The Materials Select Sector SPDR Fund XLB, +0.59% pushed to a fresh high Monday as investors embraced the cyclical trade: stocks that stand to benefit from building and construction. The exchange-traded fund, the largest tracking the sector, touched an intraday high of 83.88, up 0.8%, on the strength of stocks like Freeport-McMoRan Inc. FCX, +6.87% and Albemarle Corporation ALB, +5.79%, both among the biggest gainers in the S&P 500 SPX, +0.18%. The Vanguard Materials ETF, a competitor, gained 0.9% midday.
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