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Must-Know Updates from Energy Sector Last Week

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Part 2
Must-Know Updates from Energy Sector Last Week PART 2 OF 7

Have Broader Markets Underperformed Oil?

Equity index

Between November 3 and November 10, 2017, the S&P 400 Mid-Cap Index (IVOO) fell 0.6%. During this period, the S&P 500 Index (SPY) and the Dow Jones Industrial Average Index (DIA) fell 0.2% and 0.5%, respectively. US crude oil active futures rose 2% during this period.

Have Broader Markets Underperformed Oil?

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The European equity index, the FTSE 100 (EWU), and the CAC 40 Index (EWQ) fell 1.7% and 2.5% in the week ended November 10, 2017. Brent crude oil active futures rose 2.3% during this period. These equity indexes could have missed the rise in oil prices.

Sector ETFs

In the week ended November 10, 2017, the Energy Select Sector SPDR ETF (XLE) rose 1.4% and was the third largest gainer on our list of sector-based SPDR ETFs. The Real Estate Select Sector SPDR (XLRE) rose 3.2%, the largest gainer on our list. The Financial Select Sector SPDR ETF (XLF) fell 2.6% and was the biggest loser during this period.

Energy subsector ETFs

Last week, the VanEck Vectors Oil Services ETF (OIH) and the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) rose 4.1% and 3.2%, respectively. The Alerian MLP ETF (AMLP) fell 1.9% over this period. The rise in oil prices could be a key catalyst for these energy ETFs.

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