonged higher rates.
Market reactions: Small caps, as tracked by the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>), were the brightest spot in the market, opening 2.9% higher and on track for the best-performing day year to date.
Chart: Small Caps Eye Best Day Since Mid-December 2023
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="500" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/12094652/image-30-1024x500.png" alt="" class="wp-image-384572" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/12094652/image-30-1024x500.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/12094652/image-30-300x147.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/12094652/image-30-768x375.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/12094652/image-30-1536x750.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/12094652/image-30.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
In comparison, large-cap indices such as the S&amp;P 500, the Nasdaq 100, and the Dow Jones Industrial Average were all about 0.9% higher.
Sector-wise, real estate and materials were the best performers, with the Vanguard Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNQ#NYSE">VNQ</a>) and the Materials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>) up 2.2% and 1.6%, respectively.
Industry-wise, homebuilders, regional banks, solar, and biotech stocks were the top performers, showing notable increases.
<ul>
<li>SPDR S&amp;P Homebuilders ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XHB#NYSE">XHB</a>) up 4%</li>
<li>Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) 3.9%</li>
<li>SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) up 3.3%</li>
<li>SPDR S&amp;P Biotech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XBI#NYSE">XBI</a>) up 2.3%</li>
</ul>
According to <a href="https://pro.benzinga.com/dashboard">Benzinga pro</a> data the top-performing stocks (with at least $1 billion of market cap) in the hour following the U.S. inflation report were: 
<ol>
<li>Sunrun Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>): 7.87%</li>
<li>Array Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARRY#NASDAQ">ARRY</a>): 7.65%</li>
<li>Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>): 7.44%</li>
<li>Element Solutions Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESI#NYSE">ESI</a>): 6.78%</li>
<li>TeraWulf Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WULF#NASDAQ">WULF</a>): 6.68%</li>
<li>Iamgold Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAG#NYSE">IAG</a>): 6.55%</li>
<li>Globus Medical Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GMED#NYSE">GMED</a>): 6.04%</li>
<li>Dyne Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DYN#NASDAQ">DYN</a>): 5.99%</li>
<li>Enphase Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>): 5.93%</li>
<li>Upstart Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPST#NASDAQ">UPST</a>): 5.75%</li>
</ol>
Looking ahead, traders are now eagerly anticipating the Federal Open Market Committee (FOMC) meeting. The statement and new macroeconomic projections will be released at 2:00 p.m. ET, followed by Fed Chair Powell's press conference at 2:30 p.m. ET.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="&#x1f534;WATCH LIVE: Jerome Powell Speaks, FOMC Press Conference &#x7C; June 12th, 2024" width="500" height="281" src="https://www.youtube.com/embed/dt2EqXr84ks?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39252500/fed-meeting-preview-economists-predict-steady-rates-in-june-fewer-cuts-ahead">Fed Meeting Preview: Economists Predict Steady Rates In June, Fewer Cuts Ahead</a>
Photo: Shutterstock

REIT

ARRY

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UPST

WULF

Soft Inflation Data Boosts Small Caps, Real Estate, Regional Banks; Traders Anticipate Fed Rate Cuts As Stocks React

