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Strategies & Market Trends : Market Trends & Market Chatter (Investment Ideas)
TIGR 10.78+2.8%Oct 31 9:30 AM EDT

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From: Ms. Baby Boomer5/27/2022 11:16:42 AM
   of 4369
 
Energy tracking solid gain for the week...

[BRIEFING.COM]

The major averages remain near their best levels of the session with the S&P 500 (+1.5%) trailing the Nasdaq (+2.2%).

All eleven sectors are on track to register solid weekly gains, ranging from 2.3% (health care) to 7.8% (consumer discretionary). The energy sector (+0.6%) is the second-best performer of the week, having climbed 7.1%. The sector is now up 15.8% for May and up 14.0% since the end of Q1. The sector trades higher today even though crude oil holds a modest loss. The energy component is down $0.34, or 0.3%, at $113.75/bbl. With today's dip, oil has narrowed this week's gain to $0.56 or 0.5%.

Just about every component of the energy sector trades higher with five reaching fresh 52-week highs. Phillips 66 (PSX 101.51, +2.83, +2.9%) is the top performer while Conoco-Phillips (COP 112.65, -0.50, -0.4%) holds a modest loss....

M
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