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Wall Street Pulled Back on September 25, Decreased Risk Appetite

PART:
1 2 3 4 5
Part 3
Wall Street Pulled Back on September 25, Decreased Risk Appetite PART 3 OF 5

Helmerich & Payne Rose, Energy Sector’s Sentiment Improved

Helmerich & Payne

Helmerich & Payne (HP), a leading global oil and gas drilling contractor, rose on September 25, 2017.

Helmerich &amp; Payne Rose, Energy Sector&#8217;s Sentiment Improved

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The improved sentiment in the energy sector supported Helmerich & Payne’s stock prices on September 25. New concerns about supply along with the improved demand outlook for crude oil added momentum to the energy sector. The expectations about extending the supply cut agreement also strengthened the oil prices. As a result, companies in the energy sector gained strength on Monday. The S&P 500 energy sector index rose 1.5%.

On September 25, Helmerich & Payne rose 3.8% and closed the day at $52.94—the highest intraday close in almost a month.

CenturyLink

CenturyLink (CTL), which is a US telecommunications provider, rose on Monday. It was the S&P 500’s second-highest gainer on Monday.

The market sentiment on CenturyLink improved last week after a weak start. Last week, CenturyLink announced its plans to provide managed Wi-Fi services, which supported the stock. CenturyLink provides managed Wi-Fi services to large businesses. It plans to extend the services to small and midsize businesses. Providing the managed Wi-Fi services requires real-time monitoring to increase better service for large businesses. According to management, by extending the managed Wi-Fi services, CenturyLink is trying to a maximum value at the price point for small and midsize businesses.

On September 25, CenturyLink rose 4.3% and closed the day at 19.34—the highest daily close in three weeks. The S&P 500 Telecom Services Index rose 0.86% on Monday.

In the next part, we’ll discuss the S&P 500’s top losers on Monday.

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