Wall Street is experiencing a quiet trading session on Monday, with major indices showing little movement by midday in New York, as traders maintain a cautious stance ahead of the highly anticipated inflation report and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39252500/fed-meeting-preview-economists-predict-steady-rates-in-june-fewer-cuts-ahead">Fed meeting this Wednesday.</a>
U.S. stocks have erased early session losses sparked by rising volatility in Europe after the latest Parliamentary elections revealed increased support for far-right parties and Emmanuel Macron&#8217;s surprising call for <a href="https://www.benzinga.com/markets/equities/24/06/39249718/macrons-snap-election-gamble-shocks-european-markets-euro-eyes-worst-2-day-performance-in-15-mon">snap elections in France.</a>
The S&amp;P 500 is 0.2% higher, while the tech-heavy Nasdaq 100 slightly outperforms the broader market, rising 0.3%.
Blue-chip stocks soften by 0.1%, while small caps trade mostly flat for the day.
Treasury yields inch higher by about 3 basis points across long-dated maturities, with the benchmark 10-year Note trading at a 4.47% yield. The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) falls 0.7%, eyeing its third straight session of declines.
A trade-weighted measure of the U.S. dollar, as tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), has risen by 0.2%, buoyed by the greenback&#8217;s gains against the euro, with the EUR-USD exchange rate down 0.4%.
Commodities trade stronger across the spectrum, with oil and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39254869/us-natural-gas-prices-rise-to-5-month-highs-on-hot-weather-forecasts-energy-stocks-">natural gas prices</a> rallying by 2.5% and 3.7%, respectively, driving the outperformance of energy-related stocks. Metals are also in the green, with copper, silver, and gold up 2.2%, 1.7%, and 0.7%, respectively. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is 0.4% higher, reaching $69,950.
<h3 class="wp-block-heading">Monday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,053.31</td>
<td>0.3%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,355.63</td>
<td>0.2%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,023.34</td>
<td>0.1%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>38,746.91</td>
<td>-0.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">As of 12:42 p.m. ET</figcaption></figure>
According to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;is 0.2% higher to $534.86.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;is flat at $388.21.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(ARCA: <a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a>QQQ) rises 0.4% to $465.35.</li>
<li>Sector-wise, the&nbsp;Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>)&nbsp;outperforms, up by 1.1%, while the&nbsp;Financials Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) eases 0.5%.</li>
<li>Industry-wise, the SPDR S&amp;P Oil &amp; Gas Exploration and Production ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOP#NYSE">XOP</a>) is the session top performer, up 2.2%, while the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) lags behind, down 1.7%. </li>
</ul>
<h3 class="wp-block-heading">Monday&#8217;s Stock Movers</h3>
<ul>
<li>Southwest Airlines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) has risen by nearly 8%, after Elliot Investment unveiled a $1.9 billion stake in the airline company. </li>
<li>Huntington Bancshares Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HBAN#NYSE">HBAN</a>) is down over 5%, after the company slashed its annual net interest income forecasts. </li>
<li>Texas Pacific Land Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPL#NYSE">TPL</a>) and RB Global Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBA#NYSE">RBA</a>) are up over 23% and 9%, respectively, on the news that they will be included in the S&amp;P MidCap 400 Index. </li>
<li>CrowdStrike Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>), KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) and GoDaddy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDDY#NYSE">GDDY</a>) have risen 9.6%, 11.3% and 2.1%, respectively, as Dow Jones Indices announces the companies&#8217; inclusions in the S&amp;P 500 index.</li>
<li>Tellurian Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TELL#NYSE">TELL</a>) rockets 13.5%, extending a 5-day rally that began last week following rumors of Saudi giant Aramco being in discussions with the company for a liquefied natural gas (LNG) project.</li>
<li>GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) has extended Friday&#8217;s losses following the Roaring Kitty&#8217;s livestream, down by an additional 15% on Monday, further cooling the meme-stock sentiment. AMC Entertainment Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) is 6% lower. </li>
<li>Shares of&nbsp;ICC Holdings, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICCH#NASDAQ">ICCH</a>) have gained over 35% after Mutual Capital Group announced plans to acquire&nbsp;the company. </li>
</ul>
Read now: <a href="https://www.benzinga.com/news/24/06/39245542/dont-miss-apples-wwdc-2024-keynote-how-and-where-to-watch-on-june-10">Don&#8217;t Miss Apple&#8217;s WWDC 2024 Keynote: How And Where To Watch On June 10</a>
Image generated using artificial intelligence via Midjourney.

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Eurozone

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Politics

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GDDY

HBAN

ICCH

TELL

Market Stays Flat As Investors Anticipate Key Economic Events; Energy Stocks Lead Gains, Regional Banks Decline: What's Driving Markets Monday?

