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In seeking to track the performance of the S&P Metals & Mining Select Industry Index (the index), the fund employs a sampling strategy. It generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index represents the metals and mining segment of the S&P Total Market Index (S&P TMI). The fund is non-diversified.

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금요일은 최근 몇 년 동안 금속 원자재 가격이 가장 강한 날 중 하나가 될 것으로 예상된다. 금은 1.7% 이상 상승해 온스당 2,400달러를 넘어 사상 최고치를 기록했고, 은은 6% 이상 급등해 2013년 2월 이후 최고치까지 올랐으며, 구리는 사상 최고치를 기록했다.

은 가격은 11년 만에 최고치, 금과 구리는 사상 최고점 기록: 광산 주식 급등

Xemex Group Inc

XMet Inc

Commercial Metals Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) shares are trading higher after the company reported third-quarter FY24 net sales of $2.078 billion,&nbsp;beating <a target="_blank" href="https://www.benzinga.com/pressreleases/24/06/n39407376/cmc-reports-third-quarter-fiscal-2024-results" rel="noreferrer noopener">the consensus of $2.034 billion</a>.
The company stated that fundamentals remain strong in North American markets, supporting stable to modestly improving steel product margins, healthy shipment levels, and steady downstream backlog volumes.
Commercial Metals reported that the Europe Steel Group achieved nearly breakeven performance on an adjusted EBITDA basis in the third quarter. Market conditions remained stable compared to the previous quarter, with slight increases in finished steel pricing and product margins.
The Europe Steel Group&#8217;s average selling price increased by $8 per ton from the second quarter of fiscal 2024.
Core EBITDA decreased to&nbsp;$256.1 million from $384.5 million in the prior year quarter, with a core EBITDA margin of 12.3%.
Adjusted EPS was $1.02,<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener"> which is in line with the consensus.</a>
As of February 29, 2024, cash and cash equivalents totaled $698.3 million, with available liquidity of about&nbsp;$1.5 billion.
The company&#8217;s net cash flows from operating activities for the first nine months totaled $547.9 million.
In the quarter, CMC repurchased stock worth $51.8 million. As of May-end, $458.6 million shares remained available under the current share repurchase authorization.
Dividend: On June 19, 2024, the board declared a quarterly dividend of $0.18 per share (+13% Y/Y), payable on July 10, to <a target="_blank" href="https://www.benzinga.com/pressreleases/24/06/n39397675/cmc-announces-quarterly-dividend-of-0-18-per-share" rel="noreferrer noopener">stockholders of record on July 1</a>.
Peter Matt, President and Chief Executive Officer, stated, &#8220;We expect consolidated financial results in our fiscal fourth quarter to be consistent with third quarter levels.  Finished steel shipments within the North America Steel Group are anticipated to be flat on a sequential basis, while adjusted EBITDA margin should remain relatively stable.&#8221;
&#8220;Adjusted EBITDA for our Europe Steel Group is likely to continue the quarter-to-quarter improvement trend despite market conditions that are expected to remain challenging.  Financial results for the Emerging Businesses Group should improve modestly, driven by steady underlying market <a href="https://www.benzinga.com/calendars/guidance" target="_blank" rel="noreferrer noopener">fundamentals and a healthy order book</a>.&#8221;
Investors can gain exposure to the stock via VanEck Steel ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLX#NYSE">SLX</a>) and SPDR S&amp;P Metals &amp; Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>).
Price Action: CMC shares are up 5.85% at $53.71 at the last check Thursday.

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Why Commercial Metals Shares Are Surging Today

Friday is shaping up to be one of the strongest days for metal commodities in recent years. Gold climbed over 1.7% toward a record-high close above $2,400 per ounce, silver surged more than 6% to its highest level since February 2013, and copper hit <a href="https://www.benzinga.com/topic/mining">an all-time high.</a>
What Happened: In a week marked by diminishing inflation fears, the case for Federal Reserve rate cuts strengthened. Additionally, news of a broad-based Chinese stimulus to support the struggling real estate sector sent metal commodities skyrocketing. Beijing announced measures such as reducing down payments for homebuyers and a state-financed package to convert unsold<a href="https://www.benzinga.com/markets/asia/24/05/38895805/china-goes-all-in-as-beijing-vows-to-buy-unsold-properties-chinese-stocks-rally-copper-hits-all-time"> properties into social housing.</a>
Copper, extremely sensitive to China&#8217;s economic health as the country is the top purchaser of the red metal, rallied 4% to above $5 a pound. This surge marked a fresh weekly all-time high and its strongest day since November 2022.
Precious metals like silver and gold positively reacted to both interest-rate and Chinese-related developments. Silver spiked above $30, breaking out of a triple-top resistance pattern.
Chart: Copper Hits All-Time High
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17151239/image-75-1024x495.png" alt="" class="wp-image-344275" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17151239/image-75-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17151239/image-75-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17151239/image-75-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17151239/image-75-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17151239/image-75.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">Expert Insights on Metal Commodities</h3>
According to Otavio Costa, macro strategist at Crescat Capital, central banks are &#8220;acquiring gold to enhance the quality of their international reserves and thereby strengthen the credibility of their monetary systems.&#8221; 
He highlighted that unlike many investors and traders, central banks have a long-term perspective, meaning that &#8220;the accumulation of gold by these institutions is just beginning.&#8221;
According to analysts at Goldman Sachs, copper remains a focus amid an ongoing short squeeze that has sent futures to record highs. The investment bank maintains a positive outlook on copper, citing the market&#8217;s structural deficit and forecasting a 20% increase from current levels.
Jeff Currie, former Goldman Sachs commodities strategist and now chief strategy officer of energy pathways at Carlyle Group, stated in a Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-05-17/jeff-currie-says-copper-is-the-best-trade-he-s-seen-in-his-career?sref=TBDibEcD">interview </a>that the red mental still has more room to run, emphasizing copper&#8217;s importance in powering electric vehicles, updated grids and AI data centers.
Chart: Silver Notches Best-Performing Week Since August 2020
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17152107/image-76-1024x495.png" alt="" class="wp-image-344292" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17152107/image-76-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17152107/image-76-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17152107/image-76-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17152107/image-76-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17152107/image-76.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">Mining Stocks Surge</h3>
The rally in metal commodities fueled broad-based gains on mining stocks. 
<ul>
<li>The SPDR S&amp;P Metals &amp; Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>) rose 1.8% reaching April 2022 highs. Coeur Mining, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CDE#NYSE">CDE</a>) and Hecla Mining Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HL#NYSE">HL</a>) were the top gainers among miners, both up by 11%. </li>
</ul>
<ul>
<li>The Global X Copper Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COPX#NYSE">COPX</a>) skyrocketed 4.3%, hitting a record high since the fund&#8217;s inception in 2010. Taseko Mines Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGB#NYSE">TGB</a>), Ero Copper Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ERO#NYSE">ERO</a>), and First Quantum Minerals Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FM#NYSE">FM</a>) were the fund&#8217;s top performers, up 7.3%, 6.8% and 6.6%, respectively</li>
</ul>
<ul>
<li>The Global X Silver Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIL#NYSE">SIL</a>) rose 5%, reaching April 2022 highs. Besides Coeur Mining and Hecla Mining Company, Endeavour Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXK#NYSE">EXK</a>) also performed strongly, up 10%. </li>
</ul>
<ul>
<li>The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) surged 3%, also reaching April 2022 highs, with New Gold Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NGD#NYSE">NGD</a>) topping the performance among gold miners, up nearly 12%.</li>
</ul>
Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38894659/bank-of-americas-contrarian-guru-unveils-best-portfolio-hedge-against-hard-landing-">Bank Of America&#8217;s Contrarian Guru Unveils Best Portfolio Hedge Against Hard Landing: &#8216;No One Is Long&#8217;</a>
Photo: Shutterstock

Silver Rockets To 11-Year Highs, Copper Hits Record Peak, Gold Approaches Historic Close: Mining Stocks' Wild Ride

Alcoa Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>) gets a price target bump from a couple of analysts following better-than-expected&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/AA/analyst-ratings" rel="noreferrer noopener">first-quarter FY24 results</a>.
Yesterday, the company reported an EPS loss of $(0.81), which beat the consensus loss of $(0.55) and revenue of $2.60 billion, beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38302798/alcoa-stock-climbs-on-q1-results-heres-why" rel="noreferrer noopener">consensus estimate of $2.56 billion</a>.
Alcoa expects alumina production to be 9.8 million and 10 million metric tons and alumina shipments to be 12.7 million and&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">12.9 million metric tons for FY24</a>.
BMO Capital Markets&nbsp;analyst Katja Jancic raised the price target to $37 (from $35) and maintained the Market Perform rating.
The analyst says Alcoa is well-positioned to benefit from the positive aluminum price momentum and continued multiple actions to deliver profitability improvements over time.
Also, Jancic continues to project that the acquisition of the remaining 40% of Alcoa World Alumina &amp; Chemicals (AWAC) is expected to be beneficial in the longer term, given higher economic interest and simplified structure/greater flexibility.
Last month, Alcoa inked a binding Scheme Implementation Deed to acquire&nbsp;Alumina Limited&nbsp;Alumina Stock&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/AWCMF#OTC">AWCMF</a>) for $2.2 billion in&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/03/37611427/alcoa-seals-2-2b-deal-to-acquire-alumina-limited-amplifying-market-presence" rel="noreferrer noopener">an all-scrip, or all-stock, transaction</a>.&nbsp;
Consequently, the analyst estimates EPS of $(0.64) vs. $(0.79) earlier in FY24 and $1.43 (vs $1.61 prior) for FY25.
Also,&nbsp;Jefferies&nbsp;increased the price target to $48 (from $45) and reiterated a Buy rating.
Meanwhile,&nbsp;J.P.Morgan&nbsp;analyst Bill Peterson writes that Aluminum demand continues to improve across markets (ex, Europe construction), which supports firming prices and improved profitability despite ongoing challenges at Warrick, Alumar, and San Ciprian mines.
The analyst estimates an EPS loss of $(1.17) (vs. $0.35 earlier) for FY24 and $2.59 (vs. $3.10 prior) for FY25.
Also, the analyst cut the second-quarter FY24 EBITDA to $245 million (vs. prior $272 million), but expects guided headwinds can be more than offset by improved pricing in both segments (alumina/aluminum +4%/+11% QTD), driving higher earnings Q/Q.&nbsp;
Also, Peterson cut the EBITDA to $1.0 billion (from $1.1 billion) for 2024.
Investors can gain exposure to the stock via&nbsp;SPDR S&amp;P Metals &amp; Mining ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>) and&nbsp;Macquarie ETF Trust Macquarie Energy Transition ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PWER#NYSE">PWER</a>).
Price Action: AA shares are down 0.19% at $35.49 on the last check Thursday.
Photo via Wikimedia Commons

