ORGN - Basic material weekly wrap: Fed drives metal prices higher Aluminum and copper hits high

Material tops the sector list with a 2.79% gain contradicting the S&P 500 loss of 0.37%. Materials Select Sector SPDR ETF (NYSEARCA:XLB) up 2.53% in the last week compared to SPDR S&P 500 Trust ETF loss of 0.11%. Industrial, technology, communication services and consumer discretionary dragged S&P 500 index lower, while materials, energy, financials, health care, real estate and consumer staples pushed the index higher. Prices for copper and other industrial metals rose during the week following Federal Reserve Chairman Jerome Powell's comments that the central bank is unlikely to hike rates anytime soon. Copper surges to six-week high as China floods hit supply, while Aluminum jumped to three-year highs The week's top five gainers among Basic Materials stocks ($300M market cap or more) were: Golden Star Resources (NYSE:GSS) +26.8% The company offsets last week's loss of 10% by gaining 25% following Q2 release. New Pacific Metals (NYSE:NEWP) +20.7%. The company commenced a 38,000

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Basic material weekly wrap: Fed drives metal prices higher, Aluminum and copper hits high