The S&P 500 is showing a recovery in November, but experts think it’s still too early to tell if October’s lows were this cycle’s rough bottom: the situation hasn’t improved enough to consider the equity markets
With the Energy Select Sector SPDR Fund (ARCA: XLE) up roughly 45% year-to-date, shopping for energy stocks may prove to be more difficult when searching for more upside.
With unrelenting inflationary pressures and interest rate hikes, higher oil prices may prove the tipping point for a global economy already on the brink of recession, the International Energy Agency (IEA) said.
Monday was a great day for stocks overall, but one sector absolutely dominated the day: energy. In fact, the Energy Select Sector SPDR Fund (ARCA: XLE) was up more than 6% on the day, nearly double the returns of any other sector.
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.
The S&P 500 (NYSEARCA: SPY) 3rd quarter earnings reporting season is fast approaching and it's time to start preparing for what could be a very bad season. While there are some glimmers that inflation has peaked it's still high, biting into the bottom-line outlook, and compounded by supply chain problems both old and new.