SPDR Select Sector Fund - Energy Select Sector (ARCA: XLE)

Últimas noticias sobre SPDR Select Sector Fund - Energy Select Sector (ARCA:XLE)

SPDR Select Sector Fund - Energy Select Sector

Energy

Technology

Healthcare

Industrials

Financial Services

Consumer Cyclical

Consumer Defensive

Communication Services

Real Estate

Other

Utilities

Basic Materials

In seeking to track the performance of the index, the fund employs a replication strategy. It generally invests substantially all, but at least 95%, of its total assets in the securities comprising the index. The index includes securities of companies from the following industries: oil, gas and consumable fuels; and energy equipment and services. The fund is non-diversified.

Exxonmobil Corp.

Chevron Corp.

Eog Resources Inc

Schlumberger Nv

Phillips 66

Marathon Petroleum Corporation

Developed Markets Compugroup Medical Ag

Valero Energy Corp

Williams Cos. Inc.

Oneok Inc.

The Energy Select Sector SPDR Fund

Equities

Large Cap

News

Media

iShares Dow Jones US Energy Sector Index Fund

Las acciones de Exxon Mobil (XOM) caen tras anunciar despidos posterior a la adquisición de Pioneer Natural Resources.

Exxon Mobil (XOM) reduce personal después de la fusión con Pioneer

XXL Energy Corp

INVESCO ENERGY S&P US SECTOR UCI ETF

Chevron Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) announced a strategic collaboration with Honeywell International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>) to develop<a target="_blank" href="http://benzinga.com/pressreleases/24/10/n41115086/honeywell-and-chevron-collaborate-on-ai-assisted-solutions-for-refining-processes" rel="noreferrer noopener"> advanced artificial intelligence (AI)-assisted solutions</a>.
The solution aims at enhancing decision-making for operators, improving efficiency in refining processes, and boosting safety within the industrial automation sector.
This partnership represents a major advancement in AI-assisted solutions for plant operators.
The two companies are collaborating to create a new generation of AI-assisted alarm management solutions that enhance the efficiency, safety, and reliability of process operations and industrial assets.
The Alarm Guidance application will provide operators with guided actions for responding to alarms and operational events, reducing lost profits and safety incidents.
Using AI, the system will analyze historical data to identify patterns between alarms and effective operator responses that restore normal operations.
Through this collaboration, Chevron&#8217;s operators will integrate AI into Honeywell&#8217;s Experion distributed control system (DCS), enhancing decision-making and optimizing operations for improved efficiency and workforce upskilling, in line with Honeywell&#8217;s focus on automation.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/41063239/john-hess-blocked-from-joining-chevron-board-as-part-of-ftc-deal-for-antitrust-approval-of-53b-c" rel="noreferrer noopener">John Hess Blocked From Joining Chevron Board As Part Of FTC Deal For Antitrust Approval Of $53B Chevron-Hess Merger: Report</a>
Lucian Boldea President&nbsp;and CEO of Honeywell Industrial Automation said, &#8220;AI-Assisted automation is key to helping improve industrial plant performance while also addressing industry&#8217;s workforce shortage through institutional knowledge capture, workflow digitalization, and accelerating the learning curve for the next generation.&#8221;
Investors can gain exposure to the stock via&nbsp;EA Series Trust Strive U.S. Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRLL#NYSE">DRLL</a>) and&nbsp;SPDR Select Sector Fund – Energy Select Sector&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>).
Price Action: CVX shares are up 1.83% at $149.96 at the last check Tuesday.
Photo by Jonathan Weiss on Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/government/24/09/41098199/ftc-clears-chevrons-53b-hess-merger-sets-restriction-for-john-hess" target="_blank" rel="noreferrer noopener">FTC Clears Chevron&#8217;s $53B Hess Merger, Sets Restriction For John Hess</a></li>
</ul>

Contracts

Movers

DRLL

Chevron, Honeywell Join Forces For AI Breakthrough: Details

Shares of Shell PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>) rose 1.22% to $66.76 Tuesday morning as tensions in the Middle East <a href="https://www.benzinga.com/news/24/10/41112728/us-boosts-military-presence-in-middle-east-deploys-fighter-squadrons-amid-rising-tensions-with-iran">continue to escalate</a> following the assassination of Hezbollah leader Hassan Nasrallah by Israeli forces in Beirut. Reports indicate Iran may be planning a <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/10/41120592/iran-set-to-launch-ballistic-missile-attack-against-israel-report">ballistic missile attack</a> on Israel in retaliation for an airstrike that killed Hezbollah leader Hassan Nasrallah, prompting the U.S. to increase its military presence in the region.
News of the potential conflict has caused spikes in oil and gold prices, while major stock indexes like the S&amp;P 500 and Dow Jones have dropped in response.
The significant increase in U.S. military presence in the region, including the deployment of fighter squadrons and naval forces, has sparked concerns about potential disruptions to global oil supplies, boosting the price of crude oil and benefiting energy giants like Shell.
What To Know: The Middle East, home to more than 30% of the world's oil production, is a region of immense strategic importance to Shell, one of the world's largest oil and gas companies. Any instability in the region, especially in oil-rich areas such as the Arabian Gulf, can have immediate consequences on oil markets.
Read Also: <a href="https://www.benzinga.com/news/24/10/41113339/elon-musk-resumes-slamming-fccs-decision-to-deny-starlink-885m-subsidy-after-fema-sends-its-terminal">Elon Musk Resumes Slamming FCC&#8217;s Decision To Deny Starlink $885M Subsidy After FEMA Sends Its Terminals To Help Hurricane Helene Victims</a>
Shell's integrated energy portfolio, which spans upstream exploration, production, refining, and trading of oil and natural gas, is closely tied to fluctuations in global oil prices. In times of geopolitical conflict, supply chains are often disrupted, leading to price spikes, which typically bolster the revenues of major oil producers like Shell.
What Else: The heightened U.S. military presence, including aircraft carriers and stealth fighters, signals the possibility of further conflict, especially with concerns about potential retaliation from Iran or Hezbollah. 
As the geopolitical situation intensifies, traders and investors are betting on higher oil prices, which often results from fears of disrupted supply lines through critical chokepoints like the Strait of Hormuz—a key artery for the world's oil shipments. 
Shell, with its extensive operations in the Middle East, could see both risks and opportunities in such a scenario. Rising oil prices would directly increase profit margins in the company's upstream oil production business.
Read Also: <a href="https://www.benzinga.com/trading-ideas/technicals/24/10/41116889/tesla-stock-speeds-ahead-of-mag7-peers-can-octobers-robotaxi-reveal-keep-the-momentum">Tesla Stock Speeds Ahead Of Mag7 Peers, Can October&#8217;s Robotaxi Reveal Keep The Momentum?</a>
Traders and investors can gain exposure to Shell in the Energy Select Sector SPDR Fund (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NASDAQ">XLE</a>).
<h2 class="wp-block-heading">Is SHEL A Good Stock To Buy?</h2>
An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action which you can find on Benzinga's quote pages &#8211; like <a href="https://www.benzinga.com/quote/SHEL">Shell</a>&#8216;s page for example &#8211; there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.
These are known as capital allocation programs. Shell does pay a dividend, which yields 4.02% per year as of the closing price on Oct. 1, 2024. Feel free to search Benzinga's <a href="https://www.benzinga.com/calendars/dividends">dividend calendar</a> for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.
For example, if you're looking to earn an annualized return of 13.44%, you'll need to buy a share of Saba Cap Inc &amp; Opps by the Oct. 9, 2024. Once done, you can expect to receive a nominal payout of $0.09 on Oct. 31, 2024.
Buyback programs are obviously different and highly variable. A company can approve a buyback program and purchase shares as it sees fit over the course of time in which the buyback was authorized. Looking through the latest news on <a href="https://www.benzinga.com/quote/SHEL">Shell</a> will often yield whether or not the company has approved a buyback program recently. Buyback programs usually serve as a support for share prices, serving as a backstop for demand.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, SHEL has a 52-week high of $74.60 and a 52-week low of $60.34.

