Shares of major U.S. energy companies experienced widespread declines in the first hour of trading on Friday, subsequent to the recently released subdued earnings reports from oil giants Exxon Mobil Corp. (NYSE:XOM) and Chevron Corp. (NYSE:CVX). The Energy Select Sector SPDR Fund (NYSE:XLE), a gauge for energy sector performance, experienced a 1.7% drop, setting it up for its worst session since the end of January. Chart: Energy Stocks Witness Their Sharpest Decline Since Late January As Major O
Energy Select Sector SPDR Fund (NYSEARCA:XLE – Get Free Report) was the target of some unusual options trading activity on Wednesday. Investors bought 309,586 put options on the company. This is an increase of 160% compared to the typical volume of 119,017 put options. Hedge Funds Weigh In On Energy Select Sector SPDR Fund Hedge […]
Energy Select Sector SPDR Fund (NYSEARCA:XLE – Get Free Report)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $86.12 and traded as low as $85.42. Energy Select Sector SPDR Fund shares last traded at $86.48, with a volume of 17,599,855 shares trading […]
Investors may want to consider putting money to work in a lagging part of the market. According to VanEck CEO Jan van Eck, oil stocks are getting a raw deal.