U.S. energy stocks are back on top as sector leads Wall Street for first time since last year

U.S. energy stocks have zoomed higher in August, reclaiming their spot as the undisputed market leader for the first time since late 2022, when the sector was among the few plays that worked during a volatile year for markets.

The S&P 500 Energy Sector Index XX:SP500.10 has risen 9.7% during the first 29 trading days of the third quarter, its most promising start to a quarter since Q4 of last year, Dow Jones Market Data show. Meanwhile, U.S.-traded crude-oil prices have been rising for seven straight weeks, FactSet data show.

At the same time, technology stocks, among the undisputed leaders in terms of their gains year-to-date, have been lagging since the start of the quarter. The S&P 500 Information Technology Sector Index XX:SP500.45 is down 4.5% since the beginning of July, making it the worst-performing sector in that time period.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Redefining America’s 'Energy Communities' Can Boost Clean Energy Investment Where It’s Needed MostCommunities heavily reliant on fossil fuel employment in the powertrain segment, such as those in Michigan, Ohio, and Indiana, can benefit from redefining 'Energy Communities' to boost clean energy investment. For example, a quarter of Monroe County, Michigan's total employment is involved in internal combustion engine vehicle powertrains. Another challenge is the unemployment rate requirement for fossil fuel energy communities.
Source: cleantechnica - 🏆 565. / 51 Read more »

Lionsgate Quarterly Earnings Beat Wall Street’s Expectations as Big Changes LoomLosses narrowed and revenues climbed as film hits such as “John Wick: Chapter 4″ helped power Lionsgate’s quarterly earnings. It’s a time of change for the company, which is expected to be acquired by Hasbro for approximately $500 million. The transaction is expected to close by the end of the year. The company’s library includes hits such as “The Woman King” and “Yellowjackets” as well as the “Naked & Afraid” franchise. “I’m pleased to report a strong financial quarter with another record library performance,” said Lionsgate CEO Jon Feltheimer.
Source: Variety - 🏆 108. / 63 Read more »