Materials Sector Punished (MXI)
Tweet
Share
E-mail
Material sector stocks, as measured by iShares S&P Global Materials ETF (NYSE: MXI), took more than their fair share of punishment as global equity markets slide on Monday. The ETF was down over 2 percent today and is down 4.4 percent in the past 5 days.
Data out of China last week showed the slowdown in Asia has yet to reach a bottom, and this could be part of the reason why stocks in this sector are unattractive. Headlines out of Europe helped spook investors, and analysts and traders are taking a serious look at how global growth might be affected.
Data affecting material stocks is expected to be light this week, so movements in the sector will likely be driven by headlines.
The top holdings in MXI are BHP Billiton LTD (NYSE: BHP), BASF SE (Xtera: Base.DE) , Rio Tinto PLC (NYSE: RIO), and BHP Billiton Plc (NYSE: BBL).
Data out of China last week showed the slowdown in Asia has yet to reach a bottom, and this could be part of the reason why stocks in this sector are unattractive. Headlines out of Europe helped spook investors, and analysts and traders are taking a serious look at how global growth might be affected.
Data affecting material stocks is expected to be light this week, so movements in the sector will likely be driven by headlines.
The top holdings in MXI are BHP Billiton LTD (NYSE: BHP), BASF SE (Xtera: Base.DE) , Rio Tinto PLC (NYSE: RIO), and BHP Billiton Plc (NYSE: BBL).
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Rio Tinto releases second quarter 2026 production results
- Guggenheim Reiterates Buy Rating on Netflix (NFLX)
- Citizens Starts XPO (XPO) at Market Perform
Create E-mail Alert Related Categories
ETFsRelated Entities
Standard & Poor'sSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
