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Energy Sector Rose amid OPEC’s Deal on November 30

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Energy sector rose

On November 30, the energy sector was the best-performing sector on the NYSE, while the utilities sector was the worst performer. The S&P 500 Index fell 0.27% to 2,198.81 on November 30.

Energy:

  • The energy sector rose on November 30 as OPEC agreed to the output cut deal.
  • The energy sector rose 4.8% on November 30.
  • Marathon Oil (MRO) (+20.80%) and Transocean (RIG) (+17.1%) are the top performers.
  • Cabot Oil & Gas (COG) (-4.1%) and Valero Energy (VLO) (-3.5%) are the bottom performers.
  • Chevron (CVX), a major US multinational energy corporation, rose 2.1% on November 30. Next week, to bid for rights to explore oil and natural gas and develop crude assets in the Gulf of Mexico, Chevron is joining Japan’s Inpex and Petroleos Mexicanos.
  • Read Can Phillips 66 Create a Stable Earnings Model? to learn about Philips 66, a US multinational energy company.

Financials:          

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  • The financials sector rose 1.3% on November 30.
  • Bank of America (BAC) (+4.1%) and Goldman Sachs (GS) (+3.6%) are the top performers.
  • American Tower (AMT) (-3.6%) and Realty Income (O) (-2.3%) are the bottom performers.
  • Bank of America and Goldman Sachs rose on November 30 after Keefe, Bruyette, and Woods upgrade them.
  • Read Is Bank of America’s Rally Over? for analysis on Bank of America.

Materials:

  • The materials sector rose 1.1% on November 30.
  • LyondellBasell Industries Nv (LYB) (+7.9%) and CF Industries Holdings (CF) (+5.5%) are the top performers.
  • Newmont Mining (NEM) (-3.3) and Sealed Air (SEE) (-3%) are the bottom performers.
  • Falling gold prices are weighing on gold producers such as Barrick Gold (ABX) and Newmont Mining (NEM). Stronger US economic data and increasing expectations about the US interest rate hike are weighing on Barrick and Newmont.
  • Read Is Gold Taking Much from the Upcoming Fed Meeting? to understand the impact of the interest rate hike on precious metals and its miners.

Industrials:

  • The industrials sector fell 0.06% on November 30.
  • Flowserve (FLS) (+5.4) and United Rentals (URI) (+5%) are the top performers.
  • Equifax (EFX) (-4.1%) and Stericycle (SRCL) (-3.8%) are the bottom performers.
  • Caterpillar, a US construction machinery and equipment company, rose ~1.8% on November 30. Caterpillar rose to yearly highs. The market expects infrastructure spending to increase under Donald Trump.
  • Read Mixed Bag: Analyzing the Crude Tanker Industry in Week 47 to understand the crude tanker industry.

Consumer discretionary:

  • The consumer discretionary sector fell 0.87% on November 30.
  • Borgwarner (BWA) (+3.3%) and Tiffany & Co. (TIF) (+2.3%) are the top performers.
  • D.R. Horton (DHI) (-3.9%) and Lennar (LEN) (-3.8%) are the bottom performers.
  • Time Warner (TWX), a major multinational media and entertainment company, fell ~1.2% on November 30. On November 29, Time Warner commenced a $1.5 billion debt offering of notes due in 2027.
  • Read A Peek at Netflix’s Playbook for the Domestic Streaming Market for analysis on factors that impact Netflix’s (NFLX) stock price.
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