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AWCMF

PWER

Alcoa Well-Positioned To Benefit From Positive Pricing Momentum, Analyst Says

On CNBC&rsquo;s &quot;<a href="https://www.cnbc.com/video/2024/04/16/final-trades-applovin-freeport-mcmoran-and-cvs-health.html">Halftime Report Final Trades</a>,&quot; Joshua Brown of Ritholtz Wealth Management said AppLovin Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/app#NASDAQ">APP</a>) is the number one performing <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38190730/josh-brown-is-ready-to-buy-the-best-performing-stock-in-the-russell-1000-they-make-tons-"> large cap stock of the year so far.</a>
On April 16, Morgan Stanley analyst Matthew Cost maintained AppLovin with an Equal-Weight rating and raised the price target from $55 to $70.
Stephanie Link of Hightower said she likes Freeport-McMoRan Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fcx#NYSE">FCX</a>) amid recovery in China.
On April 9, BofA Securities analyst Lawson Winder upgraded Freeport-McMoRan from Neutral to Buy and announced a $59 price target, while Scotiabank analyst Orest Wowkodaw maintained the stock with a Sector Outperform and raised the price target from $48 to $55.
Freeport-McMoRan is a top holding in the broader SPDR S&amp;P Metals &amp; Mining ETF (ARCA: XME).
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
Jim Lebenthal of Cerity Partners named CVS Health Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cvs#NYSE">CVS</a>), which is set to report quarterly earnings soon.
CVS Health is scheduled to hold a conference call with analysts and investors on May 1 to discuss first quarter 2024 financial results. Analysts expect the company to report quarterly earnings at $1.71 per share, down from $2.2 per share in the year-ago period. The company is projected to post quarterly revenue of $89.21 billion, up from $80.81 billion in the year-earlier quarter.
<h3>Price Action:</h3>
<ul>
<li>AppLovin shares rose 1.3% to close at $72.32 on Tuesday.</li>
<li>Freeport-McMoRan shares fell 1.2% to settle at $49.41 on Tuesday.</li>
<li>CVS Health shares rose 0.1% to close at $69.03 during Tuesday&rsquo;s session.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/04/38284954/abbott-laboratories-u-s-bancorp-and-3-stocks-to-watch-heading-into-wednesday"> Abbott Laboratories, U.S. Bancorp And 3 Stocks To Watch Heading Into Wednesday </a>

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Markets

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Freeport-McMoRan, AppLovin And A Major Healthcare Stock On CNBC's 'Final Trades'

Piedmont Lithium Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLL#NASDAQ">PLL</a>) shares are trading higher after it announced that it received mining permit approval for the construction, operation, and reclamation of the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/b38244622/piedmont-lithium-receives-mining-permit-approval-for-carolina-lithium" rel="noreferrer noopener">proposed Carolina Lithium project</a>.
In particular, the company disclosed that the North Carolina Department of Environmental Quality&#8217;s (NCDEQ) Division of Energy, Mineral, and Land Resources (DEMLR) issued an approval of the mining permit for the construction, operation, and reclamation of the proposed Carolina Lithium project in Gaston County, North Carolina.&nbsp;
The project is located within both the Carolina Tin-Spodumene Belt and the U.S. Battery Belt and is being designed as a fully integrated mining, spodumene concentrate, and lithium hydroxide manufacturing operation.&nbsp;
DEMLR provided the permit approval following a thorough review of the application submitted by Piedmont on August 30, 2021.&nbsp;
Keith Phillips, President and CEO, said, &#8220;We plan to develop Carolina Lithium as one of the lowest-cost, most sustainable lithium hydroxide operations in the world, and as a critical part of the American electric vehicle supply chain. The Project is expected to contribute billions of dollars of economic output and several hundred jobs to Gaston County and North Carolina&#8217;s growing electrification economy.&#8221;
&#8220;Technical studies have demonstrated that Carolina Lithium could be a low-cost producer of spodumene concentrate and lithium hydroxide, benefitting from exceptional infrastructure, minimal transportation distances, low energy costs, a deep local talent pool, and proximity to cathode and battery customers as well as local markets for the monetization of by-product industrial minerals.&#8221;&nbsp;
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/23/08/33894288/piedmont-reveals-development-funding-for-ewoyaa-lithium-project" rel="noreferrer noopener">Piedmont Reveals Development Funding For Ewoyaa Lithium Project</a>
&#8220;The Project is further advantaged by the competitive corporate tax regime offered in the United States, the absence of significant royalties, and the benefits inherent in the Inflation Reduction Act of 2022.&#8221;
Investors can gain exposure to the stock via&nbsp;IShares Lithium Miners And Producers ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILIT#NASDAQ">ILIT</a>) and&nbsp;SPDR S&amp;P Metals &amp; Mining ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>).
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/commodities/24/04/38173771/piedmont-advances-nal-operations-royal-gold-subsidiary-sells-49-500-geos-hecla-mining-reports" rel="noreferrer noopener">Piedmont Advances NAL Operations; Royal Gold Subsidiary Sells 49,500 GEOs; Hecla Mining Reports Q1 Production And More: Tuesday&#8217;s Top Mining Stories</a>
Price Action: PLL shares are up 21.8% at $15.45 on the last check Monday.
Photo via Shutterstock

Small Cap

ILIT

Why Piedmont Lithium Shares Are Surging Today

Radius Recycling, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDUS#NASDAQ">RDUS</a>) shares are trading lower after it reported <a href="https://www.benzinga.com/pressreleases/24/04/g38088365/radius-recycling-reports-second-quarter-fiscal-2024-financial-results" target="_blank" rel="noreferrer noopener">second-quarter (Q2) financial results for 2024</a>.
Revenue stood at $621.06 million, beating the consensus of $626.15 million.
Gross margin declined to $40 million from $73 million a year ago, and adjusted EBITDA decreased to $3 million, compared to $32 million a year ago.
Ferrous sales volumes (LT, in thousands) decreased to 980 from 1,263 a year ago; adjusted EBITDA per ferrous ton sold ($/LT) was $3 compared to $25 in the prior-year quarter.
Avg. net ferrous sales prices ($/LT) rose to $384 from $367 in Q2 FY23. Finished steel average net sales price ($/ST) came in at $832 (vs. 943 a year ago), and sales volumes (ST, in thousands) of 114 (vs. 109 in the comparable period).
Finished steel sales volumes increased on the continued strength of non-residential and infrastructure demand in the Western U.S.
Adjusted loss per share: $1.04, beating the <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">consensus of $1.09</a>.
Radius implemented a plan to deliver $40 million in annual benefits by reducing selling, general, and administrative expenses by 10%.
Radius CEO Tamara Lundgren says &#8220;near-term market conditions for recycled metals are challenging&#8221; amid cyclical headwinds. The plan is to position Radius &#8220;to benefit from an improvement in market conditions and positive structural demand tailwinds.&#8221;     
&#8220;Scrap supply flows should benefit from a decline in U.S. interest rates and a recovery in global manufacturing activity. Additionally, the long-term structural demand for recycled metals remains positive, supported by the increased focus on decarbonization, the transition to low-carbon technologies, and the anticipated demand associated with the Infrastructure Investment and Jobs Act and the Inflation Reduction Act, including Buy Clean provisions.&#8221;&nbsp;&nbsp;
Dividend: The board declared a cash dividend per share of $0.1875. It&#8217;s payable on May 6 to shareholders of record as of April 22, 2024.
Investors can gain exposure to the stock via two ETFs. They are VanEck Environmental Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVX#NYSE">EVX</a>) and SPDR S&amp;P Metals &amp; Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>).
Price Action:&nbsp;RDUS shares are trading lower by 6.95% at $18.75 on the last check Thursday.

