2 Oct

Major Equity Indexes and the Energy Sector Last Week

WRITTEN BY Rabindra Samanta

Equity indexes

On September 22–29, 2017, the S&P 400 Mid-Cap Index (IVOO) rose 1.5% and outperformed our list of US equity indexes during this period. In Part 1 of this series, we discussed the price performance of the S&P 500 Index (SPY) and the Dow Jones Industrial Average Index (DIA) during this period.

US crude oil prices rose 2% during this period. The S&P 400 Mid-Cap has a 3%–4% allocation to the energy sector. For the S&P 500 Index and the Dow Jones Industrial Average Index, the allocation to the energy sector is 6%–7%.

The FTSE 100 Index (EWU) and the CAC 40 Index (EWQ) rose 0.8% and 0.9% in the seven calendar days to September 29, 2017. Both of these equity indexes have over a 10% allocation to the energy sector. Last week, Brent crude oil active futures rose 1.2%.

Major Equity Indexes and the Energy Sector Last Week

SPDR ETFs

Last week, the Energy Select Sector SPDR ETF (XLE) rose 1.9% and was the largest gainer among the sector-based SPDR ETFs. The Utilities Select Sector SPDR ETF (XLU) fell 0.3% during this period. It was the only loser in our list of SPDR ETFs.

Energy subsector ETFs

Last week, the VanEck Vectors Oil Services ETF (OIH) rose 3.4% and was the largest gainer among the major energy subsector ETFs. Among the other major energy subsector ETFs, the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) and the Alerian MLP ETF (AMLP) rose 3.2% and 1% during this period.

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