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As of midday Monday, the Materials sector is the worst performing, down 1.5%. Albemarle Corp. (ALB) leads the losses with a drop of 10.2%, while Freeport-McMoRan Copper & Gold (FCX) is down 3.6%. The Materials Select Sector SPDR ETF (XLB), which tracks this sector, is also down 1.5% on the day but up 9.10% year-to-date. Albemarle Corp. has seen a year-to-date decline of 11.75%, whereas FCX is up 14.82% year-to-date. Together, ALB and FCX account for approximately 5.9% of XLB’s holdings.
The Utilities sector follows closely as the next worst performer, dropping 1.2%. Key stocks in this sector include CenterPoint Energy, Inc. (CNP) with a loss of 2.4%, and Eversource Energy (ES) down 2.1%. The Utilities Select Sector SPDR ETF (XLU), tracking utilities stocks, is down 1.1% for the day but up 11.86% year-to-date. Year-to-date, CenterPoint Energy is up 19.43%, and Eversource Energy is up 16.14%, with CNP and ES making up about 3.8% of XLU’s holdings.
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