Dividends

Market Vectors Environmental Services Index Fund

RDUS

Why Radius Recycling Shares Are Trading Lower Today

Iron ore prices were boosted by hopes of an industrial recovery in China following data that showed improving activity in the country&#8217;s manufacturing sector.
Singapore iron ore 58% futures rose 3.8% on Monday, reversing earlier losses that took the prices nearly 4% lower, while futures on the Dalian exchange in China ended 3.8% higher. However, iron ore futures on the Chicago Mercantile Exchange (CME) fell 0.3%. 
The catalyst for the gains in Asia appeared to be data from the latest purchasing manager index (PMI) survey on <a href="https://www.benzinga.com/markets/asia/24/04/38021682/chinas-march-manufacturing-growth-could-dump-into-global-markets-thus-triggering-deflation-expert-wa">China&#8217;s manufacturing sector</a> that showed further improvement in economic activity during the first quarter.
This was driven by greater inflows of new work, including from overseas, which helped increase production and levels of purchasing of raw materials. The March Caixin PMI rose to 51.1, up from 50.9 in the previous month, and marked the fifth-successive monthly improvement.
Dr. Wang Zhe, senior economist at Caixin Insight Group, said: &#8220;Overall, the manufacturing sector continued to improve in March, with expansion in supply and demand accelerating, and overseas demand picking up. 
&#8220;Manufacturers increased purchases and raw material inventories amid continued improvement in business optimism.&#8221;
Also Read: <a href="https://www.benzinga.com/markets/asia/24/04/38021682/chinas-march-manufacturing-growth-could-dump-into-global-markets-thus-triggering-deflation-expert-wa">China&#8217;s March Manufacturing Growth Could &#8216;Dump Into Global Markets, Thus Triggering Deflation&#8217;</a>
<h1 class="wp-block-heading">Construction: Thorn In The Side For Steel Producers</h1>
That said, construction — a key industry for the demand dynamics of steel products — remains subdued, with China still facing a sharp slowdown in the property sector.
Meanwhile, the inventory of steel in Chinese ports was at its highest level in more than a year, according to <a href="https://www.bloomberg.com/news/articles/2024-04-01/iron-ore-sinks-to-10-month-low-on-gloom-over-china-construction?srnd=homepage-americas&amp;sref=TBDibEcD">data</a> by Bloomberg, with around 143 tons in reserve.
This was reflected by the sharp losses seen for iron ore in recent months. Singapore futures were down 20% since the start of 2024, while CME futures were down 19.7% since the start of the year.
This was also knocked-on to the iron ore miners and steel refiners, and the exchange-traded funds that hold their stocks.
The VanEck Steel ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLX#NYSE">SLX</a>), was up 0.4% on Monday but is down 1.3% in 2024. Its top two holdings are Rio Tinto (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) and Vale (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VALE#NYSE">VALE</a>). Rio was up 0.7% on Monday, but remained 13.8% lower in 2024, while Vale fell 0.9% on Monday, and was down 24% on the year.
The broader SPDR S&amp;P Metals &amp; Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>) was up 0.9% on Monday and up 1.23 in 2024. Its top two holdings are Freeport McMoRan Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) and Steel Dynamics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>). 
Freeport specializes in copper and gold, which — <a href="https://www.benzinga.com/topic/gold">particularly gold</a> — have performed relatively well this year, was up 1.3% on Monday and is up 11.7% in 2024. Steel Dynamics was up 1.2% on Monday and is up 27 on the year.
Read Now: <a href="https://www.benzinga.com/markets/equities/24/04/38025851/turkish-stock-markets-welcome-change-will-erdo-an-defeat-prompt-economic-reforms">Turkish Stock Markets Welcome Change: Will Erdoğan Defeat Prompt Economic Reforms?</a>
Photo: Shutterstock

Large Cap

Global

General

STLD

VALE

Miners Cheer As China's Manufacturers Continue To Increase Pace

U.S. lawmakers are poised to introduce a bill on Tuesday that seeks to amplify the nation&#8217;s involvement in deep-sea mining, marking a significant step towards diminishing China&#8217;s dominance <a href="https://www.benzinga.com/etfs/23/07/33233340/rare-earth-elements-explained">over critical mineral supplies.</a>
The initiative, as reported by <a href="https://www.wsj.com/articles/u-s-lawmakers-to-push-for-deep-sea-mining-funding-in-new-bill-cc020f7d">The Wall Street Journal</a>, underscores a strategic shift towards tapping into the ocean&#8217;s mineral wealth and boosting country&#8217;s independence on these key resources as an alternative to reliance on foreign entities. 
Aiming for Strategic Independence: Dubbed the Responsible Use of Seafloor Resources Act of 2024, the proposed legislation, spearheaded by Rep. Carol Miller (R., W.Va.) and Rep. John Joyce (R., Pa.), is designed to provide a robust framework for American engagement in deep-sea mining. This includes a comprehensive package of financial, diplomatic, and infrastructural support aimed at bolstering the collection, processing, and refining of seafloor nodules—rich in essential minerals such as nickel, manganese, and cobalt, vital for electric-vehicle batteries and defense technologies.
Reducing Dependency On China: China&#8217;s current stronghold on the global critical mineral market is significant, with the nation controlling approximately 60% of global critical mineral production and over 85% of the refining capacity. The new bill aims to confront this challenge head-on by encouraging the development of alternative supply sources and reducing U.S. dependency on adversarial nations for critical minerals.
Rep. Miller stressed the importance of the legislation, noting its critical role in lessening America&#8217;s reliance on China for essential minerals. She pointed out that the Responsible Use of Seafloor Resources Act aims to diminish supply chain vulnerabilities, enhance American manufacturing and employment, and counteract China&#8217;s dominance in the production of critical minerals.
Balancing Economic Interests And Environmental Concerns: While the bill presents a forward-looking approach to securing mineral independence, it also acknowledges the environmental concerns associated with deep-sea mining. 
Organizations like Greenpeace have voiced opposition, citing potential irreversible harm to marine ecosystems. In response, the proposed legislation includes directives for the Commerce Department and the White House Office of Science and Technology Policy to conduct comprehensive reports and analyses.
The SPDR Metals &amp; Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>) traded 1.5% lower Tuesday, reacting to a higher-than-expected inflation data. 
Read Now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37627788/inflation-tops-forecasts-in-february-as-stocks-rally-7-economists-react">Inflation Tops Forecasts In February &#8211; &#8216;I Think Powell Will Be Upset&#8217;: 7 Economists React</a>

Asia

US Lawmakers Mull Bill To Support Deep-Sea Mining Aimed At Challenging China's Grip On Critical Minerals

On Thursday, Wall Street rebounded into positive territory, following a brief dip experienced on Wednesday. At midday trading New York time, all major stock indices were trading in the green as traders prepared for the final trading<a href="https://www.benzinga.com/markets"> week of the year.</a>
The S&amp;P 500 made a modest 0.3% gain, but its equal-weighted counterpart, the Invesco S&amp;P 500 Equal Weight ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RSP#NYSE">RSP</a>), outperformed with a 0.5% increase. The Dow also edged up by 0.3%.
Tech stocks within the Nasdaq 100 surged by 0.5%, while small-cap stocks continued to outperform, with the Russell 2000 gaining 1%.
Long-term bond yields saw a slight increase, with the popular iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) declining by 0.6%.
The U.S. dollar, as monitored through the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), fell by 0.4%, revisiting its yearly lows, in response to <a href="https://www.benzinga.com/economics/macro-economic-events/23/12/36342747/thursdays-economic-digest-q3-gdp-revised-downward-jobless-claims-hold-steady-phil">weaker-than-expected economic data</a>. The U.S. economy expanded at an annualized rate of 4.9% in the third quarter, down from the previous estimate of a 5.2% increase.
Gold, tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), saw a 0.5% surge, while silver gained 0.8% in reaction to the weakening dollar. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) remained stable.
<h2 class="wp-block-heading">Thursday&#8217;s Performance In US Major Indices, ETFs</h2>
<figure class="wp-block-table"> 
<table>
<thead>
<tr>
<th>Index</th>
<th>Price</th>
<th>Percentage Change (%)</th>
</tr>
</thead>
<tbody>
<tr>
<td>Russell 2000</td>
<td>2,000.71</td>
<td>1.0%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>16,637.75</td>
<td>0.5%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>4,715.85</td>
<td>0.3%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>37,197.33</td>
<td>0.3%</td>
</tr>
</tbody>
</table>
</figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was 0.4% higher to $469.90, the SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) was 0.3% higher to $372.01 and the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) inched up 0.6% to $405.34, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a>
Sector-wise, discretionary outperformed, with the Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) up 0.8%. On the negative side, the Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>) and the Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) were both 0.3% lower. 
Among industries, solar and semiconductors were notable gainers, with the Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) and the VanEck Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NYSE">SMH</a>) up 3.9% and 2%, respectively. REITs lagged, with the Vanguard Real Estate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNQ#NYSE">VNQ</a>) down 1%. 
<h2 class="wp-block-heading">Thursday&#8217;s Stock Movers</h2>
<ul>
<li>Carnival Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) rose 6.4%, as the company reported better-than-expected earnings and revenue in the last quarter.</li>
<li>Shares of other cruise companies also experienced a surge. Royal Caribbean Cruises Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>) shares climbed almost 4%, while Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) saw a 5% increase.</li>
<li>Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) rose over 7% after posting better-than-expected results last quarter. In response, other chipmakers also gained. Shares of Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) rose over 2.5%, while Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) inched up 1%. </li>
<li>MP Materials Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MP#NYSE">MP</a>) rocketed 9%, topping the Russell 1000&#8217;s gainers. </li>
<li>Paychex Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>) tumbled over 6% after missing earnings estimate. </li>
<li>Warner Bros Discovery Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) and Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) fell 4% and 3.4%, respectively, after Ben Barringer, a technology analyst at Quilter Cheviot, stated the merger between these two companies will likely worsen their financial profile. </li>
</ul>
Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/12/36346989/micron-technology-guidance-reflects-strong-pricing-rebound-10-analysts-deep-dive-in">Micron Technology Guidance Reflects Strong Pricing Rebound: 10 Analysts Deep Dive Into Q1 Earnings</a>
 Photo via Shutterstock.

Broad U.S. Equity ETFs

Tech

$BTC

SPDR Dow Jones Industrial Average ETF Trust

NCLH

NVDA

PARA

PAYX

Rydex ETF Trust Rydex S&P Equal Weight ETF

iShares Trust Barclays 20+ Year Treasury Bond Fund

PowerShares DB US Dollar Index Bullish Fund

Select Sector SPDR-Consumer Discretionary

US Stocks Bounce; Chipmakers, Cruise Lines Lead, Dollar Falls: What's Driving Markets Thursday?

