FINWIRES · TerminalLIVE
FINWIRES

Sector Update: Energy

By

Energy stocks declined late Wednesday afternoon, with the NYSE Energy Sector Index falling 1.4% and the State Street Energy Select Sector SPDR ETF (XLE) decreasing 1.1%.

The Philadelphia Oil Service Sector Index slumped 2.9%, and the Dow Jones US Utilities Index shed 0.6%.

Front-month West Texas Intermediate crude oil fell 5.3% to $88.94 a barrel, and the global benchmark Brent crude contract dropped 5.1% to $94.52 a barrel. Henry Hub natural gas futures rose 5% to $3.04 per 1 million BTU.

In corporate news, Kosmos Energy (KOS) shares slumped nearly 6% after Mizuho downgraded the company to underperform from neutral and adjusted its price target to $3 from $2.

Related Articles

Sectors

Sector Update: Financial

Financial stocks fell in late Wednesday afternoon trading, with the NYSE Financial Index declining 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.7%.The Philadelphia Housing Index rose 1.3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) eased 0.1%.Bitcoin (BTC-USD) fell 1.3% to $74,895, and the yield for 10-year US Treasuries declined about 1 basis point to 4.48%.In corporate news, Pershing Square's (PS) proposed takeover plan for Universal Music Group should be rejected, Bollore Group, which owns a roughly 18% stake in the music company, said Wednesday. Pershing Square shares were up 0.9%.

$PS
Sectors

Sector Update: Tech

Tech stocks were lower late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) down 0.5% and the State Street SPDR S&P Semiconductor ETF (XSD) falling 2.5%.The Philadelphia Semiconductor index lost 1.7%.In corporate news, Meta Platforms (META) plans to sell Meta AI chatbot consumer subscriptions for the first time, as the company looks to offset its billions of dollars of investments in AI, Bloomberg reported. Meta shares rose 3.8%.

$META
Sectors

Sector Update: Healthcare

Healthcare stocks rose late Wednesday afternoon, with the NYSE Healthcare Index up 0.4% and the State Street Health Care Select Sector SPDR ETF (XLV) increasing 0.2%.The iShares Biotechnology ETF (IBB) added 0.6%.In corporate news, BioNTech's (BNTX) cancer-drug pipeline is showing stronger early results and is approaching several important clinical milestones, improving confidence in the company's long-term outlook, UBS Securities said in a report. UBS upgraded its rating on BioNTech stock to buy from neutral and raised its price target to $135 from $117. BioNTech shares rose 1.2%.

$BNTX