Industrial stocks ETF rises most in a month as oil prices decline
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An exchange-traded fund whose holdings consist of large-cap industrial companies today rose the most in a month as oil prices fell, helping to ease investor concerns about inflation.
The Industrial Select Sector SPDR ETF (NYSEARCA:XLI) climbed 1.6% to close at $93.79 for the biggest gain since Aug. 10. The closing price was the highest since Aug. 29.
The gains came as oil prices plunged to the lowest level since mid-January, more than a month before Russia's invasion of Ukraine led to a surge in energy prices. U.S. oil futures (CL1:COM) fell 5.9% to end at $81.79 a barrel. Brent crude (CO1:COM), the global benchmark for oil, dropped 5.2% to close at $87.50.
Oil prices declined after China reported weaker-than-forecast trade data, spurring concerns about the health of the global economy. Adding to the selling pressure was a Wall Street Journal report that the Federal Reserve this month might hike interest rates by 0.75 percentage point to tackle inflation.







Industrial Select Sector SPDR Fund -Top Holdings as of Sept. 6


Company (Ticker)
Closing price - Sept. 7
% change


United Parcel Service (UPS)
 $196.29
0.17%


Union Pacific Corp. (UNP)
 $228.79
0.36%


Raytheon Technologies (RTX)
 $87.45
0.33%


Honeywell International (HON)
 $189.09
1.88%


Deere & Co. (DE)
 $365.94
1.35%


Lockheed Martin (LMT)
 $420.14
0.56%


Caterpillar (CAT)
 $180.86
0.11%


Boeing (BA)
 $155.95
2.34%


General Electric (GE)
 $73.58
1.97%


Northrop Grumman (NOC)
 $487.78
1.68%