Monday was a great day for stocks overall, but one sector absolutely dominated the day: energy. In fact, the Energy Select Sector SPDR Fund (ARCA: XLE) was up more than 6% on the day, nearly double the returns of any other sector.
Since the Energy Select Sector SPDR FUN (ARCA: XLE) is down roughly 16% over the past month, it may be a good time to shop around for oversold equities in the oil and gas sector. Although investors are concerned about a recession slowing down the economy, natural gas prices are still at record highs.
The S&P 500 (NYSEARCA: SPY) 3rd quarter earnings reporting season is fast approaching and it's time to start preparing for what could be a very bad season. While there are some glimmers that inflation has peaked it's still high, biting into the bottom-line outlook, and compounded by supply chain problems both old and new.
As the natural gas Oct. 22 futures retreated from record highs of $9.98 per cubic foot to $8.27 per cubic foot, the SPDR Energy Select Sector Fund (ARCA: XLE) fell by .80%.
The United States Oil ETF (NYSE: USO) dropped 1% but the Energy Select Sector SPDR Fund (NYSE: XLE) gained 0.5% on Wednesday as investors digest mixed data on the strength of the global economy and the outlook for energy dema
The Energy Select Sector SPDR Fund (NYSE: XLE) was up 34.45% year-to-date, alongside major energy names such as Exxon Mobil Corp (NYSE: XOM) and Chevron Corporation (NYSE:
The Energy Select Sector SPDR Fund (NYSE: XLE) is up 31.09% year-to-date, alongside major energy names like Exxon Mobil Corp (NYSE: XOM) and Chevron Corporation (NYSE:
Some may think strong payroll numbers would be good for the stock market. And usually, that would be right. But this morning, futures dipped sharply on a solid jobs report, nonfarm payrolls rose by 528,000 in July, crushing the estimates of 258,000.