Basic Materials Stocks dip into tariff headlines as XLB ends higher — what traders watch next week
The Materials Select Sector SPDR Fund (XLB) rose 0.9% to $53.31 Friday as reports of possible Trump tariff rollbacks hit U.S. steel and aluminium stocks. Cleveland-Cliffs fell 3.4%, Steel Dynamics lost 3.9%, and Nucor slid 2.9%. Gold jumped over 2% to $5,022 an ounce. The White House denied plans to ease tariffs.