Today: 20 March 2026
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NYSE:AA 11 January 2026 - 17 January 2026

Basic materials stocks face a copper reality check after the long weekend as XLB slips

Basic materials stocks face a copper reality check after the long weekend as XLB slips

Materials Select Sector SPDR ETF (XLB) fell 0.6% Friday as copper retreated from record highs, dragging basic materials stocks lower. Freeport-McMoRan dropped 2.1%, Dow lost 1.4%, and Alcoa slid nearly 5.9%. U.S. markets will close Monday for Martin Luther King Jr. Day, reopening Tuesday. Investors await Alcoa’s earnings on Jan. 22 and watch copper prices for further direction.

Stock Market Today

  • Natural Gas Prices Rally Amid Iran Strikes and Global Supply Concerns
    March 20, 2026, 1:14 AM EDT. Natural gas prices rose sharply on Thursday, with April Nymex futures closing up 3.3%. The surge followed a spike in European prices to a three-year high after Iran's attacks damaged 17% of Qatar's Ras Laffan LNG export capacity - the world's largest gas export plant. Repair work could take three to five years, tightening global supply. Despite the rally, U.S. natural gas inventories increased by 35 billion cubic feet last week, well above the five-year average decline, tempering gains. Weather forecasts showed mixed signals, with warmer trends in the western and southern U.S. but colder patterns in the east. Meanwhile, U.S. dry gas production rose 5.2% year-on-year, with electricity output also up 4.1% year-on-year, underlining demand growth. The closure of the Strait of Hormuz adds further strain on global gas supply, supporting prices.
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