Stocks inched higher during midday trading in New York on Wednesday, with the momentum carrying over from the previous day when the tech-heavy Nasdaq 100 <a href="https://www.benzinga.com/news/large-cap/23/12/36305091/nasdaq-100-hits-record-high-set-for-best-annual-performance-since-1999-tech-boom">achieved fresh record highs.</a>
The percentage of S&amp;P 500 stocks trading above the 50-day moving average has surged to 90%, reaching its peak for the year.
Small-cap stocks, as tracked by the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>), continue to outperform large-cap counterparts, boosting their month-to-date performance to 12.5%, the strongest since November 2020.
Treasury yields remained relatively stable, with the 10-year yield at 3.9% and the 30-year yield hovering around 4%. The dollar has seen a 0.2% increase.
Among commodities, gold dipped by 0.4%, while silver gained 1%. WTI crude oil remained flat at $74.
The standout performer of the day is Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), which saw a 3.5% increase. James Seyffart, an ETF research analyst at Bloomberg Intelligence, reported BlackRock updated its S-1 filing with the SEC.
Chart of The Day: 90% Of S&amp;P 500 Stocks Above 50-Day Average
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/20134829/S5FI_2023-12-20_18-48-13_6d186-1024x495.png" alt="" class="wp-image-165825" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/20134829/S5FI_2023-12-20_18-48-13_6d186-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/20134829/S5FI_2023-12-20_18-48-13_6d186-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/20134829/S5FI_2023-12-20_18-48-13_6d186-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/20134829/S5FI_2023-12-20_18-48-13_6d186-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/20134829/S5FI_2023-12-20_18-48-13_6d186.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h2 class="wp-block-heading">Wednesday Performance In Major US Indices, ETFs</h2>
<figure class="wp-block-table"> 
<table>
<thead>
<tr>
<th>Major Indices &amp; ETFs</th>
<th>Price</th>
<th>% Change</th>
</tr>
</thead>
<tbody>
<tr>
<td>Russell 2000</td>
<td>2,038.78</td>
<td>0.9%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>37,642.65</td>
<td>0.2%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>16,839.46</td>
<td>0.2%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>4,775.07</td>
<td>0.1%</td>
</tr>
</tbody>
</table>
</figure>
The SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was 0.1% higher to&nbsp;$475.53, the SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) was 0.2% higher to $376.20&nbsp;and&nbsp;the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) inched 0.2% up to $409.80, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a>
Sector-wise, the Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>) and the Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) outperformed, both up 0.8%. Staples, as tracked by the Consumer Staples Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) lagged behind, down 0.9%. 
Among industries, miners and oil and gas, as tracked by the SPDR Metal and Mining (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>) and the VanEck Oil Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OIH#NYSE">OIH</a>), outperformed, up 1%. The iShares Biotechnology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBB#NYSE">IBB</a>) was the underperformer, down 1%. 
<figure class="wp-block-table"> 
<table>
<thead>
<tr>
<th>S&amp;P Sector ETFs</th>
<th>% Change</th>
</tr>
</thead>
<tbody>
<tr>
<td>Energy</td>
<td>+0.9%</td>
</tr>
<tr>
<td>Communications</td>
<td>+0.8%</td>
</tr>
<tr>
<td>Real Estate</td>
<td>+0.4%</td>
</tr>
<tr>
<td>Technology</td>
<td>+0.2%</td>
</tr>
<tr>
<td>Consumer Discretionary</td>
<td>+0.1%</td>
</tr>
<tr>
<td>Industrials</td>
<td>+0.1%</td>
</tr>
<tr>
<td>Health Care</td>
<td>0.0%</td>
</tr>
<tr>
<td>Materials</td>
<td>-0.1%</td>
</tr>
<tr>
<td>Financials</td>
<td>-0.1%</td>
</tr>
<tr>
<td>Utilities</td>
<td>-0.4%</td>
</tr>
<tr>
<td>Consumer Staples</td>
<td>-0.9%</td>
</tr>
</tbody>
</table>
</figure>
<h2 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h2>
<ul>
<li>The Toro Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTC#NYSE">TTC</a>) rose 9% on better-than-expected quarterly results. </li>
<li>FedEx Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) fell over 10% on disappointing quarterly results. </li>
<li>DXC Technology Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DXC#NYSE">DXC</a>) traded over 8% lower after the company disclosed a management change. </li>
<li>Exact Sciences Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXAS#NASDAQ">EXAS</a>) rose by 4% after surging by 7.5% a day earlier, after Guggenheim initiated coverage on Exact Sciences with a Buy rating and announced a price target of $90. </li>
<li>Aon plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AON#NYSE">AON</a>) tumbled 6% after the company announced a deal to buy property and casualty insurance broker NFP for $13.4 billion, to be financed by cash and share issuances, as it looks to expand in segments such as risk, benefits, wealth, and retirement plan advisory.</li>
</ul>
Read now: <a href="https://www.benzinga.com/economics/macro-economic-events/23/12/36329393/long-duration-treasury-bonds-enter-bull-market-what-lies-ahead-in-2024">Long-Duration Treasury Bonds Enter Bull Market: What Lies Ahead In 2024?</a>
Photo via Shutterstock.

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Bonds

Treasuries

Small Business

EXAS

Wall Street Edges Higher, Small Caps Eye Best Month In 3 Years, Bitcoin Rebounds: What's Driving Markets Wednesday?

United States Steel Corp&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) stock is trading over 28% higher in premarket trading on Monday, owing to news around its acquisition by Japan-based Nippon Steel Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NISTF#OTC">NISTF</a>). The transaction values United States Steel <a href="https://www.benzinga.com//node/36278301">at $14.9 billion</a>.
<h2 class="wp-block-heading">US Steel Investors Surpass S&amp;P 500 30%</h2>
Here&#8217;s a chart depicting how a $1000 investment in U.S. Steel and the S&amp;P 500 would have fared over the past year.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/18082933/X-Stock-vs-SP500-1000-Dec-18.jpg" alt="" class="wp-image-163657" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/18082933/X-Stock-vs-SP500-1000-Dec-18.jpg 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/18082933/X-Stock-vs-SP500-1000-Dec-18-300x260.jpg 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
A $1000 investment in U. S. Steel stock made a year ago, would now have grown to $1,592.95. That&#8217;s a whopping 59.3% return for X stockholders. On the other hand, an equal amount invested in an S&amp;P 500 ETF would have grown to $1,236.15.
The outperformance has been more pronounced since mid-August, when U.S. Steel launched a formal review process, after rejecting rival Cleveland-Cliffs Inc&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) $7.3 billion offer. 
Also Read: <a href="https://www.benzinga.com//node/36136970">U.S. Steel&#8217;s Operations In Minnesota Generated $1.8B In Economic Impact</a>
Exchange-traded funds that closely track the&nbsp;S&amp;P 500 index, namely the&nbsp;SPDR S&amp;P 500&nbsp;ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), the&nbsp;iShares Core S&amp;P 500 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVV#NYSE">IVV</a>) and the&nbsp;Vanguard 500 Index Fund ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>)&nbsp;are up over 23.6% over the past year.
<h2 class="wp-block-heading">US Steel Investors Outperform XME By 40%</h2>
Now, let&#8217;s see how U.S. Steel&#8217;s stock has fared against the material sector benchmark &#8211; SPDR S&amp;P Metals &amp; Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>). U.S. Steel commanded 4.81% of the XME ETF portfolio as of Dec. 14.
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/18084354/X-Stock-vs-XME-1000-Dec-18.jpg" alt="" class="wp-image-163666" style="width:800px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/18084354/X-Stock-vs-XME-1000-Dec-18.jpg 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/18084354/X-Stock-vs-XME-1000-Dec-18-300x260.jpg 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
U.S. Steel stock has outperformed the materials sector benchmark by a good degree as well. While X stock returned 59.3% to investors, XME ETF holders only gained 17.5% over the past 1 year.
U.S. Steel is the fourth largest holding of the XME portfolio, after Alpha Metallurgical Resources Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMR#NYSE">AMR</a>), Cleveland-Cliffs and Hecla Mining Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HL#NYSE">HL</a>).
Related: <a href="https://www.benzinga.com/markets/equities/23/12/36278301/why-steel-giant-u-s-steel-shares-are-soaring-today">Why Steel Giant U. S. Steel Shares Are Soaring Today</a>
Photo: Unsplash

