Sector Update: Energy

Energy stocks were declining premarket Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 0.1%.

The United States Oil Fund (USO) was down 0.2% and the United States Natural Gas Fund (UNG) was 0.8% higher.

Front-month US West Texas Intermediate crude oil was 0.4% higher at $82.47 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.2% to $87.92 per barrel, and natural gas futures were up 0.6% at $2.81 per 1 million British Thermal Units.

Venture Global (VG) stock was down more than 4% after the company reported Q2 revenue that missed analysts' expectations.

Sector Update: Energy Stocks Rise Late Afternoon

Energy stocks were higher late Monday afternoon, with the NYSE Energy Sector Index rising 3.8% and the State Street Energy Select Sector SPDR ETF (XLE) adding 4.5%.The Philadelphia Oil Service Sector Index was climbing 5.3%, and the Dow Jones US Utilities Index was decreasing 1.1%.In geopolitical news, President Donald Trump signaled a US emphasis on increasing economic pressure on Iran, saying that Washington is "low-keying" negotiations with the country, CNN reported. Iran said it was nearing a final pact with Oman to define new shipping lanes between them through the Strait of Hormuz, but reiterated that the US must meet other conditions, including compensation and an end to sanctions and military threats, before the waterway is reopened, Reuters reported.Front-month West Texas Intermediate crude oil rose 5% to $82.06 a barrel, and the global benchmark Brent crude contract advanced 4.8% to $87.54 a barrel. Henry Hub natural gas futures climbed 4.6% to $2.78 per 1 million BTU.In sector news, Phillips 66 (PSX) is expected to accelerate share repurchases in H2 this year, supported by ongoing balance sheet deleveraging, UBS said in a note. UBS maintained a buy rating on Phillips 66 with a $235 price target. Phillips 66 shares were up 5.5%.California Resources (CRC) shares were up 3.5% after it reported its Q2 results. The company also said Monday that it agreed to acquire Crimson Midstream from CorEnergy Infrastructure Trust for a total cash consideration of $63 million.National Energy Services Reunited (NESR) shares jumped more than 23% after it posted higher Q2 adjusted earnings and revenue.Seadrill (SDRL) shares climbed 7.9% after the company reported that it swung to Q2 earnings as operating revenue increased during the period and Seadrill raised its 2026 sales outlook.

$CRC$NESR$PSX$SDRL

Sector Update: Financial Stocks Mixed Late Afternoon

Financial stocks were mixed in late Monday afternoon trading, with the NYSE Financial Index decreasing 0.2% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.2%.The Philadelphia Housing Index was falling 2.3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 1.3%.Bitcoin (BTC-USD) was declining 1.8% to $63,992, and the yield for 10-year US Treasuries was rising 4.7 basis points to 4.71%.In sector news, Nvidia (NVDA) is working with some of the world's largest financial firms to build a $500 billion funding package for AI infrastructure development, the Financial Times reported. Apollo Global Management (APO), Blackstone (BX), BlackRock's (BLK) Global Infrastructure Partners, Brookfield Asset Management (BAM), Goldman Sachs (GS) and KKR (KKR) are among the companies that have joined the consortium in partnership with Nvidia, the report said.In corporate news, Blackstone's (BX) portfolio firm Safe Harbor has agreed to acquire MarineMax (HZO) for $53 per share in cash, valuing the recreational boat retailer at about $1.5 billion, including debt, the companies said Monday. Blackstone shares were up 3.3%.BlackRock has signed a deal with labor unions to secure construction jobs for new data centers and energy projects, Bloomberg reported. BlackRock and its $30 billion joint venture with Microsoft (MSFT) and other large tech companies will provide details about upcoming projects with North America's Building Trades Unions, the report said. BlackRock shares were down 0.5%.Robinhood (HOOD) said it will begin rolling out cryptocurrency trading to eligible UK customers this week, allowing them to trade digital assets through its app, Bloomberg reported. Robinhood shares added 1.3%.

$BLK$BX$HOOD

Sector Update: Healthcare Stocks Gain Late Afternoon

Healthcare stocks were higher late Monday afternoon, with the NYSE Healthcare Index rising 1% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 1.4%.The iShares Biotechnology ETF (IBB) climbed 1%.In corporate news, Eli Lilly (LLY) received UK authorization for orforglipron, marketed as Foundayo, a once-daily tablet for weight management and type 2 diabetes, the Medicines and Healthcare products Regulatory Agency said Monday. Lilly shares gained 3.7%.Teledyne Technologies (TDY) has agreed to acquire X-ray imaging components manufacturer Varex Imaging (VREX) in a $1.1 billion deal that will expand its X-ray device portfolio to include oncology detectors. Teledyne shares were up 0.3%, and Varex surged 48%.Thermo Fisher Scientific (TMO) expects to increase its customer base in India by 15% to 20% over the next five years, driven by growth in biopharma research and manufacturing, Reuters reported, citing Srinath Venkatesh, the company's managing director for India and South Asia. Thermo Fisher shares were up 0.7%.Silence Therapeutics (SLN) shares jumped 27% after it said Monday its phase 2 trial of divesiran to treat Polychthemia Vera, a form of blood cancer, met its primary endpoint.

$LLY$SLN$TDY$TMO$VREX

Related Articles