XLI slides as investors de-risk ahead of GDP and PCE inflation prints
XLI•XLI fell about 1% as U.S. industrials traded lower ahead of key macro releases at 8:30 a.m. ET on April 30 (Q1 GDP advance estimate and March personal income/PCE inflation). Rate- and growth-sensitive cyclicals also faced pressure from weakness in large XLI constituents like Boeing, where post-earnings profit-taking weighed on the aerospace complex.
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What XLI is (and what it tracks) XLI (Industrial Select Sector SPDR ETF) is designed to track the Industrial Select Sector Index, which represents the industrial sector within the S&P 500. Its exposure spans aerospace & defense, machinery, transportation and logistics, electrical equipment, industrial conglomerates, and related industrial services—so it tends to be highly sensitive to changes in growth expectations, freight/transport activity, and interest rates. (ssga.com)
