Chart of the Week Archive
Materials Sector Leads Market Correction
After a strong start in 2010, Materials ETFs lead last week's market retreat.
The Materials Select Sector SPDR Fund (XLB) fell nearly 8% in last week's sell-off that saw the broader market decline nearly 5% in three days. XLB got off to a fast start in 2010, gaining 5% before the pull back.
Materials stocks are sensitive to growth in home building and China. Both market segments have seen prospects dim as the US tightened mortga
Continue Reading »Semiconductors Cool Off
After a strong finish in 2009, semiconductor stocks have pulled back in the first couple of trading weeks of the new year.
The iShares S&P North American Technology-Semiconductors Index Fund (IGW) is down nearly 5% since the beginning of 2010 compared to a plus 2% performance for the broader market.
Semiconductor stocks are coming off a hot year and strong finish to 2009. IGW is up 74% in the past 12 mo
Continue Reading »Steel Stays Strong
Steel stocks, on a steady upward trend since the March 2009 lows, have recently outpaced the broader market.
The Market Vectors Steel ETF (SLX) is up 34% since early November compared to a 10% gain for the broader market.
After bottoming in November, scrap steel prices are up 25% and look to increase by another 15% due to seasonal supply constraints, strong exports and low mill inventory levels according to a report by J.P.
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