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home / news releases / XLE - ERX: A Compelling Case For Turbocharged Energy-Related Stocks

XLE - ERX: A Compelling Case For Turbocharged Energy-Related Stocks

SPDR Select Sector Fund - Energy Select Sector

2024-01-25 14:00:46 ET

Summary

  • Energy was the worst-performing sector in the commodities market in 2023, with a decline of 21.85%.
  • The current economic and geopolitical landscape suggests a bullish outlook for fossil fuel prices in 2024.
  • The 2024 driving season and geopolitical tensions could lead to upside price spikes in the oil futures market.
  • Direxion Daily Energy Bull 2X Shares ETF is a leveraged ETF product that requires special risk-reward dynamics.

Energy was the worst-performing sector of the commodities market in 2023. A composite of oil, gasoline, heating oil, natural gas, and ethanol futures and swaps declined 21.85% last year. Meanwhile, oil and gas companies moved lower in 2023, with the Energy Select Sector SPDR® Fund ETF (XLE) dropping 4.1%, outperforming the energy commodities....

For further details see:

ERX: A Compelling Case For Turbocharged Energy-Related Stocks
Stock Information
Company Name: SPDR Select Sector Fund - Energy Select Sector
Stock Symbol: XLE
Market: NYSE
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