XLB - Select Sector Materials ETF is the chart of the week. XLB picked up nearly 6% in the past 5 sessions versus only 2.8% in the S&P 500.
Let's drill into the components of the XLB to see where all the performance is coming from.
The screen shot below shows relative performance of the components of the XLB on a 250-day, 90-day and 5 day timeframes. We can see that the winners are coming from the steel and mining stocks, and to a lesser extent chemicals.
Steelguru.com reports shares of US steel manufacturers surged after a JPMorgan analyst forecast a continued rebound in steel prices fuelled by higher materials costs and some improvement in demand.
