New York, Jan 11, 2026, 13:34 EST — The market has closed.
- U.S. materials-sector proxy XLB climbed 1.6% on Friday, hitting a new closing high for 2026
- Copper climbed heading into the weekend, keeping miners and metal-related stocks under the spotlight
- Linde plans to release its quarterly earnings on Feb. 5, marking a crucial moment for the sector
U.S. basic materials shares wrapped up last week on a strong note, with the Materials Select Sector SPDR Fund (XLB) gaining 1.6% on Friday. (Nasdaq)
This matters since the group’s been acting like a macro signal — delivering a fast snapshot on growth, inflation, and the dollar — right as investors gear up for earnings season and new buzz around mining deals.
This also puts the sector at risk. Should metal prices dip or appetite for risk wane, those gains could unravel quickly.
Copper climbed 1.9% to $12,964 a metric ton on the London Metal Exchange late Friday, Bloomberg reported via Yahoo Finance. (Yahoo Finance)
Bellwether stocks led the rebound. Freeport-McMoRan climbed roughly 4.2% by Friday’s close, and Linde gained close to 1%.
Gold-linked miners stayed in step, with Newmont shares rising 2% on Friday, beating the broader market gains, according to MarketWatch data. (MarketWatch)
On Friday, Linde scheduled its fourth-quarter earnings and conference call for Feb. 5. As a major player in U.S. materials indexes, its outlook often shifts sentiment across the sector. (Linde)
Deal chatter intensified as Glencore shares surged Friday following fresh merger talks with Rio Tinto. The potential tie-up reignited speculation around consolidation among major miners, with copper assets once again taking center stage. (Reuters)
“Many of these mining mega-merger discussions often do not come to fruition,” Morningstar strategist Michael Field noted in a statement on the Rio-Glencore talks. (Reuters)
The tape continues to reward assets linked to tight metal markets. Traders are focused on whether copper can maintain its recent highs and if materials stocks will follow that trend instead of falling back on stock-specific factors.
The risk is clear-cut: a drop in copper or gold prices, or a shift in merger activity, could quickly deflate miners and materials ETFs. Signs of weakening industrial demand would also hit hard.
Mark your calendars for Feb. 5, when Linde reports earnings and hosts its call. Investors will be zeroed in on pricing, volume, and margin guidance for 2026—data that could either back the sector’s strong start this year or put a ceiling on it. (Linde)