Wall Street returned to reclaim record highs on Friday after a <a href="https://www.benzinga.com/news/large-cap/24/06/39225961/job-market-booms-in-may-payrolls-surge-more-than-expected-wages-increase">stronger-than-expected jobs report.</a>
In May, the increase in non-farm payrolls rose by 272,000 units, a jump from 165,000 and significantly higher than the economists&#8217; consensus of 180,000. Hourly wages also surprised on the upside (4.1% year-on-year versus 3.9%), while unemployment came in slightly higher than expected (4% vs. 3.9%).
The hotter-than-expected labor market data sparked a reassessment in rate-cut hopes, with traders closing the door on a July cut, lowering bets on September and currently expecting only one <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39230693/blowout-may-jobs-data-closes-the-door-on-a-july-rate-cut-6-economists-make-best-gue">cut by year-end.</a>
The move in rate expectations triggered sharp increases in bond yields, with Treasuries witnessing about a 10-basis-point rise in yields across maturities. This lead to sharp drops in fixed-income markets, with the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) down 1.8%.
Investors opted to look at the brighter side of the jobs report, as a stronger job market means a resilient economy, pushing back fears of a slowdown and thus reigniting the risk-assets rally. 
Both the S&amp;P 500 and the Nasdaq 100 index reached fresh all-time highs during the session. Blue chips were flat, while small caps tumbled 0.8%.
The U.S. dollar index (DXY), as tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), rallied 0.8%, eyeing its strongest session since late April.
The rising greenback generated heavy bearish pressure on commodities, with gold down 2.6% and silver plummeting nearly 6% on its worst day since February 2021. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was flat at $70,880.
<h1 class="wp-block-heading">Friday&#8217;s Performance On Major US Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,083.89</td>
<td>0.3%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,368.01</td>
<td>0.3%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>38,934.67</td>
<td>0.1%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,032.91</td>
<td>-0.8%</td>
</tr>
</tbody>
</table>
</figure>
According to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.3% higher to $536.27.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;was 0.2% up to $390.22.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(ARCA: <a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a>QQQ) rose 0.4% to $465.35.</li>
<li>Sector-wise, the&nbsp;Financials Staples Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>)&nbsp;outperformed, up by 0.8%, while the&nbsp;Materials Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>) lagged, down 0.8%.</li>
</ul>
<h1 class="wp-block-heading">Friday&#8217;s Stock Movers</h1>
<ul>
<li>GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) plummeted over 30% after missing quarterly results. The meme stock failed to rally minutes after Keith Gill — alias the &#8220;Roaring Kitty&#8221; — started his YouTube livestream.</li>
<li>AMC Entertainment Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) fell nearly 15%. </li>
<li>Mining-related stocks fell heavily with Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>), Agnico Eagle Mines Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEM#NYSE">AEM</a>) and Freeport-McMoRan Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) tumbling 5%, 6.9% and 4.5%, respectively.</li>
<li>Stocks reacting to earnings included Vail Resorts Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTN#NYSE">MTN</a>), down 12%, Samsara Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IOT#NYSE">IOT</a>), down 13%, DocuSign Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DOCU#NASDAQ">DOCU</a>), down 5% and Braze Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BRZE#NASDAQ">BRZE</a>) up 2%.</li>
</ul>
Read Now: <a href="https://www.benzinga.com/markets/equities/24/06/39231962/roaring-kitty-draws-600k-live-viewers-in-youtube-return-im-alive">Roaring Kitty Draws 600K Live Viewers In YouTube Return: &#8216;I&#8217;m Alive!&#8217; (UPDATED)</a>
Photo: Shutterstock

Emerging Markets

BRZE

DOCU

Stocks Reclaim Record Highs As Jobs Data Fuels Growth Optimism; Gold, Bonds Tumble As Yields Rise: What's Driving Markets Friday?

