From Chris Ciovacco: The market had low expectations heading into this week’s OPEC meeting. Then the story broke Wednesday afternoon, and oil futures surged.
The Energy Select Sector SPDR ETF (NYSE:XLE) is bound to see increased attention this week, with a couple of big M&A deals just announced.
The Energy Select Sector SPDR ETF (NYSE:XLE) is on watch this morning, with oil prices pulling back amid reports that Iraq will boost its export levels.
This weekend’s issue of venerable business magazine Barron’s took an in-depth look at what types of equities would likely feast or famine if Donald Trump becomes president.
Chris Ciovacco: While the performance ratio of stocks to bonds may be a good indicator of where the markets are headed, the energy sector may well prove to be the biggest catalyst for the next push higher.
NYSE:XOM, NYSE:CVX, NYSE:PSX
NYSEARCA:USO, NYSEARCA:UCO, NYSEARCA:OIL, NYSEARCA:BNO, NYSEARCA:UWTI
NYSE:HP, NYSE:COP, NYSE:PSX
NYSEARCA:XLE, NYSE:TOT, NYSE:BP, NYSE:STO
NYSE:KMI, NASDAQ:BBEP, NASDAQ:LINE, NYSE:EOG