Wall Street Weekahead: Record-breaking rally leaving energy stocks behind

NEW YORK - The stock market surge since the start of the year that has sent the benchmark S&P 500 index up to new record highs is leaving behind one sector that typically outperforms in an expanding economy: energy.

Weak gasoline and petrochemical margins along with record U.S. crude production have weighed on refiners and integrated oil companies this year, yet fund managers and analysts say that energy stocks must also jump the high hurdle of negative investor sentiment before they can catch up to or even lead the broad market higher.

Oil prices are up by more than 35% since the start of the year, due in part to higher-than-expected global demand, production cuts from OPEC and the effect of U.S. sanctions on Venezuela. Economists expect the price of both Brent crude and U.S. light crude to stay above $60 for the rest of this year, according to the latest Reuters poll.

Noah Barrett, an analyst who works on several funds at Janus Henderson Investors, said the outsized gap between the gain in oil prices and the muted performance of energy stocks may help fuel a “catch-up trade” later this year. Yet for that to happen, companies must prove to investors that they can keep a lid on spending, he said.

:*

Switzerland Neuesten Nachrichten, Switzerland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Busy Week Of Data, Earnings Ahead For Wall Street After Record ClosesAfter record-setting closes last week, the market seems to be anticipating another busy week of earnings, a calendar full of economic reports and a rate decision from the Federal Reserve
Herkunft: Forbes - 🏆 394. / 53 Weiterlesen »

Apple's stock is surging, but Wall Street analysts thought earnings results were just 'fine'Wall Street analysts see Apple headed in the right direction after its earnings report Tuesday, but were less optimistic than the market. It’s all a game of Smoke & Mirrors. AppleSupport Apple They've stopped caring for customers.. Many like me are facing pathetic attitude of AppleSupport towards their customers. case ID: 100800933452 & Case ID: 20000042499650 Of course, because Wall Street wants to control and manipulate all stocks.
Herkunft: CNBC - 🏆 12. / 72 Weiterlesen »

Fed and tech stocks could crack the market rally, warns Wall Street strategistOur call of the day, from Miller Tabak Asset Management’s strategist, Matt Maley, warns that any shift in the Fed’s dovish stance this week could cause this...
Herkunft: MarketWatch - 🏆 3. / 97 Weiterlesen »

Major Wall Street banks are telling clients to be ready for a sudden rip higher in the marketWall Street firms have a playbook for a potential rapid move higher in stock markets.
Herkunft: CNBC - 🏆 12. / 72 Weiterlesen »