S&P 500 up marginally
On Thursday, June 14, the S&P 500 Index saw a marginal increase of ~0.2% for the week. It rose from the previous week’s close of $2,779.03 to $2,782.49 on June 14. The S&P 500 Index is currently making a series of higher lows on the daily chart, but it hasn’t been able to produce a higher high so far.
A new uptrend in the S&P 500 could be confirmed only if it makes a higher high by moving above $2,801.90, which is the high point of the rally from its bottom in February.
The S&P 500 Index is trading above its 50-day and 200-day moving averages. On June 14, the S&P 500 Index traded at $2,782.49. Its 50-day and 200-day moving averages stood at $2,699.94 and $2,654.09, respectively.
The SPDR S&P 500 ETF Trust (SPY) seeks to provide investment results that correspond generally to the price and yield performance of the S&P 500 Index.
Which S&P 500 sectors are gaining this week?
How is the energy sector performing this week?
Due to the mixed performance from energy commodities, the energy sector is the third-lowest performer from the S&P 500 Index this week. As of June 14, the Energy Select Sector SPDR ETF (XLE), which represents the energy sector of the S&P 500 Index, decreased ~0.77%. Like SPY, XLE is also trading above its 50-day and 200-day moving averages.
As for the energy sub-sectors, the VanEck Vectors Oil Refiners ETF (CRAK) is leading the decline within the energy space. CRAK is down ~2.3% for the week.
In this series
In this series, we’ll look at the performance of the energy commodities and energy subsectors. We’ll also look at the companies with the largest gains and losses in the refining and marketing sector, as well as the integrated energy sector. We’ll also analyze the news and developments behind these moves.
Next, we’ll see how energy commodities are performing this week.