When you linking your Twitter Account Market Wire News Trending Stocks news and your Portfolio Stocks News will automatically tweet from your Twitter account.
Be alerted of any news about your stocks and see what other stocks are trending.
CXO - XLE: Performance And Valuation Update - May 2019
Concho Resources Inc.
The Energy Select Sector SPDR ETF (NYSE:XLE) tracks the performance of S&P 500 energy sector stocks. XLE allows investors to take a strategic or tactical exposure by isolating sector performance. Energy stocks have historically been correlated to changes in commodity prices, particularly oil and gas. On May 23rd, 2019, crude oil prices fell nearly 6% on growing global demand concerns amid rising tensions from the ongoing U.S.-China trade dispute while global production is at record levels. Energy sector stocks suffered larges losses on the day, pulling XLE to its lowest level since January.