A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. The S&P 500 index’s energy sector has popped roughly 17% this year, making it the second-best performing category of the benchmark index behind communication services.
Shares of clean energy companies, many of which are growing companies trying to load up on capital, were hammered in 2023 by high borrowing costs. That trend has continued in 2024. The iShares Global Clean Energy exchange-traded fund, which tracks the performance of sectors from renewable electricity to semiconductors to solar energy, has slid roughly 11% this year.
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