SHEL

Why Shell Stock Is Rising

Bank of America has <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41003610/veteran-investor-mark-moss-predicts-bitcoin-to-surge-to-300k-if-donald-trump-wins-the-elec">spotlighted three sectors</a> that could benefit from the Federal Reserve&#8217;s rare dual approach of rate cuts and rising corporate profits.
What Happened: Savita Subramanian, BofA&#8217;s head of U.S. equity and strategy, referred to this situation as a &#8220;rare double whammy of stimulus&#8221; during her <a href="https://www.youtube.com/watch?v=n-vbFcslt8Q">appearance</a> on CNBC on Monday. 
She recommended investors focus on value stocks in real estate, financials, and energy sectors.
Subramanian noted that value stocks, which trade below their fundamental value, tend to outperform when profits rise and rates fall. This scenario reduces the need for hedging and encourages investment in higher-upside names.
&#8220;I think about where these assets sitting in retiree accounts and money market funds are going; I think they&#8217;re going into safe, stable income. That&#8217;s more value than growth,&#8221; she said.
Real estate benefits from significant investments in data centers, crucial for artificial intelligence infrastructure, while financials and energy sectors have improved their quality and capital returns since the last decade. 
Subramanian emphasized the appeal of high dividends in these sectors as short-term yields decline, making dividend-yielding stocks attractive for income-seeking investors.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41081939/trump-wants-us-to-be-bitcoin-mining-capital-of-the-world-core-scientifics-move-to-buy-chip?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Wants US To Be Bitcoin Mining Capital Of The World</a>
The following ETFs are notable performers within their respective sectors. In the real estate category, iShares Core U.S. REIT ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USRT#NYSE">USRT</a>), Schwab U.S. REIT ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHH#NYSE">SCHH</a>), and SPDR DJ Wilshire REIT ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RWR#NYSE">RWR</a>) stand out as top options.
In the financial sector, SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), iShares U.S. Regional Banks ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAT#NYSE">IAT</a>), and SPDR S&amp;P Bank ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBE#NYSE">KBE</a>) have emerged as leading performers. 
For those looking into energy investments, Direxion Energy Bull 2X Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ERX#NYSE">ERX</a>), Fidelity MSCI Energy Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FENY#NYSE">FENY</a>), and SPDR Select Sector Fund &#8211; Energy Select Sector (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) represent some of the top options.
Why It Matters: The identification of these value sectors comes at a time of significant economic and political uncertainty. Investors are currently grappling with U.S. economic uncertainty, shifts in Federal Reserve policy, and the upcoming presidential election.
The CBOE Volatility Index (VIX), a key gauge for measuring protection against <a href="https://www.benzinga.com/markets/24/09/40796352/trump-vs-harris-u-s-stock-market-faces-rising-risks-amid-economic-uncertainty-and-2024-election">stock market fluctuations</a>, has climbed to around 20, a significant rise from its 2024 average of 14.8. This surge in volatility is a typical pattern during election years, as investors weigh the market implications of policy proposals from candidates.
Steve Eisman, known for his role in <a href="https://www.benzinga.com/markets/equities/24/09/40951546/big-short-fame-investor-drops-previous-prediction-of-trump-victory-the-market-is-going-straight-">predicting the 2008 financial crisis</a>, recently withdrew his prediction of a Trump victory, adding uncertainty to market forecasts. 
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/24/09/41097541/amazon-apple-tesla-brace-for-supply-chain-disruptions-as-potential-east-coast-dockworkers-strike?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Amazon, Apple, Tesla Brace For Supply Chain Disruptions As Potential East Coast Dockworkers Strike Nears</a></li>
</ul>
Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Analyst Color

Long Ideas

Federal Reserve

Markets

Trading Ideas

FENY

iShares Dow Jones US Regional Banks Index Fund

SCHH

USRT

BofA Highlights 3 Value Sectors Amid Fed's 'Rare Double Whammy' Of Stimulus

Analyst Ratings

Live On CNBC, Jason Snipe Announces Sold SPDR Select Sector Fund - Energy Select Sector

The S&amp;P 500 reached record highs during Wednesday morning trading in New York, while the tech-heavy Nasdaq 100 climbed past the 20,000-point mark, a level last <a href="https://www.benzinga.com/money/best-tech-stocks">seen on July 17.</a>
Semiconductor stocks outperformed, driven by anticipation of Micron Technology Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) earnings report, due after the market close on Wednesday.
Yet, Wall Street showed sideways performance across major indices as investors cautiously digested positive stimulus news from China, which boosted market sentiment on Tuesday, and looked ahead to upcoming economic data.
On Thursday, investors will turn their attention to the final second-quarter gross domestic product report. The second estimate already showed the U.S. economy growing at a robust 3% pace for the quarter ending in June.
Weekly jobless claims will also be closely monitored, especially after the latest Conference Board Consumer Confidence Index revealed growing labor market concerns among U.S. households.
Friday brings the release of the personal consumption expenditures price index for August, the Federal Reserve&#8217;s <a href="https://www.benzinga.com/news/large-cap/24/09/41029162/feds-favorite-inflation-data-friday-could-sway-november-interest-rate-cut-odds">preferred inflation gauge</a>. This data could provide critical clues about the expectations for the November rate cut.
The U.S. dollar index edged higher Wednesday, supported by a slight rise in Treasury yields. Oil prices dipped by 1% but pared heavier losses after a larger-than-expected draw in crude oil inventories suggested continued strong demand.
In the crypto space, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell 0.8%, retreating from an intraday high of $64,800 – its highest level since late July.
<h3 class="wp-block-heading">Wednesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices </td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,003.52</td>
<td>0.3%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,732.42</td>
<td>0.0%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,214.40</td>
<td>-0.4%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>41,986.73</td>
<td>-0.5%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 11:30 a.m.</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092524&amp;t=be2bearmibe3na1">Benzinga Pro</a> data: 
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;flattened at $570.76.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;flattened at $420.90.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.2% to $486.27.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell to $219.22.</li>
<li>The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, up 0.4%. The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down 0.9%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers </h3>
<ul>
<li>Duolingo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DUOL#NASDAQ">DUOL</a>) rallied 6% after Evercore ISI raised the price target from $270 to $335. </li>
<li>Fortrea Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTRE#NASDAQ">FTRE</a>) tumbled nearly 10% after Jefferies downgraded the stock from Buy to Hold. </li>
<li>Vistra Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>) rallied nearly 5% after Jefferies raised the price target from $99 to $137. </li>
<li>Ford Motor Co. and General Motors Co. fell 4.4% and 5%, respectively, after receiving a downgrade from Morgan Stanley.</li>
<li>Hewlett Packard Enterprise Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) rallied 4.9% after Barclays upgraded the stock from Equalweight to Overweight, raising the price target from $20 to $24. </li>
<li>Companies reporting earnings after the close include Micron Technology Inc and Jefferies Financial Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JEF#NYSE">JEF</a>). </li>
</ul>
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Photo via Shutterstock.

Macro Economic Events

Mid Cap

Broad U.S. Equity ETFs

Small Cap

Econ #s

Economics

ETFs

$BTC

SPDR Dow Jones Industrial Average ETF Trust

DUOL

FTRE

S&P 500 Hits All-Time Highs, Nasdaq 100 Tops 20K Ahead Of Key Economic Data: What's Driving Markets Wednesday?

Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>)&nbsp;shares are trading higher on Monday. The oil giant&#8217;s merger with Hess Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>) may see a ray of hope, with the deal reportedly expected to receive Federal Trade Commission approval sooner.
In May 2024, Hess shareholders approved the proposed $53 billion merger. However, the deal still required regulatory approval and was expected to face arbitration with Hess&#8217; partners <a target="_blank" href="https://www.benzinga.com/m-a/24/05/39047788/hess-shareholders-approve-53-billion-merger-with-chevron" rel="noreferrer noopener">in Guyana, which could push the deal into 2025</a>.&nbsp;
The U.S. Federal Trade Commission may approve Chevron&#8217;s $53 billion acquisition of Hess as early as this week, reported Reuters.
In August, Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and its partner&nbsp;CNOOC Ltd filed arbitration claims, asserting their right of first refusal to any sale of&nbsp;Hess&#8217;&nbsp;stake <a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40091118/chevrons-53b-hess-deal-faces-uncertainty-amid-exxon-and-cnooc-arbitration-claims" rel="noreferrer noopener">in a Guyana oil-producing joint venture</a>.
The arbitration panel is expected to hear these claims in May 2025, further delaying the deal.
Related: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39746845/exxon-mobil-arbitration-throws-wrench-in-chevron-hess-merger-timeline-report" rel="noreferrer noopener">Exxon Mobil Arbitration Throws Wrench in Chevron-Hess Merger Timeline: Report</a>
As per Reuters, Chevron and Hess expect a decision by August, while Exxon anticipates it will come by September 2025.
Notably, in July, the final members were appointed to a three-person arbitration panel tasked with resolving the&nbsp;Exxon Mobil&nbsp;dispute over&nbsp;the $53 billion merger. The deal was initially planned to close in the first half of the year.
Investors can gain exposure to the Chevron via&nbsp;E.A. Series Trust Strive U.S. Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRLL#NYSE">DRLL</a>) and&nbsp;SPDR Select Sector Fund – Energy Select Sector&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>).
Price Action: CVX shares are up 1.12% at $149.20 and HES is up 1.97% at $138.00 premarket at the last check Tuesday.
Photo by Jonathan Weiss on Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/09/40920735/chevron-slams-bidens-lng-export-pause-touts-natural-gas-for-ai-growth-report" target="_blank" rel="noreferrer noopener">Chevron Slams Biden&#8217;s LNG Export Pause, Touts Natural Gas For AI Growth: Report</a></li>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Chevron-Hess Merger Could Soon Get FTC Approval: Report

Oil prices slid by more than 1% on Monday, reflecting persistent concerns over weakened global demand despite the escalating conflict between Israel and <a href="https://www.benzinga.com/topic/middle-east">Hezbollah in the Middle East.</a> Investors appeared more focused on the macroeconomic picture of slowing global consumption rather than the immediate geopolitical risks that could disrupt energy supplies.
U.S. energy stocks, tracked by the Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>), remained mostly flat during the final hour of New York trading. 
<h3 class="wp-block-heading">Israel-Hezbollah Conflict Intensifies: 650 Air Strikes In 24 Hours</h3>
On Monday, Israel launched its most extensive air campaign yet against Hezbollah targets in southern Lebanon. The Israeli military carried out 650 air strikes in the past 24 hours, hitting over 1,100 targets with more than 1,400 munitions, as reported by Reuters.
The attacks targeted Hezbollah's military infrastructure, including rocket launchers and underground weapon storage facilities.
Tens of thousands of civilians in southern Lebanon have begun fleeing towards the north, leading to severe traffic congestion on key roads as the population seeks safety. The conflict, which has simmered for nearly a year, is showing signs of spiraling into a larger regional crisis.
"Essentially, we are targeting combat infrastructure that Hezbollah has been building for the past 20 years. This is very significant. We are striking targets and preparing for the next phases," Israeli Prime Minister Benjamin Netanyahu said in a statement.
The international response to the intensifying conflict has been swift. The Pentagon announced plans to send additional troops to the Middle East as a precautionary measure amid the growing instability. Both Vice President Kamala Harris and President Joe Biden are scheduled to hold separate meetings with UAE President Sheikh Mohamed bin Zayed Al Nahyan to discuss the ceasefire deal in Gaza.
Stéphane Dujarric, spokesperson for U.N. Secretary-General Antonio Guterres, expressed concern over the growing number of civilian casualties reported by Lebanese authorities. &#8220;The Secretary-General is deeply worried about the rising toll on civilian lives and the broader implications for regional stability," Dujarric stated.
Reactions from other regional players in Middle East were largely critical of Israel's actions. Turkey's Foreign Ministry condemned Israel's air strikes, calling them "a new phase in its efforts to drag the entire region into chaos."
Iranian President Masoud Pezeshkian, speaking to journalists upon his arrival in New York for the United Nations General Assembly, accused Israel of provoking a wider conflict. "Israel wants to drag the Middle East into a full-blown war by provoking Iran to join the nearly year-old conflict between Israel and Tehran-backed Hezbollah in Lebanon," Pezeshkian said.
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Photo: Shutterstock

Sector ETFs

Commodities

Politics

Global

Oil Falls, Energy Stocks Flat As Fears Of Demand Drop Eclipse Israel-Hezbollah Conflict Escalation

Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) reportedly ruled out taking an equity stake in Woodside Energy Group Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WDS#NYSE">WDS</a>) <a href="https://www.benzinga.com//node/39879353">upcoming acquisition of Driftwood LNG in Louisiana.</a>
Colin Parfitt, head of midstream operations, told Reuters that Chevron can effectively monetize its U.S. gas without converting it to LNG.
The decision reflects the company&#8217;s earlier choice to bypass investment in U.S. LNG plant construction and sell its gas directly to the market instead.
In July 2023, Chevron executives said in an interview that the company is confident in its &#8216;buy-rather-than-build&#8217; strategy, which an S&amp;P Global <a target="_blank" href="https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/natural-gas/072023-interview-chevron-prefers-buying-us-lng-to-building-export-projects" rel="noreferrer noopener">report </a>highlighted.
During the interview, the company&#8217;s executives stated that Chevron&#8217;s U.S. LNG offtake contracts support its goal of increasing international sales of Permian Basin production, while the company will primarily leave U.S. midstream infrastructure development to third parties to focus on upstream and downstream investments.
In 2022, Chevron&nbsp;U.S.A. entered into long-term <a href="https://lngir.cheniere.com/news-events/press-releases/detail/253/cheniere-and-chevron-sign-long-term-lng-sale-and-purchase">LNG </a>sale and purchase agreements with Cheniere Energy. Notably, given the current interest rate environment, it&#8217;s interesting that Chevron chose not to invest in the construction of a U.S. LNG plant.
Recently, the Federal Reserve decided to reduce interest rates by 50 basis points leading to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40937291/bank-stocks-hit-inflection-point-after-feds-50-basis-point-cut-analyst-reveal-top-p" target="_blank" rel="noreferrer noopener">surge in optimism across major sectors</a>.
Further into the future, the Dot Plot signals the fed funds rate will drop to between 3.25% and 3.5% by the end of 2025, implying an additional 100 basis points of cuts. By the end of 2026 and the newly introduced projections for 2027, <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40926026/federal-reserve-delivers-bold-0-5-rate-cut-signals-further-easing-ahead" target="_blank" rel="noreferrer noopener">interest rates are expected to fall to 2.9%</a>.
It remains uncertain whether the company will alter its stance after future rate reductions as it wants the best use of its capital.
This week, Chevron Shipping Company, in partnership with Wärtsilä, disclosed that it will convert engines on six&nbsp;liquefied natural gas&nbsp;(LNG) carriers from dual-fuel to spark gas operation to cut methane&nbsp;emissions <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40941443/chevron-takes-steps-to-reduce-methane-emissions-from-lng-carriers" rel="noreferrer noopener">and support its carbon reduction goals</a>.
Investors can gain exposure to the Chevron via&nbsp;E.A. Series Trust Strive U.S. Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRLL#NYSE">DRLL</a>) and&nbsp;SPDR Select Sector Fund – Energy Select Sector&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>).
Price Action: CVX shares are up 0.13% at $145.18 at the last check Friday.
Photo by Jonathan Weiss on Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/09/40920735/chevron-slams-bidens-lng-export-pause-touts-natural-gas-for-ai-growth-report" target="_blank" rel="noreferrer noopener">Chevron Slams Biden&#8217;s LNG Export Pause, Touts Natural Gas For A.I. Growth: Report</a></li>
</ul>
Disclaimer: This content was partially produced with the help of A.I. tools and was reviewed and published by Benzinga editors.

