Chesapeake Energy: S&P 500’s Top Gainer on September 14



Top gainers

The S&P 500’s top gainers on September 14, 2017, were:

  • Chesapeake Energy (CHK) rose 4.1%.
  • Michael Kors Holdings (KORS) rose 3.5%.
  • Kimco Realty (KIM) rose 3.2%.
  • Range Resources (RRC) rose 2.9%.
  • Regency Centers (REG) rose 2.9%.
Article continues below advertisement

Chesapeake Energy

Chesapeake Energy, a US company that produces and explores petroleum and natural gas, was the S&P 500’s top gainer on Thursday. The rise in natural gas and crude oil prices on September 14 boosted Chesapeake Energy’s stock prices.

Natural gas rose this week as the market started to recover from the impact of Hurricane Harvey and Hurricane Irma. Crude oil rose in the first four trading days this week amid improved market conditions and decreased geopolitical concerns. The increased demand outlook amid the lower global crude oil supply improved the market’s crude oil sentiment. Crude oil traded at $50 per barrel for the first time in more than a month. Brent crude rose to the highest levels since April. With increased upward momentum, energy sector stocks moved higher on Thursday. The Energy Select Sector SPDR ETF (XLE) rose 0.5%.

On September 14, Chesapeake Energy rose 4.1% and closed the day at $4.1—the highest close in a month.

Kimco Realty 

Kimco Realty, a real estate investment trust in New York, was one of the S&P 500’s top gainers on Thursday. The stock regained strength on Thursday after management discussed how Hurricane Irma damaged the company’s assets. According to the announcement, there wasn’t any major damage except minor water intrusion and landscaping damage. The announcement boosted the stock’s sentiment and pushed it to the highest levels in a week. On September 15, Kimco Realty rose 3.2% and closed the day at $20.50.

In the next part, we’ll discuss how commodities are performing in the early hours on September 15.


More From Market Realist