FINWIRES · TerminalLIVE
FINWIRES

Sector Update: Energy Stocks Rise Late Afternoon

By

Energy stocks were higher late Friday afternoon, with the NYSE Energy Sector Index rising 0.6% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.7%.

The Philadelphia Oil Service Sector Index was climbing 2.3%, and the Dow Jones US Utilities Index decreased 0.4%.

In geopolitical news, Iran said Friday that it had targeted US military assets at Kuwait's Ahmad Al-Jaber airbase, describing the attack as retaliation for US strikes a day earlier, Al Jazeera reported Friday. The US has not responded to Iran's attack yet, and specific details about the damage and casualties are not known, the report said.

Separately, President Donald Trump said the US has an "understanding" with Israel to start implementing an agreement in Gaza that would require Israeli forces to withdraw and Hamas to give up its weapons, a critical step in implementing a multi-phase peace plan to end the war, according to CNN. A senior Hamas official told CNN that the militant group had agreed to the deal with the US-backed Board of Peace, contingent on Israel upholding its obligations. Hamas has never before agreed to a specific plan to hand over its weapons, according to CNN.

Front-month West Texas Intermediate crude oil rose 1.3% to $84.64 a barrel, and the global benchmark Brent crude contract added 1.2% to $90.12 a barrel. Henry Hub natural gas futures shed 0.4% to $2.75 per 1 million BTU.

In corporate news, Exxon Mobil (XOM) and Chevron (CVX) on Friday reported year-over-year gains in their Q2 results as the supply disruptions in the Middle East boosted oil prices. Exxon shares were down 0.8%, and Chevron rose 2.5%.

Phillips 66 (PSX) said Friday its board authorized an additional $10 billion of share repurchases, increasing the company's buyback capacity as the remaining authorization nears depletion. Phillips 66 shares were up 0.4%.

Shell (SHEL) has agreed to sell its BG Cyprus subsidiary to MOL Group for up to $720 million, subject to customary adjustments and milestone-linked contingent payments, the company said Friday. Shell shares were up 1.4%.

BP (BP) said Friday it has launched a process to market its North Sea oil and gas business for a potential sale as part of its broader portfolio review. BP shares rose 1.9%.

Related Articles

Sectors

Sector Update: Energy Stocks Higher Late Afternoon

Energy stocks advanced late Thursday afternoon with the NYSE Energy Sector Index rising 0.8% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.5%.The Philadelphia Oil Service Sector Index advanced 2.5%, and the Dow Jones US Utilities Index fell 0.6%.Late Wednesday, the US Central Command forces completed a "heavy wave" of strikes against Iran in response to Tuesday's attempted missile attacks on US forces, according to CENTCOM. Meanwhile, the Islamic Revolutionary Guard Corps targeted US bases in Kuwait and Jordan following Washington's strikes on Iran, Al Jazeera, a Middle East broadcaster, reported, citing the IRGC.West Texas Intermediate crude oil shed 0.9% to $83.71 a barrel, and global benchmark Brent fell 1.8% to $89.09 a barrel. Henry Hub natural gas futures rose 0.8% to $2.75 per 1 million BTU.US natural gas stocks rose by 28 billion cubic feet in the week ended July 24, a smaller rise than the 35 billion cubic foot increase expected in a survey compiled by Bloomberg and following an increase of 32 billion cubic feet in the previous week.In corporate news, Shell (SHEL) shares gained 2.7% after the company reported Q2 results that beat consensus estimates.Exxon Mobil (XOM), Chevron (CVX) and other big oil companies are vying for Venezuela's choicest drilling spots, but talks with Venezuelan officials have recently hit an impasse, preventing them from making big moves, The Wall Street Journal reported. Exxon shares were up 0.4%, and Chevron added 0.3%.BP (BP) intends to cut around 700 non-frontline jobs from its global workforce, Reuters reported Thursday, citing an internal email it viewed. BP shares rose 2.1%.GE Vernova (GEV) is investing $166 million to expand its operations in Western Pennsylvania, Governor Josh Shapiro and Pennsylvania Department of Community and Economic Development Secretary Rick Siger said Thursday. GE Vernova shares rose past 8%.Emera (EMA) received final approval from the New Mexico Public Regulation Commission for the sale of New Mexico Gas to Bernhard Capital Partners in a $1.25 billion deal. Emera shares were up 0.2%.

$BP$CVX$EMA$GEV$SHEL$XOM
Sectors

Sector Update: Financial Stocks Advance Late Afternoon

Financial stocks were higher in late Thursday afternoon trading, with the NYSE Financial Index rising 1.1% and the State Street Financial Select Sector SPDR ETF (XLF) up 0.5%.The Philadelphia Housing Index was falling 1.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 1.5%.Bitcoin (BTC-USD) was increasing 1.3% to $64,746, and the yield for 10-year US Treasuries rose 4.1 basis points to 4.663%.In economic news, the US personal consumption expenditure price index fell 0.1% month over month in June, marking the first decline since April 2020, the Bureau of Economic Analysis reported Thursday. That helped cut the year-over-year rate to 3.7% from 4.1%.US real gross domestic product increased at a 1.5% annualized rate in the quarter ended June, according to an advance government estimate released Thursday. The consensus was for 2% growth in a survey compiled by Bloomberg.In corporate news, Intercontinental Exchange (ICE) agreed to buy electronic trading platform MarketAxess (MKTX) for about $6 billion, creating a powerhouse that aims to serve "every segment of the fixed income market." Intercontinental shares rose 1.2%, and MarketAxess surged 29%.Goldman Sachs (GS) Asset Management has launched AlphaAI, an AI investing platform to drive returns in public and private market businesses, Reuters reported. Goldman shares climbed 4.9%.A Morgan Stanley-led (MS) group of banks is in talks to lend $15 billion to a data-center developer to build a campus and power plant for Anthropic in Texas, The Wall Street Journal reported. Morgan Stanley shares rose 3.8%.Mastercard (MA) reported better-than-expected Q2 results on Thursday, buoyed by double-digit growth in cross-border volume and healthy spending. Its shares rose 2.6%.Blue Owl Capital's (OWL) data center firm Stack Infrastructure is seeking a syndicated loan of 8.5 billion Australian dollars ($5.9 billion) to back its third data center project in Melbourne, Bloomberg reported. Blue Owl shares rose 6.2%.

$GS$ICE$MA$MKTX$MS$OWL
Sectors

Sector Update: Consumer Stocks Mixed Late Afternoon

Consumer stocks were mixed late Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 2.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 1%.In corporate news, Crocs (CROX) shares fell past 7% after the footwear maker issued downbeat Q3 earnings guidance, while its Q2 results topped Wall Street's estimates.Steven Madden (SHOO) shares were up over 8% after it reported better-than-expected Q2 results and raised its fiscal 2026 outlook.Yum Brands (YUM) reported stronger-than-expected Q2 earnings Thursday, while revenue fell short as a recent food-safety issue weighed on demand at Taco Bell. Yum Brands shares gained 3.5%.Altria (MO) shares fell past 9% after it reported Q2 adjusted earnings that missed analysts' expectations.

$CROX$MO$SHOO$YUM