Chevron Prioritizes Gas Sales Over LNG Plant Investment: Report

Wall Street is in full risk-on mode following the Federal Reserve&#8217;s landmark decision to slash interest rates by 50 basis points, signaling further cuts as inflation approaches <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40938732/wall-street-ramps-up-interest-rate-cut-bets-after-fed-meeting-the-hard-landing-crow">the central bank&#8217;s target.</a>
The S&amp;P 500 and Dow Jones both set fresh record highs during the morning session in New York, buoyed by strong performances from the Magnificent Seven tech giants.
By midday, these elite tech stocks added over $500 billion in market value, boosting their combined market capitalization to $15.9 trillion.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) led the rally, surging nearly 7% and hitting a two-month peak, while NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) climbed 5%, driving the semiconductor sector higher.
The iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) jumped 4.6%, fully erasing its losses from September.
The Nasdaq 100 rose 2.9%, on pace for its strongest session in over a month and outperforming other major indices. Small caps joined the rally, with the Russell 2000 index surging 2%.
Commodities rallied across the board: Gold, silver, and copper increased by 1.2%, 3.8%, and 1.8%, respectively. Oil prices, tracked by the United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>), spiked over 3%.
The bullish sentiment extended to cryptocurrencies, with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rising over 2%, poised to close at its highest level since late August.
<h1 class="wp-block-heading">Thursday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices </td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,905.70</td>
<td>2.9%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,249.90</td>
<td>2.0%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,720.74</td>
<td>1.8%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,002.90</td>
<td>1.2%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:25 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091924&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 1.8% higher to $571.52.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 1.2% to $421.23.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rallied 2.8% to $484.99.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 1.9% to $223.63.</li>
<li>The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, up 0.2%. The Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) lagged, down 0.9%.</li>
</ul>
<h1 class="wp-block-heading">Thursday&#8217;s Stock Movers</h1>
<ul>
<li>Darden Restaurants Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>) soared 9%, in response to its quarterly earnings and bullish outlook for upcoming quarters. </li>
<li>Also reacting to earnings reports was FactSet Research Systems Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDS#NYSE">FDS</a>) up 5%.</li>
<li>Companies expected to report earnings after the close include FedEx Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) and Lennar Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>).</li>
</ul>
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40937291/bank-stocks-hit-inflection-point-after-feds-50-basis-point-cut-analyst-reveal-top-p">• Bank Stocks Hit Inflection Point After Fed&#8217;s 50 Basis Point Cut, Analyst Reveals Top Picks</a> Images was created using artificial intelligence DALL-E

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Wall Street Breaks Records, Chipmakers Rally, Tesla Hits 2-Month High As Fed Cut Drives Risk-On Mode: What's Driving Markets Thursday?

Chevron Corporation&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) Chevron Shipping Company, in partnership with Wärtsilä, will convert engines on six <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40920735/chevron-slams-bidens-lng-export-pause-touts-natural-gas-for-ai-growth-report" rel="noreferrer noopener">liquefied natural gas</a> (LNG) carriers from dual-fuel to spark gas operation to cut methane<a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40934277/chevron-shipping-w-rtsil-partner-to-lower-methane-emissions-on-lng-carriers" rel="noreferrer noopener"> emissions and support its carbon reduction goals</a>.
The order for the first two vessels was placed in the third quarter of 2024 after two years of collaboration.
The company believes that reducing methane emissions is crucial for lowering carbon intensity.
Wärtsilä&#8217;s 50DF to SG engine conversion aims to address this by switching from diesel pilot fuel to spark ignition, optimizing combustion to reduce methane slip and enhance efficiency.
&#8220;Chevron Shipping aims to reduce methane emissions intensity of our LNG fleet in support of a lower carbon future,&#8221; said Barbara Pickering, president of Chevron Shipping.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40920735/chevron-slams-bidens-lng-export-pause-touts-natural-gas-for-ai-growth-report" rel="noreferrer noopener">Chevron Slams Biden&#8217;s LNG Export Pause, Touts Natural Gas For AI Growth: Report</a>
This week, in a speech at the GasTech conference in Houston on Tuesday,&nbsp;CEO&nbsp;Michael Wirth predicted that the permitting halt will lead to higher energy costs, jeopardize supplies for America&#8217;s European allies, and increase emissions by delaying the shift from coal to gas.
Wirth predicted that the permitting halt will lead to higher energy costs, jeopardize supplies for America&#8217;s European allies, and increase emissions by delaying the shift from coal to gas.
Last week, Chevron Shipping teamed up with&nbsp;Mitsui O.S.K. Lines (MOL) to install the Wind Challenger, a wind-assisted&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40858554/chevron-takes-step-towards-greener-shipping-details" rel="noreferrer noopener">propulsion&nbsp;system, on a new LNG carrier</a>.
Investors can gain exposure to the stock via&nbsp;EA Series Trust Strive U.S. Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRLL#NYSE">DRLL</a>) and&nbsp;SPDR Select Sector Fund – Energy Select Sector&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>).
Price Action: CVX shares are up 1.27% at $145.78 at the last check Thursday.
Photo by Jonathan Weiss on Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com//node/40937873" target="_blank" rel="noreferrer noopener">Walmart Steps Up Holiday Game, Inflation-Free Thanksgiving Meal Returns</a></li>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Chevron Takes Steps To Reduce Methane Emissions From LNG Carriers

