Materials Sector Weekly Round-up Market Musings: Winners and Losers in Materials Sector (NYSEARCA:XLB)

By: Alex Freidmen

Gold Nuggets and Flakes in Pan

Photo: BanksPhotos

The Materials Select Sector SPDR Fund (NYSEARCA:XLB) fell by -0.5% this week, contributing to a -0.46% drop in the S&P 500 Materials sector.

Gold futures (XAUUSD:CUR) climbed to around $2,058.50/oz on Friday, marking the most substantial daily gain since mid-December, while March silver (XAGUSD:CUR) also surged by 3.1% to $23.41/oz.

Fears of an escalating conflict in the Middle East bolstered precious metals, prompting a surge in prices despite a stronger dollar and Treasury yields following slightly better than expected U.S. inflation data.

Copper futures (HG1:COM) had a positive week, with benchmark three-month copper (HG1:COM) on the London Metal Exchange up by +0.6% at $8,424/metric ton after sliding to a one-month low of $8,320 on Wednesday, as reported by Reuters.

Top gainers among basic material stocks ($2B market cap or more) this week included:

  • WD-40 Company (WDFC) +17.56%; Shares surged on the back of impressive Q1 results.
  • Osisko gold royalties (OR) +7.65%
  • Eldorado Gold (EGO) +7.61%
  • Gold Fields (GFI) +5.16%
  • Kinross Gold (KGC) +4.62

Meanwhile, the top losers among basic material stocks were:

  • Sigma Lithium (SGML) -12.61%
  • Sociedad Quimica y Minera de Chile (SQM) -9.77%
  • Nutrien (NTR) -7.83%
  • Gerdau (GGB) -7.74%
  • Mosaic (MOS) -6.48%

In addition, other materials ETFs to keep an eye on include: iShares Global Timber & Forestry ETF (WOOD), Materials Select Sector SPDR ETF, Vanguard Materials ETF (VAW), iShares Global Materials ETF (MXI), SPDR S&P Metals and Mining ETF (XME), VanEck Vectors Gold Miners ETF (GDX), iShares MSCI Global Gold Miners ETF (RING), and Global X Copper Miners ETF (COPX).

Insights into Materials Select Sector SPDR ETF

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