The Energy Select Sector SPDR ETF (XLE) fell 1.35% in the week to June 19. The ETF tracks a diverse group of ~45 of the largest US energy stocks.
The XLF ETF is focused on the financials. It tries to deliver investment results that correspond with the price and yield performance of the Financial Select Sector Index.
The US airline industry posted one of the strongest profitability reports in 1Q15, a quarter that has been traditionally weak. Net income for 1Q15 grew by ~371%, compared with 1Q14.
As part of XLK, EA Sports rose 41.66% YTD, driven by positive feedback and company outlook on the sales of its hotly anticipated Star Wars: Battlefront multiplayer game. The company projects it will sell ~10 million copies of the game in 2016.
Coty, Inc. has won three auctions to purchase some of Proctor & Gamble’s beauty brands. Coty reportedly won the auctions for the P&G divestitures for an estimated $12 billion.
On the commodity side, iron ore and coal form almost two-thirds of the dry bulk shipping industry. China is the biggest consumer of these two commodities.
US equities rose last week on flat inflation, a rise in leading economic indicators, and the expectation that interest rates will rise but only slowly.
Fundamentals of the steel industry have been quite weak over the last couple of quarters. US spot steel prices recently plunged to levels last seen during the 2008 financial crisis.
August WTI crude oil futures contracts trading in NYMEX rose for the second day by 1.33% and closed at $61.01 per barrel on Tuesday, June 23, 2015.
Investors can use the restaurant indicators discussed in this series to gauge general trends and determine where the industry is headed.
Crestwood Midstream Partners (CMLP) was the biggest gainer among midstream MLPs at the end of trading on Tuesday, June 23.
In the last five trading sessions ending June 19, 2015, the broader-market-based S&P 500 Index (SPY) rose by 0.73%.
The FOMC released its June 2015 monetary policy statement last week. Policymakers toned down their expectations for a rate hike in 2016 and 2017.
Brent and WTI crude oil prices closed at $63.02 per barrel and $59.61 per barrel, respectively, on Friday, June 19. Prices fell on Friday after Greece’s negotiations with its creditors were pushed to next week.
Many of the emerging markets that were viewed as risky or even dangerous a mere 15 years ago now appear to be more attractive than many developed countries.
On June 10, 2015, Microsoft acquired BlueStripe—an application management technology provider. The financial details of the acquisition weren’t disclosed.
On June 21, Anthem (ANTM) filed a bear hug letter for Cigna (CI). A bear hug letter is a formal press release in which an acquiring company discloses its interest in a target company.
Williams Partners shares tanked by 7.6% yesterday, apparently due to the rejection of Energy Transfer Equity’s $53.1 billion merger proposal to acquire Williams Companies.
The Federal Open Market Committee’s June statement didn’t elicit a strong reaction in either direction from investment-grade bonds, especially not from Treasuries.
The natural gas inventory has risen over the past few weeks as injection season has started.