ISM Data Puts Industrial and Material Stocks in the Dog House (XLI) (XLB)
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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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