Wall Street reacted with unease to Federal Reserve Chair Jerome Powell&#8216;s remarks following a landmark decision to cut the federal funds rate by 50 basis points, bringing it down to a target range <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40927293/powell-defends-0-5-interest-rate-drop-as-right-thing-for-the-economy-doubles-down">of 4.75% to 5%. </a>
The Federal Reserve&#8217;s highly anticipated dot plot, which outlines each policymaker&#8217;s rate path preference, indicated that policymakers <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40926026/federal-reserve-delivers-bold-0-5-rate-cut-signals-further-easing-ahead">anticipate further easing ahead</a>. The dot plot signaled that the Fed is likely to cut rates by a quarter percentage point at each of the next two decisions. Looking further ahead, it suggests an additional rate reduction of at least another percentage point in 2025.
Despite the initial market euphoria following the 50-basis-point rate cut, Powell&#8217;s cautious remarks on the future rate path have injected uncertainty into the markets.
See Also: <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/09/40928301/interest-rates-in-free-fall-what-it-means-for-mortgages-credit-cards-and-your-wallet-a">Interest Rates In Free-Fall &#8211; What It Means For Mortgages, Credit Cards And Your Wallet As The Federal Reserve Springs Into Action For First Time In 4 Years</a>
<h3 class="wp-block-heading">Market Response To Rate Cut, Powell&#8217;s Remarks</h3>
Initially, the S&amp;P 500, tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), surged to record highs. Gold prices, represented by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), also hit all-time highs as the U.S. dollar weakened.
Interest-rate sensitive stocks were the largest gainers between 2 p.m. and 2:35 p.m. ET, with small caps outperforming large-cap counterparts.
Yet, Powell&#8217;s cautionary comments during the press conference caused a reversal in market sentiment.
Here&#8217;s how major asset classes closed on the Fed&#8217;s decision day:
<ul>
<li>The U.S. dollar, which many believed would plummet in a 50-basis-point cut scenario, instead recouped its losses and rallied to weekly highs. The Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) closed 0.1% higher.</li>
<li>U.S. large-cap indices all ended the day in the red, paring back gains made immediately after the rate decision. The S&amp;P 500 finished 0.3% lower, while the Nasdaq 100, tracked by the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), declined by 0.4%.</li>
<li>Small caps managed to close unchanged for the day, but they still gave back all their post-rate-cut gains.</li>
<li>Sector-wise, the Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) was the only sector to close in positive territory, up 0.2%. </li>
<li>The worst performer was the Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>), which fell 1%.</li>
<li>Gold dropped 0.4% to $2,555 per ounce, hitting levels last seen on Thursday of the previous week.</li>
<li>Silver and oil also saw robust declines, closing 2.1% and 1.2% lower, respectively.</li>
<li>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell 1.1% to $59,717.</li>
</ul>
<h3 class="wp-block-heading">Powell&#8217;s Caution Stirs Investor Uncertainty</h3>
While defending the 50-basis-point rate cut, Powell tempered market enthusiasm, emphasizing that such a cut should not be seen as a new norm. His key statements on Wednesday included:
<ul>
<li>&#8220;No one should look at today and think this is the new pace.&#8221;</li>
<li>&#8220;We can go quicker or slower, or pause, on rate cuts if it is appropriate.&#8221;</li>
<li>&#8220;There is nothing in our projections that suggest we are in a rush.&#8221;</li>
<li>&#8220;If the economy remains solid and inflation persists, we can dial back policy restraint more slowly.&#8221;</li>
</ul>
These comments signaled a more cautious approach to future rate cuts, disappointing investors who had hoped for a more aggressive easing cycle.
<h3 class="wp-block-heading">Economist Insights</h3>
<ul>
<li>Jeffrey Roach, LPL Financial: &#8220;We learned from today's Summary of Economic Projections (SEP) that the Fed is interested in getting to a neutral fed funds rate as quickly as possible.&#8221;</li>
<li>John Lynch, Comerica Wealth Management: &#8220;The Fed was more aggressive than I expected, since 50 basis point cuts are historically associated with crises. I don't consider 2% GDP, 4.2% unemployment rate, and 15% profit growth forecasts for 2025 as a crisis.&#8221;</li>
<li>Bill Adams, Comerica Bank: &#8220;With the Fed pivoting, interest rates will be substantially lower over the next six to twelve months. That is very welcome news for credit-sensitive sectors of the economy like housing, manufacturing, and retailers of cars and other big-ticket consumer products.&#8221;</li>
<li>Chris Zaccarelli, Independent Advisor Alliance: &#8220;Lowering interest rates now should allow the market to hit all-time highs again by the end of this year, and more gains for next year.&#8221;</li>
</ul>
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/09/40923390/20-s-p-500-stocks-that-move-the-most-when-the-fed-starts-cutting-interest-rates">20 S&amp;P 500 Stocks That Move The Most When The Fed Starts Cutting Interest Rates</a></li>
</ul>
Photo courtesy of the Federal Reserve.

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Powell's Hawkish Tone Tempers Market Excitement After Historic 50-Basis-Point Interest Rate Cut, Economist Sees 'Welcome News For Credit-Sensitive Sectors'

Editor&#8217;s note: This story has been updated with additional information. 
Markets are bouncing Wednesday afternoon following the Federal Reserve&#8217;s decision to cut rates by 0.5%, marking the beginning of the central bank&#8217;s <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40918078/is-the-fed-playing-with-fire-we-see-greater-risk-of-an-overheating-economy-as-they-">highly anticipated cutting cycle</a>.
What To Know: Wednesday&#8217;s&nbsp;0.5% rate cut brings the&nbsp;target fed funds rate&nbsp;to a new range&nbsp;between 4.75% and 5%, down from a 23-year high of 5.25% to 5.5%. It&#8217;s also the first rate cut since March 2020.
The fed funds rate has been sitting at a range between&nbsp;5.25% and 5.5%&nbsp;since the central bank last hiked in July 2023.
The SPDR S&amp;P 500 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which tracks the <a href="https://www.benzinga.com/topic/s-p-500">S&amp;P 500</a> index, was up 0.44% at all-time highs at last check, led higher by a variety of names like Arm Holdings Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>), The Trade Desk Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>) Toyota Motor Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>), General Motors Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) and Marriott International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAR#NASDAQ">MAR</a>).
The materials sector, as tracked by the Materials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>), was showing the most strength at the time of writing, climbing approximately 0.6% following the Fed decision. The energy sector, tracked by the Energy&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>), was the weakest, down 0.3% following the rate cut. Energy stocks had performed well on Wednesday ahead of the Fed decision, which may explain some of the relative weakness in afternoon trading.
Here&#8217;s a look at how various ETFs tracking the price-weighted Dow Jones Industrial Average, tech stocks, small caps, treasuries and gold are faring following the Fed&#8217;s latest move.
<ul>
<li>SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>): up 0.38% at $418.87.</li>
</ul>
<ul>
<li>Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>): up 0.59% at $476.25.</li>
</ul>
<ul>
<li>IShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>): up 2.31% at $224.36. Small caps outperformed broader markets ahead of the rate cut and continued to outperform in afternoon trading.</li>
</ul>
<ul>
<li>IShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>): down 0.36% at $100.48.</li>
</ul>
<ul>
<li>SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>): up 0.66% at $239.02. Gold hit all-time highs following the Fed&#8217;s rate decision.</li>
</ul>
It&#8217;s also worth noting that crypto markets are volatile following the Fed decision on rates. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was down 0.86% over a 24-hour period, trading at $60,480, but well off its lows for the day, and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) was down 1.79% at $2,322. 
Check This Out: <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40926026/federal-reserve-delivers-bold-0-5-rate-cut-signals-further-easing-ahead">Federal Reserve Delivers Bold 0.5% Rate Cut, Signals Further Easing Ahead</a>
The increased volatility is likely a result of <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40883274/senator-warren-urges-fed-to-slash-rates-by-0-75-veteran-investor-warns-even-0-5-cut">uncertainty heading into the meeting</a>. According to CME&#8217;s <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">FedWatch tool</a>, the market was projecting a 61% chance of a larger 0.5% rate cut heading into the meeting versus a 39% chance of a smaller 0.25% cut.
As reported by Benzinga, the updated quarterly Dot Plot, which helps signal the Fed&#8217;s future policy intentions, indicates a more aggressive path for rate cuts than previously projected following Wednesday&#8217;s 0.5% cut. The median projection now calls for a total of 1% in rate cuts in 2024.
SPY Price Action: At the time of publication, the <a href="https://www.benzinga.com/quote/SPY">SPDR S&amp;P 500</a> was up 0.44%, trading at $565.62, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40908202/10-etfs-investors-secretly-bought-before-the-feds-make-or-break-interest-rate-cal">10 ETFs Investors Secretly Bought Before The Fed&#8217;s Make-Or-Break Interest Rate Call</a></li>
</ul>
Watch Fed Chair Jerome Powell&#8216;s press conference here: 
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="&#x1f534;WATCH LIVE: Jerome Powell Speaks, FOMC Press Conference &#x7C; September 18th, 2024" width="500" height="281" src="https://www.youtube.com/embed/qVdXli47cWk?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
This illustration was generated using artificial intelligence via Midjourney.

