Today: 20 March 2026
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NYSE:MLM 1 January 2026 - 7 February 2026

Basic materials stocks jump to start 2026 — XLB rises as copper steadies and miners climb

Basic materials stocks jump to start 2026 — XLB rises as copper steadies and miners climb

U.S. basic materials stocks rose on the first trading day of 2026, with the Materials Select Sector SPDR Fund (XLB) up 1.7% to $46.12. Freeport-McMoRan gained 2.25%, Dow Inc climbed 3.81%, and copper futures settled 0.18% higher at $5.64 a pound. The S&P 500 added 0.19%. Investors are watching next week’s labor data and Fed rate cut signals.
Basic materials stocks today: XLB ends 2025 lower as silver slumps, China PMI surprise in focus

Basic materials stocks today: XLB ends 2025 lower as silver slumps, China PMI surprise in focus

Spot silver fell 7.1% and spot gold dropped 0.78% Wednesday as U.S. basic materials ETFs XLB and IYM lost 0.83% and 0.98%. Freeport-McMoRan slid 1.21%, Newmont 1.97%. China’s official PMI rose to 50.1 in December, signaling expansion for the first time in eight months. U.S. markets are closed Thursday for New Year’s Day.

Stock Market Today

  • Toromont Industries Shares Surpass 200-Day Moving Average Amid Analyst Upgrades
    March 20, 2026, 3:37 AM EDT. Toromont Industries Ltd. (TSE:TIH) stock traded above its 200-day moving average of C$170.27 on Thursday, hitting a high of C$196.50. The company boasts a market cap of C$15.69 billion and a price-to-earnings ratio of 31.74. Notably, five analysts maintain a Buy rating, with the average price target raised to C$198.63. Recent earnings showed a C$1.92 earnings per share (EPS) on C$1.42 billion revenue. Toromont also increased its quarterly dividend to C$0.56 per share, yielding 1.2%. Insider activity included a sale of 972 shares at C$201.60 each. The firm's improving fundamentals and upward analyst revisions highlight growing investor confidence in the stock.
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