Since the Energy Select Sector SPDR FUN (ARCA: XLE) is down roughly 16% over the past month, it may be a good time to shop around for oversold equities in the oil and gas sector. Although investors are concerned about a recession slowing down the economy, natural gas prices are still at record highs.
When Carl Icahn buys shares of stock, it's what is known as the “Icahn lift." This refers to the impact that the so-called "corporate raider" has on purchasing shares of an underlying company.
MARKET UPDATE
Global fixed income and equity markets rallied yesterday on UK intervention
Strong, broad rally
Short-lived?
BOE's move doesn't address fundamental challenges
Euro stocks pared gains
Bonds creeping higher