$ETH

iShares Trust Barclays 20+ Year Treasury Bond Fund

S&P 500, Gold Strike All-Time Highs, Small Caps Rally After Fed Slashes Interest Rates For First Time In 4 Years (UPDATED)

Wall Street is jittery hours before the highly anticipated Federal Open Market Committee (FOMC) meeting, with all major indices posting modest losses by midday in New York. While a Federal Reserve rate cut is considered a done deal, the market remains divided on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40921827/fed-decision-is-here-5-things-investors-need-to-know-ahead-of-wednesdays-pivotal-in">magnitude of the cut. </a>
Current implied probabilities show a 60% chance of a 50-basis-point reduction, while a smaller 25-basis-point cut has lately gained traction, rising to 40% odds, as per CME FedWatch.
The growing expectation of a smaller cut has pushed Treasury yields higher across the curve, reflecting a shift in market sentiment.
Amid this uncertainty, the CBOE Volatility Index (VIX), often seen as the market&#8217;s fear gauge, spiked 8%, signaling heightened investor anxiety.
The U.S. dollar steadied, recovering from overnight losses. Commodities retreated, with oil prices down 0.9%, despite a fresh escalation of tensions in the Middle East, and silver slipping 1%. Gold remained flat.
In the cryptocurrency market, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) declined 1.5%, dipping below the $60,000 mark after a 3.6% rally on Tuesday.
<h3 class="wp-block-heading">Wednesday&#8217;s Performance In Major U.S. Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day chg %</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,622.28</td>
<td>-0.2%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>41,482.17</td>
<td>-0.3%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,369.89</td>
<td>-0.3%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,201.42</td>
<td>-0.5%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:05 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091824&amp;t=be2bearmibe3na1">Benzinga Pro</a> data: 
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.3% lower to $561.44.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;fell 0.3% to $416.11.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.4% to $471.53.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) eased 0.5% to $218.40.</li>
<li>The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) outperformed, up 0.2%. The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) lagged, down 0.8%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
<ul>
<li>ResMed Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RMD#NYSE">RMD</a>) fell over 5% after Wolfe Research cut the stock rating from &#8216;Peer Perform&#8217; to &#8216;Underperform.&#8217;</li>
<li>General Motors Co.(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) shares surged over 2% on Wednesday following the announcement that its electric vehicle customers will soon be able to access Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)&#8217;s Supercharger network using a GM-approved adapter.</li>
</ul>
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<li><a href="https://www.benzinga.com/markets/equities/24/09/40923390/20-s-p-500-stocks-that-move-the-most-when-the-fed-starts-cutting-interest-rates">20 S&amp;P 500 Stocks That Move The Most When The Fed Starts Cutting Interest Rates</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Stocks Edge Lower As Fed Rate Decision Looms, Treasury Yields Rise As Odds Improve For Smaller Cut: What's Driving Markets Wednesday?

The Biden administration announced a pause on pending decisions on<a href="https://www.benzinga.com/news/24/01/36805265/president-biden-announces-lng-export-decisions-pause" target="_blank" rel="noreferrer noopener"> liquefied natural gas (LNG) exports</a> back in January.
And Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) CEO Michael Wirth hasn&#8217;t been happy about it. 
What Happened: In a speech at the GasTech conference in Houston on Tuesday, Wirth predicted that the permitting halt will lead to higher energy costs, jeopardize supplies for America's European allies, and increase emissions by delaying the shift from coal to gas, <a href="https://finance.yahoo.com/news/chevron-ceo-attacks-biden-lng-163106836.html">reported</a> Bloomberg.
Wirth further remarked that &#8220;AI's advancement will depend not just on the innovation hubs of Silicon Valley but also on the natural gas fields of the Permian Basin,&#8221; per Reuters.
He also criticized the Biden administration for imposing a moratorium on LNG exports, advocating instead for an end to its criticism of natural gas. Additionally, Wirth proposed that moving from coal to gas could represent &#8220;the most significant carbon reduction effort ever.&#8221;
Why It Matters: President Joe Biden said in a statement in January, "This pause on new LNG approvals sees the climate crisis for what it is: the existential threat of our time,"
There&#8217;s also concern that the rise of artificial intelligence data centers have high power demands, which can undermine U.S. climate goals. The White House established a task force on AI Datacenter Infrastructure to align policies with economic and environmental objectives.
Last week, Chevron Shipping teamed up with&nbsp;Mitsui O.S.K. Lines (MOL)&nbsp;to install the Wind Challenger, a wind-assisted <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40858554/chevron-takes-step-towards-greener-shipping-details" rel="noreferrer noopener">propulsion&nbsp;system, on a new LNG carrier</a>.
Investors can gain exposure to the stock via&nbsp;EA Series Trust Strive U.S. Energy ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRLL#NYSE">DRLL</a>) and&nbsp;SPDR Select Sector Fund – Energy Select Sector&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>).
Also Read: <a href="https://www.benzinga.com/markets/equities/24/09/40692415/energy-giant-chevron-boosts-gulf-of-mexico-production-with-new-water-injection-projects" target="_blank" rel="noreferrer noopener">Energy Giant Chevron Boosts Gulf Of Mexico Production With New Water Injection Projects</a>
Price Action: Chevron shares are up 0.15% at $143.62 at the last check Wednesday.
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40775786/oil-prices-seesaw-as-potential-storm-nears-us-gulf-coast" target="_blank" rel="noreferrer noopener">Oil Prices Seesaw As Potential Storm Nears US Gulf Coast</a></li>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Chevron Slams Biden's LNG Export Pause, Touts Natural Gas For AI Growth: Report

