Taiyou Nomachi The S&P 500 Materials index closed this trading week with a slight dip of 0.58%. The Materials Select Sector SPDR (NYSEARCA:XLB) also registered a similar drop. A look at the sector's YTD price performance against S&P 500: Copper price rose on Friday following a strong US jobs report suggesting the economy may not be in a recession. Copper (HG1:COM) for delivery in September grew 2.8% on the Comex market in New York, reaching $3.58 per pound. Prices recovered from three consecutive days of losses driven by weak global factory data and flaring U.S.-China tensions after U.S. House of Representatives Speaker Nancy Pelosi's visit to Taiwan. Gold futures finished sharply lower on Friday, as the U.S. jobs report was "bad news for gold bulls," showing employers hired far more workers than expected in July, which propelled U.S. Treasury yields and the dollar higher. Comex gold for December delivery (XAUUSD:CUR) closed -0.9% to $1,791.20/oz, but gold gained 0.5% for the week based on the front-month contract, while Comex silver (XAGUSD:CUR) settled -1.8% for the week at $19.842/oz. Other base metals had a mixed run, with LME aluminium, nickel, tin showing modest gains, while zinc and lead contracting on Friday. Lumber futures (LB1:COM) tumbled 10% for the week, settling at a new 2022 low of $479.20 per thousand board feet. The commodity has fallen close to its 52-week trading low as the housing market showed continued signs of cooling. Take a look at this week's top gainers among basic material stocks ($2B market cap or more): Here are the top decliners for the week: Other materials ETFs to watch: iShares Global Timber & Forestry ETF (WOOD), Materials Select Sector SPDR ETF, Vanguard Materials ETF (VAW), iShares Global Materials ETF (MXI), SPDR S&P Metals and Mining ETF (XME), VanEck Vectors Gold Miners ETF (GDX), iShares MSCI Global Gold Miners ETF (NASDAQ:RING), Global X Copper Miners ETF (COPX).
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