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Energy is the top performing sector this year by a wide margin. The SPDR Energy ETF (XLE) has advanced 13 percent so far in 2021, compared with a 0.3 percent gain for the S&P 500.
Hopes about the economy reopening and a rebound in China are obviously parts of the story. But the supply/demand fundamentals may be improving as well.
Last week, the Energy Department reported a 3.2 million barrel drop in crude-oil inventories. That was bigger than then 2.3 million drop anticipated by forecasters. It was the third straight week that the number showed less of a glut than feared — the longest week of bullish surprises since September 2019.
Energy stocks have led the market this year, and now they've pulled back. The S&P Select Energy SPDR fund (XLE) jumped to $98.97 last Friday -- the highest level in almost a decade. It pulled back this week and touched $93.73 before bouncing. That was just $0.04...
Uranium miner Cameco has been stuck at an old high, and one big options trader is bracing for a potential drop as earnings approach. This large transaction was detected yesterday in CCJ, unfolding in several blocks over the course of the afternoon: Some 30,000 May 45...
Regional banks had a big surge in late 2023. Now, after a period of consolidation, some traders may expect further gains. The first pattern on today’s chart of the SPDR S&P Regional Banking ETF is the falling trendline along the highs of January and early March....