ISM Data Puts Industrial and Material Stocks in the Dog House (XLI) (XLB)
Industrial sector stocks are trading lower today after ISM data showed that manufacturing in the U.S. contracted in June. Industrial Select Sector SPDR (NYSE: XLI) is lower by 1.23 percent in a relatively thin and flat market on Monday.
Shares of Caterpillar Inc. (NYSE: CAT) and Boeing (NYSE: BA) are leading the group lower. Weakening growth in China is also dragging down stocks in the sector, especially CAT.
Materials stocks are also taking heat today, with DuPont (NYSE: DD) shares trading lower by 3.3 percent intraday on Monday. The materials sector ETF, Materials Select Sector SPDR (NYSE: XLB), is down by 1.25 percent.
Shares of Caterpillar Inc. (NYSE: CAT) and Boeing (NYSE: BA) are leading the group lower. Weakening growth in China is also dragging down stocks in the sector, especially CAT.
Materials stocks are also taking heat today, with DuPont (NYSE: DD) shares trading lower by 3.3 percent intraday on Monday. The materials sector ETF, Materials Select Sector SPDR (NYSE: XLB), is down by 1.25 percent.
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