Energy and Tech Are the Only Two S&P 500 Sectors in the Green

Deep News04:05

On Thursday, nine of the 11 S&P 500 sectors were trading lower, with the index hovering below the breakeven line during afternoon trading. The energy sector led the gains, rising more than 1% and marking one of only two sectors to post a positive performance. The information technology sector was the other gainer, advancing by 0.3%.

In contrast, the real estate, materials, and industrial sectors suffered the steepest losses, each declining by approximately 1%. Within the energy sector, ExxonMobil and Chevron were the top contributors to the rally, with the former climbing nearly 2% and the latter rising more than 1%.

This market movement came alongside a rise in oil prices on Thursday. U.S. West Texas Intermediate crude futures gained nearly 3%, settling above $77 per barrel, while the international benchmark Brent crude surged almost 4%, closing above $82 per barrel. Earlier this week, President Donald Trump remarked that both Exxon and Chevron were "making too much money" due to elevated oil prices caused by the Middle East conflict.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment