Wall Street upgrades Materials to overweight

seekingalpha10-02

Bank of America’s global research team upgraded the Materials sector of the economy to overweight from market weight on Tuesday, as the financial institution indicated that the segment has more upside...

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Supporting its view on Materials is the stimulus boost out of China, and the Fed cutting rates. Regarding China, BofA said, “Materials has the highest correlation of the 11 sectors and the 2nd highest beta to MSCI China.” From an FOMC perspective, the bank added: “Materials saw the biggest earnings swoon of all sectors since hiking began, suggesting the biggest potential upside in earnings on an accelerating profits cycle amid Fed cuts. Materials’ operating leverage is forecast to be 2nd highest in 2025, where Energy is #1.” While BofA’s research team is optimistic on Materials, the group did indicate that there are some risks for the sector. Specifically, if there is a meaningful U.S. growth slowdown and a short-lived stimulus impact on China. For investors looking to further track the performance of the Materials sector of the S&P 500, they can look towards exchange traded funds that are geared towards the area. Some funds worth noting are as follows: Materials ETFs: (NYSEARCA:XLB), (NYSEARCA:VAW), (NYSEARCA:IYM), (NYSEARCA:FXZ), (MXI), and (RSPM).","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2472302166"}