Materials Lagging Today (SPX, VIX, AA, X)

Volatility is leaving the markets once again today as the market pushes to fresh afternoon highs. The S&P 500 (SPX) is up 10.15, or 0.88%, to 1,169. The CBOE Market Volatility Index (VIX) is down 2.95, or 10.23%, to 25.89. The S&P materials sector is underperforming the broader market with Alcoa AA and U.S. Steel X trading lower. Concerns over Chinese authorities tightening lending once again after a higher-than-expected reading on inflation is weighing on materials stocks. Aluminum futures, however, are up 3.5%.