FTXN - Oil & gas ETFs suffer as energy is the worst performing sector of the day
In the wrap-up of Thursday's trading session, the energy sector came in last place among all S&P 500 sectors. Oil finished the day relatively flat as the U.S. dollar slipped to the downside and the markets climbed higher, offsetting the large U.S. gasoline stockpile news that raised concerns for market participants.The dollar index slid down to 92.08, and financial markets finished green across the board. The Dow finished +0.17%, S&P 500 +0.42% and the Nasdaq closed +1.03%.A weaker dollar allows for oil to be cheaper for holders of other currencies, which usually provides support for crude prices, but today, that was counterbalanced. There are growing concerns about demand for crude as official figures showed a significant increase in U.S. gasoline stockpiles. With that, energy-related ETFs were affected and were some of the day's biggest losers. See below:Nasdaq Oil & Gas ETF FT (FTXN): -5.88%.S&P Oil & Gas Expl & Prod SPDR (XOP): -2.15%.Natural Gas ETF FT (FCG): -1.93%.SP
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Oil & gas ETFs suffer as energy is the worst performing sector of the day