Energy: Second-Best-Performing Sector in S&P 500 This Week


Jun. 22 2018, Updated 8:22 a.m. ET

S&P 500 down marginally

From June 18–20, the S&P 500 Index (SPY) decreased marginally by 0.42%. Last week’s close was $2,779.66, and by June 20, it was $2,767.32. It fell on June 18 and June 19 but then recovered most of its losses on June 20.

Since it hit bottom in February, the S&P 500 (SPY) has made a series of higher lows on the daily chart but so far hasn’t produced a higher high. A new uptrend in the S&P 500 will happen only if it moves above $2,801.90, the high point of the rally since February.

Currently, the S&P 500 is trading above its 50-day and 200-day moving averages. As of June 20, it was trading at $2,767.32. Its 50-day and 200-day moving averages were $2,710.86 and $2,660.25, respectively.

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Which S&P 500 sectors are declining this week?

Here are the two sectors that are leading the decline in the S&P 500 Index this week:

  • industrial sector: Industrial Select Sector SPDR ETF (XLI) – fell 2.5%
  • materials sector: Materials Select Sector SPDR ETF (XLB – fell 2.4%

How is the energy sector performing this week?

Despite mixed performances from energy commodities, the energy sector is turning out to be the second-best-performing sector in the S&P 500 this week. From June 18–20, the Energy Select Sector SPDR ETF (XLE), which represents the energy sector of the S&P 500 Index, increased 1.2%. Just like SPY, XLE is trading above its 50-day and 200-day moving averages.

As for the energy subsectors, the SPDR S&P Oil & Gas Exploration & Production ETF (XOP), which holds stocks across the energy industry, is leading the rise. XOP has 78% exposure to the oil and gas exploration and production industry. It rose 4.8% from June 18–20.

The VanEck Vectors Oil Services ETF (OIH) and the Vanguard Energy ETF (VDE) have risen 0.27% and 1.7% respectively, in the same period, whereas the VanEck Vectors Oil Refiners ETF (CRAK) has fallen 1.2%.

In this series

In this series, we’ll look at energy commodities and energy subsector performances. Specifically, we’ll look at the companies with the top gains and losses in the upstream and oilfield services sectors from June 18–20. We’ll also analyze the news and developments behind the moves.

Let’s start by seeing how energy commodities are performing this week.


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