Pre-Market Outlook

NISTF

US Steel Shares Outperform S&P 500 - Deliver 30% Higher Returns In Single Year

The early arrival of a Santa Claus rally has graced the real estate sector, with the bearer of good tidings being none other than Federal Reserve Chair Jerome Powell, who has signaled the <a href="https://www.benzinga.com/economics/macro-economic-events/23/12/36225016/powell-signals-peak-interest-rates-foresees-cuts-in-2024-markets-rally-traders-ex">possibility of interest rate cuts in 2024</a>.
This anticipation, coupled with the sector&#8217;s high sensitivity to the move in Treasury yields — with the 10-year note falling below the 4% threshold — has triggered a spectacular bullish wave across real estate stocks in recent sessions.
Since the release of the Federal Open Market Committee (FOMC) rate statement and Powell&#8217;s subsequent press conference Wednesday, no sector within the S&amp;P 500 index has seen growth anywhere near <a href="https://www.benzinga.com/real-estate">that of real estate</a>. 
<h2 class="wp-block-heading">Market Snapshot: S&amp;P 500 Sector Performance Since Fed Meeting</h2>
A glimpse at the S&amp;P 500 sector performance since 2 p.m. Wednesday to 3 p.m. Thursday reveals the following:
<figure class="wp-block-table"> 
<table>
<thead>
<tr>
<th>ETF Name</th>
<th>Performance (%)</th>
</tr>
</thead>
<tbody>
<tr>
<td>Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>)</td>
<td>+6.21%</td>
</tr>
<tr>
<td>Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>)</td>
<td>+4.07%</td>
</tr>
<tr>
<td>Materials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>)</td>
<td>+3.58%</td>
</tr>
<tr>
<td>Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>)</td>
<td>+3.29%</td>
</tr>
<tr>
<td>Industrials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>)</td>
<td>+2.67%</td>
</tr>
<tr>
<td>Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>)</td>
<td>+2.46%</td>
</tr>
<tr>
<td>Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>)</td>
<td>+1.23%</td>
</tr>
<tr>
<td>Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>)</td>
<td>+1.2%</td>
</tr>
<tr>
<td>Health Care Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>)</td>
<td>+0.48%</td>
</tr>
<tr>
<td>Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>)</td>
<td>+0.47%</td>
</tr>
<tr>
<td>Consumer Staples Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>)</td>
<td>-0.06%</td>
</tr>
</tbody>
</table>
</figure>
Read also: <a href="https://www.benzinga.com/economics/macro-economic-events/23/12/36243865/why-fed-rate-cuts-could-propel-real-estate-small-cap-gold-miners-solar-stocks-to-">Real Estate, Small-Cap, Gold Miner, Solar Stocks Go Wild On Prospect Of Fed Rate Cuts</a>
<h2 class="wp-block-heading">Chart: Real Estate Outperforms All Other Sectors Since Fed&#8217;s Dovish Pivot </h2>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/14162148/XLRE_2023-12-14_20-19-30_fbfce-1024x495.png" alt="" class="wp-image-161925" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/14162148/XLRE_2023-12-14_20-19-30_fbfce-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/14162148/XLRE_2023-12-14_20-19-30_fbfce-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/14162148/XLRE_2023-12-14_20-19-30_fbfce-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/14162148/XLRE_2023-12-14_20-19-30_fbfce-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/14162148/XLRE_2023-12-14_20-19-30_fbfce.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h2 class="wp-block-heading">Top Real Estate Stock Movers</h2>
Leading the performance within this week&#8217;s XLRE ETF are the following stocks:
<figure class="wp-block-table"> 
<table>
<thead>
<tr>
<th>Name</th>
<th>Industry</th>
<th>Price Chg. % (5D)</th>
</tr>
</thead>
<tbody>
<tr>
<td>Prologis, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLD#NYSE">PLD</a>)</td>
<td>Industrial REITs</td>
<td>14.91%</td>
</tr>
<tr>
<td>Boston Properties, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BXP#NYSE">BXP</a>)</td>
<td>Office REITs</td>
<td>13.05%</td>
</tr>
<tr>
<td>Extra Space Storage Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXR#NYSE">EXR</a>)</td>
<td>Specialized REITs</td>
<td>12.52%</td>
</tr>
<tr>
<td>Kimco Realty Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KIM#NYSE">KIM</a>)</td>
<td>Retail REITs</td>
<td>11.57%</td>
</tr>
<tr>
<td>Simon Property Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPG#NYSE">SPG</a>)</td>
<td>Retail REITs</td>
<td>10.96%</td>
</tr>
<tr>
<td>Host Hotels &amp; Resorts, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HST#NYSE">HST</a>)</td>
<td>Hotel and Resort REITs</td>
<td>10.29%</td>
</tr>
<tr>
<td>Essex Property Trust, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>)</td>
<td>Residential REITs</td>
<td>10.28%</td>
</tr>
<tr>
<td>Alexandria Real Estate Equities, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARE#NYSE">ARE</a>)</td>
<td>Office REITs</td>
<td>10.07%</td>
</tr>
<tr>
<td>CBRE Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CBRE#NYSE">CBRE</a>)</td>
<td>Real Estate Management and Development</td>
<td>9.75%</td>
</tr>
</tbody>
</table>
</figure>
<h2 class="wp-block-heading">5 ETFs To Get Exposure To Rate-Sensitive Real Estate Stocks</h2>
The XLRE ETF provides extensive coverage of the real estate sector, encompassing a variety of industries including industrial, office, hotel and resort, residential and specialized REITs. 
A similar broad exposure is offered by the Vanguard Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNQ#NYSE">VNQ</a>) and the iShares U.S. Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYR#NYSE">IYR</a>), both of which have displayed performance nearly identical to XLRE in the last two sessions.
Within the realm of real estate-linked ETFs, two in particular have shown even more remarkable performance.
For investors seeking exposure to U.S. REITs that hold residential and commercial mortgages, the iShares Mortgage Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REM#NYSE">REM</a>) is the go-to. This ETF in particular has also benefited from a Thursday announcement by Freddie Mac, which reported a dip in the average rates for 30-year mortgages below 7% for the first time since August.
The REM ETF has rallied 7.3% since the Fed meeting, outperforming the aforementioned funds.
Finally, there is a leveraged ETF, the Direxion Daily Real Estate Bull 3X Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRN#NYSE">DRN</a>), which has skyrocketed 18% in the last two sessions, offering a more aggressive bet on the real estate sector&#8217;s bullish run.
Read now: <a href="https://www.benzinga.com/money/best-reits">Best REITs to Buy</a>
Photo: Shutterstock, Unsplash and <a href="https://www.flickr.com/photos/imfphoto/" target="_blank" rel="noreferrer noopener">International Monetary Fund</a> on Flickr.

REIT

Federal Reserve

CBRE

Direxion Daily Real Estate Bull 3x Shares

iShares Trust Dow Jones US Real Estate Fund Index

iShares FTSE NAREIT Mortgage PLUS Capped Index Fund

XLRE

Santa Rally Boosts Real Estate Stocks: 5 ETF Picks To Ride The Fed Rate Cut Wave

The momentum on Wall Street during Tuesday&#8217;s session continues to lack strength as investors carefully scrutinize the most recent economic data. Moody&#8217;s decision to lower China&#8217;s credit rating outlook from stable to negative also weighed <a href="https://www.benzinga.com/markets/asia/23/12/36098260/chinas-market-in-turmoil-as-moodys-warning-erases-reopening-gains">on risk propensity</a>. 
While service activity showed a better-than-expected uptick in November, October&#8217;s job openings fell substantially, marking notable underperformance <a href="https://www.benzinga.com/economics/macro-economic-events/23/12/36095111/services-sector-beats-expectations-in-november-but-job-vacancies-take-a-tumble-se">compared to earlier predictions. </a>
The dollar is trending higher, up 0.3%. U.S. Treasuries also soared, with the popular iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) rallying 2%. 
Gold and silver fell further, down 0.5% and 1.5% respectively, weighed on by a stronger greenback. 
Equities experienced declines, with the exception of the technology and discretionary sectors, which remained resilient.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) made a strong move, surging 3.7% to exceed the $43,000 mark, driven by escalating rumors suggesting that Qatar&#8217;s sovereign wealth fund is considering a substantial investment of up to half a trillion dollars in Bitcoin. 
<h2 class="wp-block-heading">Tuesday&#8217;s US Stock Index Performance</h2>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.01%</td>
<td>15,842.04</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>-0.15%</td>
<td>4,562.59</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>-0.33%</td>
<td>36,094.28</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+1.25%</td>
<td>1,862.87</td>
</tr>
</tbody>
</table>
</figure>
<ul>
<li>The SPDR S&amp;P 500 ETF Trust&nbsp;(ARCA: <a style="font-size: revert" href="https://www.benzinga.com/stock/spy#NYSE">SPY</a>) edged 0.1% lower to $456.14. </li>
<li>The SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) eased 0.3% to $361.51.  </li>
<li>The Invesco QQQ Trust&nbsp;(NASDAQ: <a href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>) held flat at $386.33. </li>
<li>The iShares Russell 2000 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 1.3% to $184.45, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a> </li>
</ul>
<h2 class="wp-block-heading">Chart Of The Day: Bitcoin Reaches 19-Month High</h2>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="723" src="https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/05134425/BTCUSD_2023-12-05_17-44-06_f9df6-1024x723.png" alt="" class="wp-image-155737" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/05134425/BTCUSD_2023-12-05_17-44-06_f9df6-1024x723.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/05134425/BTCUSD_2023-12-05_17-44-06_f9df6-300x212.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/05134425/BTCUSD_2023-12-05_17-44-06_f9df6-768x542.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/05134425/BTCUSD_2023-12-05_17-44-06_f9df6.png 1530w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h2 class="wp-block-heading">Sector, Industry ETF Performance</h2>
The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) and the Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) managed to post minor gains. 
All other S&amp;P 500 sectors traded in the red, with the the Materials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>) and the Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) suffering the largest declines, down 1.3% and 1.2%, respectively. 
Looking at specific industries, retail stocks, as tracked by the SPDR Retail ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XRT#NYSE">XRT</a>) fell by 2.5%, followed by SPDR Metals &amp; Mining ETF (ARCA: XME, down 2%. 
<h2 class="wp-block-heading">Stocks In Focus</h2>
<ul>
<li>Gamestop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) tumbled by more than 10%, offsetting Monday&#8217;s 11% rally.</li>
<li>GitLab Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GTLB#NASDAQ">GTLB</a>) rose nearly 13%, after reporting better-than-forecasted quarterly results. </li>
<li>Robinhood Markets, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) rose 7% after Cathie Wood included the stock in her ARKK FIntech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>).</li>
<li>Albemarle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>) fell over 6%.</li>
</ul>
Read now: <a href="https://www.benzinga.com/23/12/36081028/brokerage-industrys-2024-outlook-bank-of-americas-5-top-stock-picks-revealed">Brokerage Industry&#8217;s 2024 Outlook: Bank of America&#8217;s 5 Top Stock Picks Revealed</a>
Photo via Shutterstock.

