Basic materials stocks: XLB jumps 1.6% on copper surge as Linde sets Feb. 5 earnings date
U.S. basic materials shares wrapped up last week on a strong note, with the Materials Select Sector SPDR Fund gaining 1.6% on Friday.

Glencore’s stock surged 9.6% on Friday, hitting its highest mark since July 2024 after the miner confirmed talks with Rio Tinto over a potential merger. The news reignited interest in the deal-driven mining sector, according to Reuters data.