Materials Slide As Consumer Sentiment Data Weighs — Materials Roundup
Provided by Dow Jones Jul 16, 2021 8:42 PM UTC Producers of metals and other raw materials fell sharply as traders retreated from cyclical sectors in light of surprisingly weak consumer-sentiment data and other hitches in the global economic recovery. The SPDR Select Sector Materials exchange-traded fund, which tracks the materials industry group on the Standard & Poor's 500, closed on the cusp of correction territory. Inflation concerns appear to be depleting shoppers' appetite for spending after a long string of surveys from the University of Michigan showing an i...
Source: morningstar.com