Fintech news covering the emerging Financial Technology services sector

Fintech

Hedge Funds

Exclusives

Intraday Update

ARKF

GTLB

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JETS

US Stocks Falter, Bonds, Dollar Gain, While Bitcoin Soars Past $43,000 On Rising Institutional Interest: What's Driving Markets Tuesday?

Thursday morning was marked by the release of significant economic data for the United States, setting the tone for the trading session.
The producer price index rose by 0.7% month-on-month in August, jumping from July&#8217;s 0.3% increase <a href="https://www.benzinga.com/economics/macro-economic-events/23/09/34578625/producer-prices-unexpectedly-soar-1-6-in-august-deepening-inflation-worries-rate-">and surpassing estimates of 0.4%.</a> 
This represented the highest monthly price increase for producers since June 2022. Annual inflation among producers reached 1.6%, exceeding economists&#8217; projections of 1.2%.
The PPI&#8217;s unexpected rise comes on the heels of a higher-than-expected consumer price index report released just a day earlier. August CPI inflation increased to 3.7%, up from 3.2% in July, slightly <a href="https://www.benzinga.com/economics/macro-economic-events/23/09/34540762/august-cpi-surge-stuns-economists-rate-hike-looms-or-just-a-blip">above the anticipated 3.6%. </a>
These elevated figures have raised concerns about the Federal Reserve&#8217;s monetary policy, as mounting inflation pressures could prompt the Fed to rethink its interest rate path. 
Despite the reactivation of inflationary pressures, American consumer demand remains strongly robust. August witnessed <a href="https://www.benzinga.com/economics/macro-economic-events/23/09/34579383/august-retail-sales-beat-expectations-defying-inflation-high-interest-rates">0.6% month-on-month growth in retail sales</a>, surpassing July&#8217;s 0.5% and beating expectations of 0.2%. This impressive streak marks the fifth consecutive month of rising retail sales. 
The resilience in consumer spending defies the gravitational pull of inflation and high interest rates, confounding market analysts and policymakers alike.
<h2 class="wp-block-heading">Experts Weigh In On Reflation Phase</h2>
Chris Zaccarelli, chief investment Officer for Independent Advisor Alliance, said consumers continue to spend more than anticipated despite the higher interest rate environment. The Federal Reserve now faces a tough task, as data coming in hotter than predicted could put increasing pressure on the central bank to consider raising rates once more at the November meeting, he said. 
Jeffrey Roach, chief economist for LPL Financial, tried to cool down the excitement, stating that retail sales figures are not adjusted for inflation. The expert highlighted that the surge in August retail sales was primarily driven by an increase in gas purchases. When accounting for inflation, the economy shows signs of losing some momentum, although many businesses still enjoyed a strong summer with growing sales.
<h2 class="wp-block-heading">Market Reactions: 5 ETFs Rallying Thursday</h2>
The top-performing exchange-traded funds on Thursday were predominantly focused on cyclical sectors, which typically thrive when the economic engine is firing on all cylinders.
<ol>
<li>SPDR Metals and Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>) up 2.3%, top performing stock: Schnitzer Steel Industries Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDUS#NASDAQ">RDUS</a>) up 4.7%. </li>
<li>SPDR Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) up 1.5%; top performing stock: Citizen Financial Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFG#NYSE">CFG</a>) up 3.1%. </li>
<li>Vanguard Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNQ#NYSE">VNQ</a>) up 1.3%; top performing stock: Uniti Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UNIT#NASDAQ">UNIT</a>) up 9.4%. </li>
<li>The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) up 1.2%; top performing stock: Marathon Oil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>) up 3.2%. </li>
<li>iShares MSCI EAFE Value ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFV#NYSE">EFV</a>) 1.1%; top performing stock: Aviva plc (OTCPK: AVVIY) up 4.3% </li>
</ol>
Read now: <a href="https://www.benzinga.com/news/23/09/34582519/arms-ipo-could-be-valued-at-54b-google-slashes-jobs-in-global-recruiting-starbucks-founder-and-forme">Arm&#8217;s IPO Could Be Valued At $54B, Google Slashes Jobs in Global Recruiting, Starbucks Founder And Former CEO To Leave: Today&#8217;s Top Stories</a>

Specialty ETFs

AVVIY

UNIT

VIRT

Inflation Surges, Consumer Demand Ignites Reflation Trade: Top 5 ETFs Dominating Thursday's Market

It has been a data-rich week, culminating with the Bureau of Labor Statistics releasing the August <a href="https://www.benzinga.com/news/23/09/34170413/august-jobs-report-tops-forecasts-but-unemployment-ticks-higher-wage-growth-slows">jobs report on Friday.</a>
Despite non-farm payrolls surpassing expectations at 187,000 versus the projected 170,000, the report revealed an uptick in the unemployment rate, rising from 3.5% to 3.8%, and wage growth falling short of predictions.
On the same day, the ISM Manufacturing PMI showed a marginal increase from 46.4 to 47.6, though it remained in contraction territory.
These numbers reaffirm the &#8216;not too hot, not too cold&#8217; state of the economy, consistent with the <a href="https://www.benzinga.com/news/econ-s/23/08/34141908/feds-favored-inflation-gauge-matches-expectations-july-pce-price-index-inches-up-to-3-3">PCE price index data</a> – the Fed&#8217;s favorite inflation gauge – meeting expectations earlier in the week.
Risk assets, especially stocks, are responding positively to this new &#8216;Goldilocks&#8217; scenario for the U.S. economy, with investors increasingly confident that the latest economic data may lead the Fed to conclude its rate-hike campaign. Fed futures now indicate a 93% likelihood of unchanged rates in September and 63% in November, according to the CME Group Fed Watch Tool. 
The S&amp;P 500 index, tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), has risen by 2.8% this week, putting it on track for its best weekly performance since the end of March 2023, the second-best of the year.
Also Read: <a href="https://www.benzinga.com/news/large-cap/23/09/34175244/exclusive-ark-invest-was-there-with-nvidia-at-5-cathie-wood-tells-benzinga">EXCLUSIVE: Ark Invest Was &#8216;There&#8217; With Nvidia At $5, Cathie Wood Tells Benzinga</a>
<h2 class="wp-block-heading">Friday&#8217;s Best Performing Equity ETFs</h2>
Here are the equity ETFs that rallied today following the release of the latest economic data:
<ol>
<li>VanEck Oil Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OIH#NYSE">OIH</a>) up 2.8% &#8211; Best performing stock: Nabors Industries Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NBR#NYSE">NBR</a>) up 7.2% </li>
<li>SPDR Metals &amp; Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>) up 2.3% &#8211; Best performing stock: Freeport McMoran Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) up 4.5% </li>
<li>SPDR S&amp;P Oil &amp; Gas Explor &amp; Production (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOP#NYSE">XOP</a>) up 2.2% &#8211; Best performing stock: CVR Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVI#NYSE">CVI</a>) up 4.5% </li>
<li>SPDR Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) up 2.2% &#8211; Best performing stock: Flushing Financial Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIC#NASDAQ">FFIC</a>) up 5.3%. </li>
<li>Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) up 1.5% &#8211; Best performing stock: Devon Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) up 2.8% </li>
<li>iShares MSCI Emerging Markets ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EEM#NYSE">EEM</a>) up 1.5% &#8211; Best performing stock: Lufax Holding Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LU#NYSE">LU</a>) up 12% </li>
<li>iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) up 1.4% &#8211; Best performing stock: EOS Energy Enterprises Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EOSE#NASDAQ">EOSE</a>) up 24%</li>
</ol>
Read now: <a href="https://www.benzinga.com/news/23/09/34172689/jeff-bezos-vs-elon-musk-space-contract-lawsuit-novo-nordisks-famed-drug-ozempic-could-be-next-conten">Jeff Bezos Vs. Elon Musk Space Contract Lawsuit, Novo Nordisk&#8217;s Famed Drug Ozempic Could Be Next Contender For Medicare Negotiations, Tesla Rival XPeng&#8217;s August Deliveries Zooms 43%: Today&#8217;s Top Stories</a>
Photo: Shutterstock

