Basic materials stocks face a copper reality check after the long weekend as XLB slips
cNEW YORK, Jan 17, 2026, 14:40 ET — Market closed. Basic materials stocks slipped to finish the week, with the Materials Select Sector SPDR ETF (XLB) dropping 0.6% on Friday. The S&P 500 Materials sector index also edged lower, falling 0.44%. (Investing.com) This shift is significant since the sector has heavily relied on copper’s rally, which just faltered. Prices slipped after briefly topping $13,000 a metric ton on the London Metal Exchange this week. Reuters Breakingviews linked the earlier surge partly to worries over tariffs. (Reuters) “Metals have faced pressure this week as China dialed back risk and officials moved