The largest exchange-traded fund to track the materials sector rallied on Monday, hitting an all-time high and extending its strong year-to-date performance. The fund rose 1.3% in its biggest one-day percentage gain since October. The materials sector was part of a broad move higher in stocks, which came as investors cheered the weekend passage of the Senate version of a sweeping overhaul of the U.S. tax code. Among the fund’s biggest gainers, DowDuPont Inc. rose 1.9%, contributing the bulk of the ETF’s move higher. Sherwin-Williams Co. jumped 3.5% while Ball Corp. was up 3.2%. Thus far this year, the materials ETF is up more than 20%, above the 18.5% rise of the S&P 500 .
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News