By Market News Video Staff, Friday, August 27, 2:38 PM ET
In Friday afternoon trading, the SPDR S&P Metals and Mining ETF (AMEX:XME) is trading higher by almost 3.5% as commodity prices reversed course. This State Street ETF is seeing strong appreciationg from components Peabody Energy (NYSE:BTU), higher by 3.8%; US Steel (NYSE:X), also higher by 3.8%; and Freeport McMoRan (NYSE:FCX), higher by 5.9%.
So far this month, however, XME is lagging the S&P 500 (AMEX:SPY) as investors have shunned commodities given the macroeconomic uncertainties facing the world economy. Through the 26th, this ETF has lost 9.6% in August compared to the S&P 500's loss of 6.7%.
For more ETFs that cover the Metals and Mining sector, visit the ETF Finder or click here for the direct link.
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