US equities are being pulled down by the energy sector once again

Jay Soloff

Argonath Financial

US equities are being pulled down by the energy sector once again. The S&P 500 is off 1.1% and continues to retreat from record highs. The culprit is once again crude oil, with futures trading at just over $60 a barrel. Oil futures are down nearly 5% today on greater than expected supplies, as well as demand concerns brought forth by OPEC. Falling crude prices are hammering energy stocks, which are down over 4% today and over 9% for the week. Over the same week period the S&P 500 has only declined 1.75%. Clearly, energy is taking it on the chin relative to the broad market. Keep in mind, oil this cheap is generally good for the global economy, so outside of energy this decline should eventually result in higher overall stock prices, all things being equal.


MORE ON



Research Analyst
Argonath Financial

I'm an investments analyst for a US-based independent investment research firm. My focus is on economics, options, and all types of stocks, but especially tech, Internet, and renewable energy companies. I have experience as a options market...

Expertise

No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.