FINWIRES · TerminalLIVE
FINWIRES

Sector Update: Energy

By

Energy stocks were advancing premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.2% higher.

The United States Oil Fund (USO) was up 1.1% and the United States Natural Gas Fund (UNG) was 1% higher.

Front-month US West Texas Intermediate crude oil was 0.9% higher at $102.81 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 1.9% to $110.17 per barrel, and natural gas futures were up 0.4% at $2.79 per 1 million British Thermal Units.

Hess Midstream (HESM) shares were up more than 2% after the company posted higher Q1 earnings and revenue.

Related Articles

Sectors

Sector Update: Financial Stocks Decline Late Afternoon

Financial stocks were softer in late Friday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each down about 0.2%.The Philadelphia Housing Index was shedding 1.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) eased 0.1%Bitcoin (BTC-USD) advanced 2.8% to $78,463, and the yield for 10-year US Treasuries decreased 1.2 basis points to 4.378%.In economic news, the S&P Global US manufacturing index for April was revised slightly upwards to 54.5 from the flash reading of 54.0, compared with expectations for a no revision in a survey compiled by Bloomberg.The Institute for Supply Management's US manufacturing index was unchanged in April from the 52.7 reading in March, below the expectations for a 53.2 reading in a survey compiled by Bloomberg.In regulatory news, the US Securities and Exchange Commission's proposal to let public companies report results twice a year instead of every quarter has passed a White House review, according to an Office of Management and Budget document.In sector news, Opay Digital Services has hired Citigroup (C), Deutsche Bank (DB), and JPMorgan (JPM) as the Nigerian payments platform prepares for an initial public offering in the US, Bloomberg reported.In corporate news, BayFirst Financial (BAFN) shares fell past 25% after it reported late Thursday a wider Q1 loss and lower revenue.UWM (UWMC) is urging Two Harbors Investment's (TWO) shareholders to press the board to accept its $12-per-share acquisition bid, up from prior $11.30 offer, according to an open letter Thursday. Two Harbors shares jumped past 8%, and UWM rose 3.5%.Cboe Global Markets (CBOE) shares were up more than 8% after the company posted higher Q1 adjusted earnings and revenue.Aon (AON) reported Q1 adjusted earnings Friday of $6.48 per diluted share, up from $5.67 a year earlier. Analysts polled by FactSet expected $6.37. Aon shares were 0.3% higher.

$AON$BAFN$CBOE$TWO$UWMC
Sectors

Sector Update: Energy Stocks Fall Late Afternoon

Energy stocks fell late Friday afternoon with the NYSE Energy Sector Index and the State Street Energy Select Sector SPDR ETF (XLE) each falling 1.1%.The Philadelphia Oil Service Sector Index dropped 0.6%, and the Dow Jones US Utilities Index declined 0.5%.West Texas Intermediate crude oil fell 3% to $101.93 a barrel, and global benchmark Brent dropped 1.9% to $108.33 a barrel. Henry Hub natural gas futures rose 0.8% to $2.79 per 1 million BTU.In corporate news, Exxon Mobil (XOM) and Chevron (CVX) reported declines in Q1 earnings amid supply disruptions due to the Middle East war, though the results came in ahead of Wall Street's estimates. Exxon shares fell 0.6%, and Chevron declined 1.2%.BP (BP) is considering exiting part or all of its operations in the UK North Sea in order to strip assets and pay down debt, Bloomberg reported. BP shares fell 2.1%.Portland General Electric (POR) shares fell 4% the company reported Q1 earnings and revenue that missed estimates.Occidental Petroleum (OXY) appointed Chief Operating Officer Richard Jackson to succeed Vicki Hollub as president and CEO, starting June 1. Occidental shares declined 3.3%.

$BP$CVX$OXY$POR$XOM
Sectors

Sector Update: Health Care Stocks Softer Late Afternoon

Health care stocks declined late Friday afternoon with the NYSE Health Care Index easing 0.2% and the State Street Health Care Select Sector SPDR ETF (XLV) falling 0.4%.The iShares Biotechnology ETF (IBB) shed 0.6%.In corporate news, Moderna (MRNA) affirmed its 2026 revenue growth outlook and reported better-than-expected Q1 results amid higher COVID vaccine sales. The stock still declined 1.4%.Amgen's (AMGN) Q1 EPS beat was primarily driven by lower administrative costs and taxes, Morgan Stanley said. Amgen shares fell 4.9%.Eli Lilly's (LLY) international rollout of its new oral weight-loss drug is off to a strong start, with early demand for Foundayo building quickly, BofA Securities said. Lilly shares rose 3.1%.Novo Nordisk (NVO) rebranded its oral semaglutide medication for type 2 diabetes as Ozempic. It was formerly marketed as Rybelsus. Novo shares gained 3.9%.

$AMGN$LLY$MRNA$NVO