The calendar this week has market participants' eyes fixed on Thursday, which is the date for the ECB meeting, the UK election, and former FBI Director Comey's testimony in front of the Senate Intelligence Committee. Before then, commentary out of the Deutsche Bank Global Industrials and Materials Summit on Wednesday just might grab some added attention.
Deutsche Bank Global Industrials and Materials Summit (Wednesday, June 7 - Thursday, June 8)
- Why it's important
- With expectations that synchronized global economic growth is unfolding, investors will be interested to hear if the comments from the companies presenting support that view
- Given the deeply cyclical nature of the industrials and materials sectors, there will be great interest in what the companies are saying about business conditions in the U.S. in particular
- There is a wide swath of companies presenting, ranging from airlines like Southwest (LUV) to machinery companies like Caterpillar (CAT) to mining companies like Freeport McMoRan (FCX) to industrial conglomerates like General Electric (GE)
- The S&P 500 industrials and materials sectors have done well so far this year, with year-to-date gains of 7.5% and 7.7%, respectively, yet they are still underperforming the S&P 500, which is up 8.7%. The commentary heard at the conference could contribute either to a narrowing or widening of that performance gap.
- A closer look
- What's in play?
- Industrial Select Sector SPDR Fund (XLI)
- Materials Select Sector SPDR Fund (XLB)
- iShares Transportation Average (IYT)
- iShares U.S. Aerospace and Defense ETF (ITA)
- First Trust Industrials/Producer Durables AlphaDEX Fund (FXR)
- iShares U.S. Industrials ETF (IYJ)
- Vanguard Industrials ETF (VIS)
- iShares U.S. Basic Materials ETF (IYM)
- First Trust Materials AlphaDEX Fund (FXZ)
- Vanguard Materials ETF (VAW)