BZ - Plug Power top industrial gainer while shipping stocks lead losers' pack
Federal Reserve Chair Jerome Powell's noted in his testimony before a House committee earlier this week, that the Fed would not stop tightening monetary policy until there were clear signs that inflation had peaked. Amid fears of recession, the week ending June 24 saw Plug Power (NASDAQ:PLUG) lead the industrial gainer, while Star Bulk Carriers (NASDAQ:SBLK) was the worst decliner. The eleven sectors of the S&P 500 were in the green this week, with SPDR S&P 500 Trust ETF (SPY) finishing (+6.39%) after being in the red for two weeks in a row. However, YTD, the ETF is -17.87%. The Industrial Select Sector SPDR (XLI) rose +3.54%, after two staring at losses for two weeks straight. YTD, XLI is -16.06%. The top five gainers in the industrial sector (stocks with a market cap of over $2B) all gained more than +17% each this week. However, YTD, only one out of these five stocks is in the green. Plug Power (PLUG) +27.93% was
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Plug Power top industrial gainer, while shipping stocks lead losers' pack