Materials Select Sector SPDR Fund (XLB)
Freeport-McMoRan Copper & Gold (FCX) makes up 9.5% of XLB and is expected to have earned $1.92 per share in the previous quarter when the firm reports on Wednesday. FCX shares were hit hard during Friday's sell-off, sliding more than iPath Copper ETN (JJC), Southern Peru Copper (EPU) and SPDR Gold Shares (GLD), and also narrow mining ETFs such as Market Vectors Gold Miners (GDX).
FCX recently failed to surpass its January 2010 high and shares have been declining since the start of April. Shares are closer to taking out recent lows rather than recent highs.
-- Written by Don Dion in Williamstown, Mass.
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