All eleven sectors remain in positive territory with four up at least 1.0%, including energy (+2.0%).
Key factors driving today’s performance include:
- Support from an extension of crude oil’s rebound off its lowest level since mid-January. WTI crude is up $2.66, or 3.2%, at $86.20/bbl, narrowing this week’s loss to $0.60 or 0.7%.
- Strong showing from top components like Chevron (CVX 158.41, +2.46, +1.6%), ConocoPhillips (COP 111.31, +2.99, +2.8%), and EOG Resources (EOG 122.55, +4.24, +3.6%) and gains in all remaining components helping the sector return into positive territory for the week (+0.2%) versus a 3.3% week-to-date gain in the S&P 500 (+1.2%).
- TechnipFMC (FTI 9.06, +0.44, +5.1%): best performer in the sector, revisiting its mid-August high (9.10).
- EOG Resources (EOG 122.55, +4.24, +3.6%): revisiting this week’s high (123.46).
- Halliburton (HAL 29.40, +0.99, +3.5%): rising back above its 50-day moving average (29.17). Company sold its remaining operations in Russia.
- Schlumberger (SLB 39.27, +1.10, +2.9%): rising to a fresh high for the month.
- ConocoPhillips (COP 111.31, +2.99, +2.8%): rising toward this week’s high (111.68).
- Hess (HES 121.38, +3.28, +2.8%): approaching this week’s high (122.58).
- NOV (NOV 17.47, +0.46, +2.7%): rising back above its 200-day moving average (17.17).
- Marathon Oil (MRO 26.18, +0.57, +2.3%): hit a fresh high for the month before narrowing its gain.
- Williams Companies (WMB 32.59, +0.59, +1.8%): trading between its 200-day (31.88) and 50-day moving averages (33.04).
- Chevron (CVX 158.41, +2.46, +1.6%): rising toward this week’s high (159.99). Company was granted an interest in three greenhouse gas assessment permits off the coast of Australia.
- Exxon Mobil (XOM 96.03, +1.12, +1.2%): trading near its September high (96.79).
- Occidental Petroleum (OXY 64.82, +0.34, +0.5%): weakest performer in the sector, trying to remain just above its 50-day moving average (64.24). Stock went ex-dividend today.
Full Disclosure: Benefits and compensation are received through endorsements.
There’s a lot of noise in the stock market every single day. New and seasoned investors alike need help filtering the news, data points and catalysts that are relevant to them. This is where it’s helpful to implement our VipLiveAlerts-Pro notification network to help you responsibly manage your assets and stay aware of changes that might affect your portfolios.
Disclaimer: This content is only intended for informational purposes. Before making any investment, you should always do your own research and analysis.
The best stock news travels fast! However, it travels even faster when shared by dedicated viewers like you. Help power the wealth movement and share your favorite VipLiveAlerts-Pro news today!