Monday Market Update: Energy Sector Struggles Amid Mixed Performances
As of midday Monday, the Energy sector is lagging behind others with a 1.6% decline. Notably, large companies like ONEOK Inc (Symbol: OKE) and ConocoPhillips (Symbol: COP) are facing significant losses, with OKE down 6.7% and COP falling 3.9%. The Energy Select Sector SPDR ETF (Symbol: XLE), which tracks the energy sector, has dipped 1.7% today but is still up 16.68% this year. In contrast, ONEOK has gained 61.13% year-to-date, while ConocoPhillips has decreased by 4.82% over the same period. Together, these two stocks comprise roughly 11.8% of XLE’s holdings.
Utilities Sector Sees Small Gains
Following Energy, the Utilities sector is slightly up by 0.1%. Among large stocks in Utilities, Vistra Corp (Symbol: VST) and NRG Energy Inc (Symbol: NRG) are standing out, showing losses of 3.5% and 2.6%, respectively. The Utilities Select Sector SPDR ETF (Symbol: XLU) is flat today but has surged 31.16% year-to-date. Vistra Corp has an impressive year-to-date gain of 307.22%, while NRG Energy Inc is up 83.08%. Combined, VST and NRG account for about 6.2% of the underlying holdings of XLU.
For a visual overview, here’s a comparison of stock price performance from the past twelve months for the mentioned companies:
Sector Performance Snapshot
The following table shows how various sectors within the S&P 500 are performing in afternoon trading on Monday, revealing that eight sectors are making gains while one is declining.
| Sector | % Change |
|---|---|
| Services | +2.0% |
| Consumer Products | +1.7% |
| Materials | +1.6% |
| Technology & Communications | +1.3% |
| Healthcare | +1.2% |
| Financial | +1.1% |
| Industrial | +0.8% |
| Utilities | +0.1% |
| Energy | -1.6% |
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Also see:
• George Soros Stock Picks
• DRI Options Chain
• Funds Holding SII
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
