Marathon Oil and Denbury Resources Take SPY Down

The US stock market witnessed the stocks rally on September 8. However, it saw all of its sectors go red on September 9, 2015. The following graph show the extent of the fall in the component sectors of the SPDR S&P 500 ETF (SPY) on Wednesday, September 9.

As you can see, the energy sector was hit the worst. Oil prices continued to fall because the supply of oil was still greater than its demand. The United States Oil Fund LP (USO) fell by 3.40% on September 9, 2015.

Netflix (NFLX) got investors’ attention on September 9. It rose by 4.45%. The rise in the stock price came after the company’s announcement on Tuesday about catering its video-streaming services to four new Asian countries early next year. The countries are South Korea, Singapore, Hong Kong, and Taiwan. The markets are favorable given the hi-speed internet infrastructure and market for the latest electronic devices in these countries. The company is already popular for its TV shows and movie streaming. The channel’s viewership has certainly added to US investors’ confidence in Netflix stocks.

Freeport-McMoran (FCX) and Yahoo! (YHOO) rose 3.17% and 2.01%, respectively, on September 9. Freeport-McMoran stocks rose with the rise in copper prices. The copper commodity is expected to fall in supply after Glencore’s (GLEN) decision to close two of its African copper mines on September 8. Copper futures for September delivery rose by 0.80% on the day.

The stocks at the bottom were Marathon Oil (MRO), Denbury Resources (DNR), and Stericycle (SRCL). These stocks yielded -8.64%, -7.49%, and -6.43%, respectively, on September 9, 2015.

Next, we’ll take a look at the stock market in the United Kingdom.