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Industrials SPDR holds up despite rough sessions for CAT and GE

Published 01/28/2019, 01:39 PM
Updated 01/28/2019, 01:39 PM
© Reuters.  Industrials SPDR holds up despite rough sessions for CAT and GE
  • Caterpillar (NYSE:CAT) is down 10% after disappointing earnings and guidance, and GE is lower by 3.3% after JPMorgan (NYSE:JPM) bear Stephen Tusa questions the Wabtec-related rally.
  • The two names, however, are more modest holdings of the Industrial Select SPDR (NYSEARCA:XLI) than one might have thought. Each comprise about 3.8% of the fund, making CAT and GE the 6th- and 7th-largest holdings, respectively.
  • Topping the XLI is Boeing (NYSE:BA) at 9.1%, with Union Pacific (NYSE:UNP) next at 5.6%, then 3M (NYSE:MMM) at 5.4%.
  • The XLI is down just 1.1% today, besting the S&P 500 by a handful of basis points.
  • Now read: A New Low For Copper In The New Year - Time To Put SCCO On The Radar


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