New ETFs

Emerging Market ETFs

EOSE

FFIC

7 Equity ETFs Excel In Goldilocks Scenario While Market Ponders Fed Rate Hike Outcome

As the second quarter comes to a close, it&#8217;s time to look at the performance of industry ETFs and the stocks that helped shape <a href="https://www.benzinga.com/general/biotech/23/03/31609224/top-5-best-and-worst-u-s-industry-etfs-in-q1-2023-ai-and-bank-turmoil-shaped-stock-returns">their respective sector returns. </a>
With the S&amp;P 500 Index, as represented by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), up 6% during this time, investors are eager to know which industries have outperformed or lagged behind the overall market over the quarter. 
<h2 class="wp-block-heading">Best Performing Industry ETFs in Q2 2023</h2>
The top five performing Industry ETFs in the second quarter of the year were:
5) First Trust Dow Jones Internet Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDN#NYSE">FDN</a>)
<ul>
<li>Description: FDN tracks the performance of the Dow Jones Internet Composite Index, providing exposure to leading internet companies.</li>
<li>Performance quarter-to-date (as of June 26): 7.4%</li>
<li>Top three holdings: Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (9.76%), Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) (9.47%), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) (7.7%). </li>
<li>Top three stock contributors (% added to industry quarterly performance): AMZN (2.5%), META (2.2%), Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) (1.2%)</li>
</ul>
4) US Global Jets ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JETS#NYSE">JETS</a>)
<ul>
<li>Description: JETS invests in the global airline industry, including airlines, manufacturers, and airport services, allowing investors to access the aviation sector.</li>
<li>Performance quarter-to-date (as of June 26): 9.4%</li>
<li>Top three holdings: Delta Air Lines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) (10.7%), Southwest Airlines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) (10.5%), American Airlines Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NYSE">AAL</a>) (10.2%) </li>
<li>Top three stock contributors: DAL (3.4%), United Airlines Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NYSE">UAL</a>) (2.7%), SkyWest Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYW#NASDAQ">SKYW</a>) (2%). </li>
</ul>
3) iShares Expanded Tech-Software Sector ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGV#NYSE">IGV</a>)
<ul>
<li>Description: IGV aims to replicate the performance of the S&amp;P North American Technology-Software Index, offering exposure to the software industry.</li>
<li>Performance quarter-to-date (as of June 26): 10.4%</li>
<li>Top three holdings: Adobe, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) (9.1%), Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) (8.9%), Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) (8.5%)</li>
<li>Top three stock contributors: ORCL (2.6%), ADBE (2.4%), MSFT (1.5%). </li>
</ul>
2) VanEck Vectors Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NYSE">SMH</a>)
<ul>
<li>Description: SMH seeks to track the MVIS US Listed Semiconductor 25 Index, providing exposure to companies in the semiconductor industry.</li>
<li>Performance quarter-to-date (as of June 26): 12.2%</li>
<li>Top three holdings: NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) (19.6%), Taiwan Semiconductor Manufacturing Company Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NASDAQ">TSM</a>) (11.8%), Bradcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) (5.1%)</li>
<li>Top three stock contributors: NVDA (7.9%), AVGO (1.4%), TSM (1.2%) </li>
</ul>
1) iShares U.S. Home Construction ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITB#NYSE">ITB</a>)
<ul>
<li>Description: ITB invests in U.S. companies involved in home construction and improvement, allowing investors to participate in the housing sector.</li>
<li>Performance quarter-to-date (as of June 26): 16.7%</li>
<li>Top three holdings: D.R. Horton Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) (15.4%), Lennar Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) (12.8%), and NVR Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVR#NYSE">NVR</a>) (7.7%) </li>
<li>Top three stock contributors: DHI (3.6%), LEN (2.3%), PulteGroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>) (2.2%)</li>
</ul>
See Also: <a href="https://www.benzinga.com/government/23/06/32913576/us-builders-are-the-most-confident-theyve-been-about-new-single-family-homes-in-11-months" target="_blank" rel="noreferrer noopener">US Builders Are The Most Confident They&#8217;ve Been About New Single-Family Homes In 11 Months</a>
<h2 class="wp-block-heading">Top Performing U.S. Industry ETFs For The Quarter</h2>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="759" src="https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/26161047/ITB_2023-06-26_22-10-13_1505e-1024x759.png" alt="" class="wp-image-58013" srcset="https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/26161047/ITB_2023-06-26_22-10-13_1505e-1024x759.png 1024w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/26161047/ITB_2023-06-26_22-10-13_1505e-300x222.png 300w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/26161047/ITB_2023-06-26_22-10-13_1505e-768x569.png 768w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/26161047/ITB_2023-06-26_22-10-13_1505e-1536x1138.png 1536w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/26161047/ITB_2023-06-26_22-10-13_1505e.png 1660w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h2 class="wp-block-heading">Worst Performing Industry ETFs in Q2 2023</h2>
The worst five performing Industry ETFs in the second quarter of the year were:
5) VanEck AgriBusiness ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOO#NYSE">MOO</a>)
<ul>
<li>Description: MOO seeks to replicate the performance of the MVIS Global Agribusiness Index, offering exposure to companies involved in various segments of the agricultural industry, including farming, fertilizers, equipment, and more.</li>
<li>Performance quarter-to-date (as of June 26): down by 6.7%</li>
<li>Top three holdings: Deere &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DE#NYSE">DE</a>) (8.54%), Zoetis Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTS#NYSE">ZTS</a>) (8.3%), and Bayer Aktiengesellschaft (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BAYRY#OTC">BAYRY</a>) (6.95%).</li>
<li>Worst 3 stock contributors: Nutrien Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NTR#NYSE">NTR</a>) (-1.1%), The Mosaic Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOS#NYSE">MOS</a>) (-0.5%), and Tyson Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>) (-0.4%).</li>
</ul>
4) SPDR S&amp;P Metals &amp; Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>)
<ul>
<li>Description: XME follows the S&amp;P Metals &amp; Mining Select Industry Index, investing in companies involved in metals and mining production.</li>
<li>Performance quarter-to-date (as of June 26): down by 7.7%</li>
<li>Top three holdings: Commercial Metals Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) (4.8%), Alpha Metallurgical Resources, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMR#NYSE">AMR</a>) (4.7%), and Nucor Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) (4.6%).</li>
<li>Worst three stock contributors: MP materials corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MP#NYSE">MP</a>) (-0.9%), Alcoa Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>) (-0.8%), and Peabody Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTU#NYSE">BTU</a>) (-0.7%).</li>
</ul>
3) SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>)
<ul>
<li>Description: KRE seeks to replicate the performance of the S&amp;P Regional Banks Select Industry Index, providing exposure to regional banking companies.</li>
<li>Performance quarter-to-date (as of June 26): down by 8.6%</li>
<li>Top three holdings: New York Community Bancorp, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYCB#NYSE">NYCB</a>) (2.08%), Bank OZK (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OZK#NASDAQ">OZK</a>) (2.06%), and Cullen/Frost Bankers, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFR#NYSE">CFR</a>) (2.06%).</li>
<li>Worst 3 stock contributors: First Horizon Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FHN#NYSE">FHN</a>) (-0.9%), PacWest Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PACW#NASDAQ">PACW</a>) (-0.5%), and Valley National Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VLY#NASDAQ">VLY</a>) (-0.4%).</li>
</ul>
2) Invesco WilderHill Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBW#NYSE">PBW</a>)
<ul>
<li>Description: PBW aims to track the WilderHill Clean Energy Index, offering investors exposure to clean energy companies.</li>
<li>Performance quarter-to-date (as of June 26): down by 9.3%</li>
<li>Top three holdings: Bel Fuse Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BELFA#NASDAQ">BELFA</a>) (2.4%), Joby Aviation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JOBY#NYSE">JOBY</a>) (2.3%), and Fluence Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLNC#NASDAQ">FLNC</a>) (2.04%).</li>
<li>Worst 3 stock contributors: Workhorse Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WKHS#NASDAQ">WKHS</a>) (-0.5%), Blink Charging Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLNK#NASDAQ">BLNK</a>) (-0.4%), and Wallbox N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBX#NASDAQ">WBX</a>) (-0.4%).</li>
</ul>
1) Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>)
<ul>
<li>Description: TAN tracks the MAC Global Solar Energy Index, providing investors with exposure to companies involved in the solar energy industry.</li>
<li>Performance quarter-to-date (as of June 26): negative by 11.8%</li>
<li>Top three holdings: First Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) (9.9%), Enphase Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) (9.4%), and SolarEdge Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>) (8.9%).</li>
<li>Worst three stock contributors: ENPH (-2.1%), FSLR (-1.8%) and SEDG (-1.3%). </li>
</ul>
Read now: <a href="https://www.benzinga.com/markets/options/23/06/33011147/this-is-what-whales-are-betting-on-first-solar" target="_blank" rel="noreferrer noopener">This Is What Whales Are Betting On First Solar</a>
<h2 class="wp-block-heading">Worst Performing U.S. Industry ETFs For The Quarter</h2>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="759" src="https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/26161237/TAN_2023-06-26_22-12-23_54cc0-1024x759.png" alt="" class="wp-image-58014" srcset="https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/26161237/TAN_2023-06-26_22-12-23_54cc0-1024x759.png 1024w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/26161237/TAN_2023-06-26_22-12-23_54cc0-300x222.png 300w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/26161237/TAN_2023-06-26_22-12-23_54cc0-768x569.png 768w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/26161237/TAN_2023-06-26_22-12-23_54cc0-1536x1138.png 1536w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/26161237/TAN_2023-06-26_22-12-23_54cc0.png 1660w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>

