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Energy Select Sector SPDR Fund (XLE)
After hours:
| Previous close | 96.63 |
| Open | 95.76 |
| Bid | 95.79 x 3100 |
| Ask | 95.87 x 1200 |
| Day's range | 94.76 - 96.11 |
| 52-week range | 76.25 - 98.97 |
| Volume | |
| Avg. volume | 16,345,077 |
| Net assets | 39.71B |
| NAV | 96.65 |
| PE ratio (TTM) | 8.86 |
| Yield | 3.09% |
| YTD daily total return | 16.18% |
| Beta (5Y monthly) | 0.68 |
| Expense ratio (net) | 0.09% |
| Inception date | 1998-12-16 |
- Yahoo Finance Video
Energy: Exxon, Chevron drag sector amid geopolitical risks
The energy sector (XLE) is underperforming in Friday's trading session, following disappointing results from industry leaders Exxon Mobil (XOM) and Chevron (CVX). S&P Global Vice Chairman Daniel Yergin joined Yahoo Finance to discuss the geopolitical risks looming over the oil market. Yergin acknowledges that the current calm within the oil market will "entirely depend" on exogenous events. He notes that oil prices have reverted to levels pre tensions between Iran and Israel, which initially caused a slight uptick: "There's been a tug-of-war between geopolitics and the fundamentals of supply and demand," Yergin says. "In terms of the oil industry, they're commercial animals," Yergin tells Yahoo Finance, adding, "Their incentive is to produce as much as they can." However, he cautions that concerns about future production softening persist within the industry. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Angel Smith
- Yahoo Finance Video
The market is saying there's no 'growth problem': Strategist
Despite Thursday's weaker-than-expected GDP figure, which hinted at a slowing economy, Truist Co-Chief Investment Officer and Chief Market Strategist Keith Lerner joins Market Domination to explain why this number doesn't accurately reflect the economy's growth trajectory. Lerner argues that the GDP data was fine "underneath the hood," showing that consumers and businesses were still spending, and underlying demand remained robust. He notes, "the market's hanging in there relatively well," emphasizing that a deeper examination of the GDP components revealed "there's still solid economic growth." On the inflation front, Lerner acknowledges that he had anticipated a post-pandemic economic slowdown. However, even with solid growth, he remains optimistic that inflation can be brought down to the 2% target. Addressing concerns about stagflation, he states, "It's a risk, not our base case." Lerner points to the strong performance of the energy (XLE), financials (XLF), and industrials (XLI) sectors as evidence that "the market is telling you that we don't have a growth problem at this point." This market behavior reinforces his view that the underlying economic fundamentals remain robust, despite the weaker GDP reading. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Angel Smith
- Yahoo Finance Video
Potential escalation in Middle East raises oil price concerns
US officials have warned of an imminent attack on Israeli assets by Iran or proxies, potentially causing a wider conflict in the Middle East. Oil Prices (BZ=F, CL=F) could be impacted as the escalation pours further doubt on oil production in the region. Senior Columnist Rick Newman joins Yahoo Finance to break down the potential of a wider conflict in the Middle East and how that may impact the energy sector. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance. This post was written by Nicholas Jacobino