Wall Street rallied Wednesday as the services activity gauge indicated a stronger-than-expected expansion in May, pushing back fears of <a href="https://www.benzinga.com/topic/recession">an economic slowdown</a> which surfaced in recent days.
Sentiment among service providers marked the highest monthly growth since August 2023, driven by robust increases in business activity and new orders, according <a href="https://www.benzinga.com/economics/macro-economic-events/24/06/39186347/services-sector-activity-strongly-expands-in-may-notable-higher-business-activity">to the ISM survey.</a>
The Nasdaq 100 Index soared 1.6% to 18,940 points, marking a new all-time high for the tech-heavy benchmark. 
Tech giants and semiconductor stocks continue to drive broader market gains. The combined market value of the Magnificent Seven reached the $15 trillion milestone, while the iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) marked the strongest day in three months, as investor sentiment towards the AI narrative gained further strength.
The S&amp;P 500 Index rose 0.9% to 5,335 points, nearing record highs. Small caps also rallied by 1.2%, while blue chips flattened. 
Commodities rebounded following Tuesday&#8217;s declines, with gold, oil, and natural gas gaining 1.2%, 1.5%, and 5%, respectively.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was up 1.2%, eyeing its fifth straight session of gains, marking the longest positive streak since March.
In other news, the Bank of Canada cut interest rates by 25 basis points to 4.75%, as expected, indicating that monetary policy no longer needs to remain <a href="https://www.benzinga.com/markets/equities/24/06/39186394/bank-of-canada-cuts-rates-by-0-25-as-policy-no-longer-needs-to-be-restrictive-canadian-stocks-ra">restrictive as inflation slows. </a>
<h3 class="wp-block-heading">Chart Of The Day: Nasdaq 100 Roars Back To All-Time Highs</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="500" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/05130330/image-16-1024x500.png" alt="" class="wp-image-372887" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/05130330/image-16-1024x500.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/05130330/image-16-300x147.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/05130330/image-16-768x375.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/05130330/image-16-1536x750.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/05130330/image-16.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">Wednesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>18,961.83</td>
<td>1.6%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,063.35</td>
<td>1.2%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,337.96</td>
<td>0.9%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>38,726.34</td>
<td>0.0%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:00 p.m. ET</figcaption></figure>
According to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data: 
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.9% higher to $532.97.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 0.1% to $387.87.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(ARCA: <a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a>QQQ) rose 1.7% to $462.08</li>
<li>Sector-wise, the&nbsp;Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>)&nbsp;outperformed, up by 1.9%, while the&nbsp;Consumer Staples Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) lagged, down 0.5%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
<ul>
<li>Hewlett Packard Enterprise Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) rallied 13% in reaction to the company&#8217;s quarterly results. </li>
<li>Other stocks reacting to earnings were CrowdStrike Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>), up 10.4%, Dollar Tree Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>), down 4%, Brown Forman Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BF#NYSE">BF</a>), down 6%, Campbell Soup Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPB#NYSE">CPB</a>), up 0.3%, and Ollies Bargain Outlet Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OLLI#NASDAQ">OLLI</a>), up 10.6%. </li>
<li>Meme stocks including GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) and AMC Entertainment Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) rallied 12.4% and 7.6%, respectively. </li>
<li>Dutch chipmaker ASML Holding NV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) rallied over 9% on reports that the company is planning to deliver its latest high-NA extreme ultraviolet chipmaking machines to&nbsp;Taiwan Semiconductor Manufacturing Company Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>). </li>
<li>Other chipmakers showing large gains Wednesday included Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>), up 5.6%, Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), up 5%, Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) and Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>). </li>
</ul>
Read now: <a href="https://www.benzinga.com/top-stories/24/06/39189878/are-more-americans-looking-for-a-job-heres-what-the-next-employment-report-might-show">Are More Americans Looking For A Job? Here&#8217;s What The Next Employment Report Might Show</a>
Image generated using artificial intelligence via Midjourney.

Market Summary

ASML

DLTR

OLLI

Nasdaq 100 Reaches Record Highs, Service Sector Strength Alleviates Economic Slowdown Concerns, Magnificent 7 Hits $15 Trillion Valuation: What's Driving Markets Wednesday?

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RBC Capital Markets ranks each S&P sector

Biotech and Retail ETFs have the highest implied call return according to Goldman

So long as inflation is running hot or, in this case, warm, the basic materials sector are a smart move, like a hedge and profit play rolled into one.

Why Basic Materials Are The Smart Move Right Now

S&P 500 ends week above 5,800 for the first time ever on two-year anniversary of bull run

In this week's video, we'll review the latest charts and studies to help us answer the question in the stock market "Are you making things harder than they need to be?"

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