ADBE

AMZN

AVGO

BAYRY

BELFA

BLNK

ENPH

First Trust Dow Jones Internet Index Fund

FLNC

FSLR

GOOG

GOOGL

iShares Dow Jones US Homenstruction Index Fund

JOBY

MSFT

NFLX

NYCB

ORCL

PACW

PowerShares Exchange Traded Fund Trust WilderHill Clean Energy Portfolio

SEDG

SKYW

WKHS

Unmasking Q2 2023's Stars & Strugglers: Industry ETFs And Top Stock Standouts

The iShares MSCI Global Select Metals &amp; Mining Producers ETF&nbsp;(BATS: <a class="ticker" href="https://www.benzinga.com/stock/pick#BATS">PICK</a>) is down roughly 16.53% year-to-date. Despite being&nbsp;down, it was&nbsp;considerably better than the S&amp;P 500 down nearly 21% year-to-date.
This ETF offers access to the global mining industry through an international basket of companies engaged in the extraction <a href="https://www.benzinga.com/news/22/05/26998345/could-the-metals-and-mining-industry-soar-on-green-energy-revolution-while-reckoning-with-its-own-cl">and production of metals</a>.
Meanwhile, the international mining ETF&rsquo;s rival SPDR S&amp;P Metals &amp; Mining ETF (ARCA: XME)&nbsp;invested in U.S. mining companies and is up roughly 5.7 % year-to-date. This domestic mining ETF&rsquo;s top 15 holdings include copper-heavy miner Freeport-McMoRan Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fcx#NYSE">FCX</a>), which has suffered in its third-quarter earnings due to falling copper prices.
A factor to consider when investing in mining companies is that their dividend increases can be inconsistent over the years as commodity prices are <a href="https://www.benzinga.com/money/most-volatile-stocks/">volatile</a>, especially when faced with high demand.
Go To: <a href="https://www.benzinga.com/money/personal-finance">Benzinga&#39;s&nbsp;Personal Finance Hub Educating You On Choosing The Appropriate Financial Resources&nbsp;</a>
Rio Tinto Group plc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rio#NYSE">RIO</a>) is offering a dividend yield of 9.86% or $5.34 per share annually, utilizing semiannual payments, with an unpredictable track record of increasing its dividends.
Rio Tinto is a global diversified miner and its dominant commodity is iron ore, with significantly lesser contributions from copper, aluminum, diamonds, gold&nbsp;and industrial minerals.
&quot;Market conditions were good, albeit below last year&#39;s record levels. We delivered largely flat production and solid financial results, with an underlying EBITDA of $15.6 billion. As a result, we are paying our second highest-ever interim dividend of $4.3 billion, a 50% payout, in line with our policy. The market environment has become more challenging at the end of the period,&rdquo; said Rio Tinto&rsquo;s CEO&nbsp;Jakob Stausholm.
Vale SA&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vale#NYSE">VALE</a>) is offering a dividend yield of 8.30% or $1.12 per share annually, making semiannual payments, with an inconsistent track record of increasing its dividends.
Vale is a large global miner and the world&#39;s largest producer of iron ore and pellets. In recent years, the company has sold assets such as its fertilizer, coal&nbsp;and steel operations to concentrate on iron ore, nickel&nbsp;and copper.
On May 6,&nbsp;Vale disclosed it entered into a long-term contract with Tesla Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) to supply class one nickel in the U.S.&nbsp;from its operations in Canada. Vale&rsquo;s target is to deliver 30% to 40% of class one nickel sales into the fast-growing electric vehicle industry.
Vale announced on May 16&nbsp;that it concluded the buyback program started in October 2021, with 200 million shares repurchased&nbsp;at an average price of $ 17.56 per share&nbsp;totaling $3.5 billion. Vale also announced on April&nbsp;27 that it started a new buyback program, which is limited to the maximum purchase of 500 million common shares and their respective ADRs. The new program will be implemented over the next 18 months from the announcement date.
BHP Group Ltd (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bhp#NYSE">BHP</a>) is offering a dividend yield of 6.62% or $3.25 per share annually, conducting semiannual payments, with an infrequent track record of increasing its dividend payments.
BHP Group is a global diversified miner supplying iron ore, copper, gold, metallurgical coal, nickel&nbsp;and potash.
BHP CEO Mike Henry&nbsp;commented:&nbsp;&ldquo;BHP delivered strong operational performance and disciplined cost control to realize record underlying earnings of $40.6 billion and record free cash flow of $24.3 billion.&rdquo;
In the second quarter of 2023 earnings release, BHP saw its nickel production grow by 16% quarter-over-quarter and <a href="https://www.benzinga.com/news/22/10/29130873/worlds-largest-miner-to-boost-its-green-credentials-read-how">copper production by 9%</a>.
Photo:&nbsp;<a href="https://www.shutterstock.com/g/RHJ">RHJPhtotos</a>&nbsp;via Shutterstock
&nbsp;

PICK

TSLA

All That Glitters: What 3 Global Mining Companies Offer High-Yield Dividends?

There&rsquo;s a chance that the SPDR S&amp;P Metals and Mining ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xme#NYSE">XME</a>) may be about to rally. And it&rsquo;s because of seller&rsquo;s remorse.
As you can see on the chart below, the important $48 price level was a resistance level. Each time XME reached it, the sellers put a ceiling on the price.
But now the price is higher and many of these investors regret selling.
A number of these remorseful sellers decide to buy their shares back, but only if they can get them for the same price at which they sold. As a result, they place buy orders at the price that was previously resistance.
If there are enough of these buy orders the level converts into support. That was the case on May 12 for XME and a move higher followed.
There&rsquo;s a chance it happens again.
To learn more about trading, check out the new <a href="https://www.benzinga.com/premium/ideas/checkout-vip/benzinga-trading-school/">Benzinga Trading School</a>.
<img alt="xme_1.png" src="https://www.benzinga.com/files/u344550/xme_1.png" style="height:278px; width:500px" />

Technicals

Is This ETF Ready To Rally?

One of the hardest things to do as a day trader is gathering all the necessary information to execute profitable trades.
Below are the top 15 charts that can help you stay on top of the markets.
Related Link: <a href="https://pro.benzinga.com/blog/what-are-etfs-why-to-trade-them/">What are ETFs &amp; How to Trade Them</a>
<ul>
<li>Real Estate Select Sector SPDR Fund &nbsp;(ARCA: <a href="https://www.benzinga.com/quote/XLRE">XLRE</a>)</li>
<li>SPDR Select Sector Fund - Health Care&nbsp;(ARCA: <a href="https://www.benzinga.com/quote/XLV">XLV</a>)</li>
<li>The Communication Services Select Sector SPDR Fund&nbsp;(ARCA: <a href="https://www.benzinga.com/quote/XLC">XLC</a>)</li>
<li>SPDR S&amp;P 500&nbsp;(ARCA:<a href="https://www.benzinga.com/quote/SPY"> SPY</a>)</li>
<li>SPDR Dow Jones Industrial Average ETF&nbsp;(ARCA: <a href="https://www.benzinga.com/quote/DIA">DIA</a>)</li>
<li>Invesco QQQ Trust, Series 1&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>)</li>
<li>SPDR Select Sector Fund - Energy Select Sector&nbsp;(ARCA: <a href="https://www.benzinga.com/quote/XLE">XLE</a>)</li>
<li>SPDR S&amp;P Oil &amp; Gas Explor &amp; Product&nbsp;(ARCA:<a href="https://www.benzinga.com/quote/XOP"> XOP</a>)</li>
<li>SPDR Gold Trust&nbsp;(ARCA: <a href="https://www.benzinga.com/quote/GLD">GLD</a>)</li>
<li>SPDR Series Trust SPDR S&amp;P Biotech ETF&nbsp;(ARCA: <a href="https://www.benzinga.com/quote/XBI">XBI</a>)</li>
<li>SPDR Select Sector Fund - Consumer Staples&nbsp;(ARCA: <a href="https://www.benzinga.com/quote/XLP">XLP</a>)</li>
<li>SPDR S&amp;P Metals &amp; Mining ETF&nbsp;(ARCA: <a href="https://www.benzinga.com/quote/XME">XME</a>)</li>
<li>SPDR Select Sector Fund - Utilities&nbsp;(ARCA: <a href="https://www.benzinga.com/quote/XLU">XLU</a>)</li>
<li>SPDR S&amp;P Semiconductor ETF&nbsp;(ARCA: <a href="https://www.benzinga.com/quote/XSD">XSD</a>)</li>
<li>Materials Select Sector SPDR&nbsp;(ARCA: <a href="https://www.benzinga.com/quote/XLB">XLB</a>)</li>
</ul>
Photo:&nbsp;<a href="https://www.pexels.com/@anna-nekrashevich?utm_content=attributionCopyText&amp;utm_medium=referral&amp;utm_source=pexels">Anna Nekrashevich</a>&nbsp;from&nbsp;<a href="https://www.pexels.com/photo/person-holding-a-smartphone-6801874/?utm_content=attributionCopyText&amp;utm_medium=referral&amp;utm_source=pexels">Pexels</a>
Original publication: September 30, 2021

15 Charts All Traders Should Look At Every Morning

SPDR S&amp;P Metals &amp; Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>) shares experienced unusual options activity on Wednesday. The stock price moved down to $43.31 following the option alert. 
<ul>
<li>Sentiment: BULLISH</li>
<li>Option Type: SWEEP</li>
<li>Trade Type: PUT</li>
<li>Expiration Date: 2021-08-06</li>
<li>Strike Price: $44.00</li>
<li>Volume: 2043</li>
<li>Open Interest: 34</li>
</ul>
<h2>Three Signs Of Unusual Options Activity</h2>
One way options market activity can be considered unusual is when volume is exceptionally higher than its historical average. The volume of options activity refers to the number of contracts traded over a given time period. The number of contracts that have been traded, but not yet closed by either counterparty, is called open interest. A contract cannot be considered closed until there exists both a buyer and seller for it. 
The trading of a contract with an expiration date in the distant future is another sign of unusual activity. Generally, additional time until a contract expires increases the potential for it to reach its strike price and grow its time value. Time value is important in this context because it represents the difference between the strike price and the value of the underlying asset. 
Contracts that are "out of the money" are also indicative of unusual options activity. "Out of the money" contracts occur when the underlying price is under the strike price on a call option, or above the strike price on a put option. These trades are made with the expectation that the value of the underlying asset is going to change dramatically in the future, and buyers and sellers will benefit from a greater profit margin. 
<h2>Understanding Sentiment</h2>
Options are "bullish" when a call is purchased at/near ask price or a put is sold at/near bid price. Options are "bearish" when a call is sold at/near bid price or a put is bought at/near ask price. 
Although the activity is suggestive of these strategies, these observations are made without knowing the investor's true intentions when purchasing these options contracts. An observer cannot be sure if the bettor is playing the contract outright or if they're hedging a large underlying position in a common stock. For the latter case, the exposure a large investor has on their short position in common stock may be more meaningful than bullish options activity. 
<h2>Trading Options With These Strategies</h2>
Unusual options activity is an advantageous strategy that may greatly reward an investor if they are highly skilled, but for the less experienced trader, it should remain as another tool to make an educated investment decision while taking other observations into account.
For more information to understand options alerts, visit <a href="https://pro.benzinga.help/en/articles/1769505-how-do-i-understand-options-alerts" title="https://pro.benzinga.help/en/articles/1769505-how-do-i-understand-options-alerts">https://pro.benzinga.help/en/articles/1769505-how-do-i-understand-options-alerts</a>

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