Energy sector versus the Market
From June 9–16, 2016, the Energy Select Sector SPDR ETF (XLE) outperformed other market sectors. It fell ~3.2%. Let’s find out how XLE performed compared to other SPDR ETFs.
XLE outperformed other SPDR ETFs
Other SPDR ETFs
The utility (XLU) sector rose the most. Between June 9 and June 16, XLU rose 0.15%. The Fed kept the key interest rate unchanged on June 15. It was followed by weak US non-farm payroll data on June 3. This helped utility stocks gain.
The above table shows XLE’s performance compared to the ETFs representing other sectors between June 9 and 16.
Crude oil could close on a positive note this week. Last week, it rose 0.9%. The potential for continued downside in crude oil prices is an important factor for oil-weighted stocks such as RSP Permian (RSPP), Abraxas Petroleum (AXAS), and Clayton Williams Energy (CWEI).
In the next part, we’ll see what drove energy ETFs’ performance.