Energy Stocks Surge as Market Movers in Midday Trading
On Monday, midday trading reveals that Energy companies are leading the market with a 1.6% increase. EQT Corp (Symbol: EQT) is a standout performer, climbing 4.2%, while Exxon Mobil Corp (Symbol: XOM) follows with a rise of 2.8%. The Energy Select Sector SPDR ETF (Symbol: XLE), which tracks this sector, also reports a 1.6% gain for the day and a substantial 9.26% increase year-to-date. However, EQT Corp is down 2.81% for the year, while Exxon Mobil has risen 21.07%. Together, these two stocks represent approximately 24.8% of XLE’s total holdings.
Materials Sector Shows Modest Gains
Next in line is the Materials sector, which is up 0.6%. Notable large stocks in this sector include Mosaic Co (Symbol: MOS), up 6.1%, and Albemarle Corp. (Symbol: ALB) with a 3.7% gain. The Materials Select Sector SPDR ETF (XLB) reflects this trend as well, increasing by 0.3% today and achieving a 10.58% gain so far this year. In contrast, Mosaic Co has seen a decline of 18.39% year-to-date, while Albemarle Corp. faces a 28.68% drop. Collectively, these companies account for about 2.3% of XLB’s underlying assets.
Performance Snapshot of the S&P 500
A closer look at the S&P 500 reveals a mixed day across sectors, with six segments gaining ground while three are seeing declines.
| Sector | % Change |
|---|---|
| Energy | +1.6% |
| Materials | +0.6% |
| Consumer Products | +0.4% |
| Services | +0.4% |
| Technology & Communications | +0.4% |
| Industrial | +0.3% |
| Healthcare | -0.1% |
| Financial | -0.1% |
| Utilities | -0.8% |
Also see:
• High Beta Stocks
• Institutional Holders of IZRL
• NCRA market cap history
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
