S&P 500's Hottest Sector 06/09/11

The S&P 500 is being led in today's trading action by the Basic Materials Sector, which is currently trading up 1.9% from yesterday's close. The best stocks currently trading in that sector are: 1) Allegheny Technologies ATI: Currently trading up 4.7% from yesterday's close to $62.36. Shares of Allegheny Technologies have lost 7% over the past seven trading sessions. 2) CF Industries Holdings CF: Currently trading up 3.9% from yesterday's close to $154.34. Shares of CF Industries are climbing towards their 52-week high of $158.42, which was recently set on May 31st. 3) Freeport-McMoRan FCX: Currently trading up 3% from yesterday's close to $50.30. Shares of Freeport-McMoRan have broken above their 200-day simple moving average (one year daily chart) in today's trading action. 4) Air Products and Chemicals APD: Currently trading up 2.8% from yesterday's close to $93.37. Shares of Air Products and Chemicals have broken above their 50-day simple moving average (one year daily chart) in today's trading action. The stock may be looking to test its 52-week high of $96.00, which was set on May 2nd. 5) United States Steel X: Currently trading up 2.7% from yesterday's close to $43.17. Shares of United States Steel have lost 6% over the past seven trading sessions. Prior to today, the stock had been down five out of the past six trading days.