Wall Street experienced a slightly positive session Tuesday, supported by investor optimism as the Federal Open Market Committee (FOMC) kicked off its two-day meeting, expected to deliver the first interest rate cut in over <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40878710/investors-bet-on-50-basis-point-rate-cut-wall-street-analysts-urge-caution-this-is-">four years on Wednesday.</a>
The session&#8217;s notable performers were small caps, with the Russell 2000 index surging about 1.3%, targeting its highest close since early August and outperforming larger-cap indices.
Among industries, solar, clean energy and regional banks led gains as traders eyed pockets of the markets that would benefit from lower interest rates.
On the macro front, August retail sales provided an upside surprise, growing by 0.1% month-over-month compared to <a href="https://www.benzinga.com/news/econ-s/24/09/40902634/retail-spending-remains-on-solid-footing-but-fed-must-weigh-rate-cuts-impact-on-workers-says-economi">the expected 0.2% decline</a>. This stronger-than-anticipated data slightly reduced the likelihood of a more aggressive 50-basis-point rate cut, with market-implied probabilities for such a move slipping from 67% to 63%, according to the CME FedWatch Tool.
Short-dated Treasury yields rose as expectations for a substantial rate cut moderated. Meanwhile, the dollar strengthened, gaining 0.2%. 
In the commodities market, gold retreated 0.7% from Monday&#8217;s record-high close. Oil prices increased by 1.3% following escalating geopolitical tensions in the Middle East.
Reports indicate a<a href="https://www.benzinga.com/etfs/specialty-etfs/24/09/40903888/simultaneous-pager-explosions-across-lebanon-leave-over-1-000-hezbollah-militants-wounded"> coordinated attack in Lebanon</a> led to thousands of pagers linked to Hezbollah militants being detonated, resulting in numerous casualties within the Iran-backed organization.
Additionally, Iran&#8217;s ambassador to Lebanon is reportedly injured, though the official responsibility for the attack remains unclaimed.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) jumped over 4%, buoyed by positive ETF inflows, signaling renewed investor interest in the digital asset space as interest rates shift. 
<h1 class="wp-block-heading">Tuesday&#8217;s Performance In Major US Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,220.44</td>
<td>1.3%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,642.79</td>
<td>0.2%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,441.83</td>
<td>0.1%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>41,636.05</td>
<td>0.0%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:38 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091724&amp;t=be2bearmibe3na1">Benzinga Pro</a> platform:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.1% higher to $563.44.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;inched 0.1% up to $417.61.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) also rose 0.1% to $473.60.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 1.2% to $220.28.</li>
<li>The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) outperformed, up 1.2%. The Health Care Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) lagged, down 0.9%.</li>
</ul>
<h1 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h1>
<ul>
<li>Moderna Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) surged over 6% after receiving approval from Health Canada for its updated SPIKEVAX COVID-19 vaccine, designed to target the KP.2 sub-lineage of SARS-CoV-2 in individuals aged six months and older.</li>
<li>GE Vernova Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>) climbed 3.5% following an upgrade from Bank of America, which raised its rating on the stock from Neutral to Buy and increased the price target from $200 to $300.</li>
<li>Hewlett Packard Enterprise Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) advanced nearly 5% after Bank of America also upgraded its rating from Neutral to Buy and boosted the price target from $21 to $24.</li>
</ul>
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</ul>
The image was created using artificial intelligence MidJourney.

Retail Sales

MRNA

Small Caps, Bitcoin Rally As Traders Await Fed Rate Cut; Treasury Yields, US Dollar Tick Up On Strong Retail Sales: What's Driving Markets Tuesday?

After falling to the lowest level since December 2021, on Tuesday, oil recorded its first weekly gain in a month, buoyed by Hurricane Francine, which disrupted production in the Gulf of Mexico. Brent crude rose above $72 per barrel, pushing its weekly climb to about 2%, while West Texas Intermediate traded below $70 per barrel.
However, higher oil prices failed to fuel the rally in the energy space with many ETFs still in red. The popular ETFs &mdash; Energy Select Sector SPDR (ARCA:XLE), Vanguard Energy ETF (ARCA:VDE), SPDR S&amp;P Oil &amp; Gas Exploration &amp; Production ETF (ARCA:XOP), Fidelity MSCI Energy Index ETF (ARCA:FENY) and VanEck Vectors Oil Services ETF (ARCA:OIH) &mdash; were down more than 2% each. All these ETFs have a Zacks Rank #1 (Strong Buy) or #2 (Buy).
The storm had prompted a production shutdown of around 730,000 barrels a day (bpd) in the Gulf of Mexico (about 42% of Gulf production), according to the US Bureau of Safety and Environmental Enforcement. The US Bureau of Safety and Environmental Enforcement stated that about 24% of crude production and 26% of natural gas output in the US Gulf of Mexico were offline due to the storm.
<h3>Energy ETFs in Focus</h3>
Energy Select Sector SPDR: It is the largest and the most popular ETF in the energy space, with an AUM of $34.1 billion. It offers exposure to the broad energy space and follows the Energy Select Sector Index. Energy Select Sector SPDR holds 22 securities in its basket and charges 9 bps in annual fees.
Vanguard Energy ETF: It provides exposure to a basket of 113 energy stocks by tracking the MSCI US Investable Market Energy 25/50 Index. Vanguard Energy ETF has amassed $7.6 billion in its asset base and charges 10 bps in annual fees.
SPDR S&amp;P Oil &amp; Gas Exploration &amp; Production ETF: It provides exposure to 53 oil and gas exploration and production companies by tracking the S&amp;P Oil &amp; Gas Exploration &amp; Production Select Industry Index. It has an AUM of $2.6 billion and charges 35 bps in fees per year.
Fidelity MSCI Energy Index ETF: It follows the MSCI USA IMI Energy Index, holding 112 stocks in its basket. FENY charges 8 bps in annual fees and has accumulated $1.5 billion in its asset base.
VanEck Vectors Oil Services ETF: It tracks the MVIS U.S. Listed Oil Services 25 Index, which offers exposure to companies involved in oil services to the upstream oil sector, including oil equipment, oil services or oil drilling. VanEck Vectors Oil Services ETF holds 26 stocks in its basket. With an AUM of $1.5 billion, it charges 35 bps in annual fees.
<h2>Concerns</h2>
<h2>Weak Demand/Supply Trends</h2>
Despite the positive momentum, oil prices are still trading close to three-year lows amid persistent concerns over slowing demand.
International Energy Agency (IEA) lowered the oil demand outlook by 70,000 bpd to 900,000 bpd for this year, citing weak China demand and feeble growth in other regions. The Organisation of Petroleum Exporting Countries (OPEC) also slashed the 2024 oil demand growth forecast for the second time. It expects world oil demand to rise by 2.03 million bpd in 2024, down from last month&#39;s forecast of growth of 2.11 million bpd.
Last week, OPEC and its allies extended the oil production cuts of 2.2 million bpd through November and planned to phase out those beginning in December until November 2025. However, it will increase production in 2025 for the first time since 2022. The first addition to supply, of 180,000 bpd, is now expected in December. Additionally, growing output from the United States, Guyana, Brazil and Canada will continue to take a toll on oil prices.
<h2>Geopolitical Tensions</h2>
Geopolitical risks in the Middle East will continue to provide some support to oil prices. The ongoing conflict in Gaza and the potential for a broader regional escalation, involving Iran, Hamas and Hezbollah are contributing to market uncertainty.
<h2>Analysts Go Bearish</h2>
Analysts in a Reuters poll reduced their oil price forecasts for 2024 for the fourth consecutive month. The poll shows Brent prices to average $82.86 per barrel this year, down from $83.66 a barrel expected in the July forecast. West Texas Intermediate is projected to average $78.82 per barrel in 2024, down from $79.22 a barrel expected in last month&#39;s poll.
Analysts believe the bullish drivers of the ongoing OPEC+ cuts and geopolitical flare-ups in the Middle East will be offset by the bearish demand trends and oil imports in China and Europe.
<h2>Will the Fed Provide Some Respite?</h2>
The Fed is expected to cut interest rates at its meeting scheduled to take place on Sept 17 and 18. Lower interest rates tend to lower the expenses of purchasing goods and services, potentially stimulating economic expansion and driving oil demand.
<a href="https://www.zacks.com/stock/news/2335964/rise-in-oil-price-fails-to-lift-energy-etfs-what-s-ahead?cid=CS-BENZ-FT-etf_news_and_commentary-2335964">To read this article on Zacks.com click here.</a>

Rise in Oil Price Fails to Lift Energy ETFs: What's Ahead?

Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) shares are trading higher on Friday. Chevron Shipping teamed up with Mitsui O.S.K. Lines (MOL) to install the Wind Challenger, a wind-assisted propulsion <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40852102/chevron-shipping-company-and-mol-to-install-wind-challenger-on-lng-carrier" rel="noreferrer noopener">system, on a new LNG carrier</a>.
This vessel will be the world&#8217;s first LNG carrier with wind-assisted propulsion, supporting Chevron&#8217;s efforts to lower carbon intensity.
The vessel is being built at the Geoje Shipyard of Hanwha Ocean Co., Ltd., with delivery scheduled for 2026.
In August 2024, MOL received approval in principle (AiP) from Nippon Kaiji Kyokai (Class NK), marking the first approval for an LNG carrier with a Wind-Assisted Ship Propulsion System. The Chevron-chartered vessel will be the first to implement this technology.
Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40556466/exxon-bets-big-on-oil-expects-crude-demand-to-defy-green-transition" rel="noreferrer noopener">Exxon Bets Big On Oil: Expects Crude Demand To Defy Green Transition</a>
Takeshi Hashimoto, President, and CEO of Mitsui O.S.K. Lines, said, &#8220;With the understanding and cooperation of Chevron, we are delighted to be able to expand the Wind Challenger Project to LNG carriers in addition to the two delivered Wind Challenger-equipped bulkers and other ongoing projects.&#8221;
Also Read: <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/08/40526637/chevron-secured-new-ghg-assessment-permit-in-australia" rel="noreferrer noopener">Chevron Secured New GHG Assessment Permit in Australia</a>
&#8220;Achieving GHG reduction in the maritime transport of LNG, which is increasingly in demand worldwide as a transition fuel, is a very important mission for us. This project will undoubtedly be a significant milestone towards achieving &#8216;net-zero emissions by 2050&#8217;, a medium to long-term goal of the Mitsui O.S.K. Lines Group.&#8221;
This month, Chevron disclosed that it had started water injection operations at its Jack/St. Malo and Tahiti facilities in<a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40692415/energy-giant-chevron-boosts-gulf-of-mexico-production-with-new-water-injection-projects" rel="noreferrer noopener"> the&nbsp;deepwater U.S. Gulf of Mexico</a>.
Investors can gain exposure to the stock via&nbsp;EA Series Trust Strive U.S. Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRLL#NYSE">DRLL</a>) and&nbsp;SPDR Select Sector Fund – Energy Select Sector&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>).
Price Action: CVX shares are up 1.17% at $140.84 at the last check Friday.
Image via Shutterstock
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Chevron Takes Step Towards Greener Shipping: Details

A broadly softer-than-expected U.S. producer inflation report triggered market shifts on Thursday, driving down the value of the dollar and Treasury yields while boosting gold prices to <a href="https://www.benzinga.com/topic/gold">a new all-time high. </a>
Meanwhile, U.S. equity futures ticked upward, signaling a potential fourth consecutive session of gains for U.S. stocks.
Economic data released Thursday showed the headline Producer Price Index (PPI) for final demand slowing to 1.7% year-over-year in August, below market expectations of 1.8% and down from July's downwardly revised 2.1%. On a monthly basis, PPI increased by 0.2%, surpassing the forecasted 0.1% and improving from the revised flat reading for July.
Core PPI, which excludes volatile food and energy prices, remained stable at 2.4% year-over-year, slightly underperforming the expected 2.5%. On a month-to-month basis, core PPI rebounded with a 0.3% rise, up from the previous month's 0.2% decline and surpassing expectations of a 0.2% increase.
In parallel, weekly initial jobless claims came in at 230,000, in line with market forecasts, signaling stable labor market conditions.
Across the Atlantic, the European Central Bank (ECB) cut its key policy rate by 25 basis points, marking the second reduction since June. The ECB justified the move as part of its efforts to moderate monetary policy. 
The ECB kept its inflation outlook steady but revised its growth forecasts downward. The central bank emphasized a data-dependent approach for future decisions, with no commitment to further rate cuts.
<h3 class="wp-block-heading">Market Reactions</h3>
Market reactions to the U.S. data were relatively muted. Rate-cut expectations for the Federal Reserve's meeting next week remained stable, with the probability of a 25-basis-point cut holding firm at 85%. 
<ul>
<li>U.S. Treasury yields softened, with the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) down 0.2% as yields slightly decreased.</li>
<li>The U.S. dollar, as tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), slipped 0.1%. </li>
<li>The S&amp;P 500, as tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), traded 0.2% higher in the premarket, as of 9:05 a.m. ET.</li>
<li>Tech stocks, followed by the Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), were 0.1% higher.</li>
<li>Small caps, as tracked by the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>), rose 0.4%.</li>
<li>The&nbsp;Energy Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) was the top-performing S&amp;P 500 sector in the premarket, up 0.6%.</li>
<li>Gold prices, monitored through the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), rose by 1.1% to 2,538 per ounce.</li>
<li>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rose 1.3%.</li>
</ul>
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40794070/exclusive-lazard-small-cap-expert-predicts-30-50-russell-2000-rally-on-the-back-of-">EXCLUSIVE: Lazard Small-Cap Expert Predicts 30%-50% Russell 2000 Rally On The Back Of Lower Interest Rates (UPDATED)</a></li>
</ul>
Photo: Shutterstock

Bonds

XLRE

Gold Reaches Record High As Dollar Weakens On Soft Producer Inflation Data; Wall Street Eyes Fourth Day Of Gains

Wall Street witnessed a broad sell-off on Wednesday, except for the tech sector, as investor optimism over disinflation progress cooled following a <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40812986/inflation-slows-to-2-5-in-august-lowest-rate-since-february-2021-core-index-remai">mixed August inflation report.</a>
The Consumer Price Index (CPI) rose 2.5% year-over-year, slightly below the 2.6% estimate and down from July&#8217;s 2.9%, marking the slowest pace of inflation since February 2021. The bulk of this decline came from energy-related categories.
However, core inflation — excluding the more volatile components like food and energy — rose 0.3% month-over-month, surpassing expectations of 0.2%. The annual core CPI remained at 3.2%, reflecting persistent inflation in service-related sectors.
A key driver of inflation continues to be shelter costs, which rose 0.5% from the previous month—the sharpest increase since January — and account for nearly a third of the total CPI.
The report dashed hopes for a Federal Reserve rate cut in the upcoming meeting. Market expectations for a 50-basis-point cut plummeted to just 13%, down from 34% the day before, as per CME FedWatch. 
The inflation data gave the U.S. dollar a lift and nudged Treasury yields higher across the board. Sectors most sensitive to interest rates, such as real estate, materials and financials, led the sell-off.
In contrast, tech stocks defied the broader market slump, driven by strong gains in the semiconductor space. 
Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) surged 4.5%, buoyed by the market's reaction to the <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40817347/donald-trump-lost-debate-to-kamala-harris-will-lose-ground-in-the-polls-polymarket-traders">latest U.S. presidential debate</a> between Vice President Kamala Harris and former President Donald Trump. 
The two candidates engaged in a back-and-forth about <a href="https://www.benzinga.com/general/politics/24/09/40731719/goldman-sachs-kamala-harris-victory-bodes-well-for-us-economy-trump-tariffs-will-drive-up-inflat">tariffs on goods</a>, which would impact inflation and the chipmaking industry.
Solar stocks also rallied, with the Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) jumping over 4%, as the prospect of a Harris administration increased <a href="https://www.benzinga.com/markets/equities/24/09/40817317/solar-shares-climb-as-harris-gains-momentum-post-debate-against-trump-7-top-gainers-in-clean-ene">optimism for renewable energy policies.</a> First Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) was the top performer within the industry, jumping over 12%. 
Elsewhere, gold remained flat, while oil prices rebounded over 2% after Tuesday&#8217;s sell-off. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) dropped more than 2%.
<h3 class="wp-block-heading">Wednesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>18,865.96</td>
<td>0.2%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,476.37</td>
<td>-0.3%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,092.21</td>
<td>-0.5%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>40,436.47</td>
<td>-0.7%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:50 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091124&amp;t=be2bearmibe3na1">Benzinga Pro</a> data: 
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.3% lower to $547.10.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;fell 0.7% to $405.59.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) inched 0.2% higher to $459.93.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.4% to $207.30.</li>
<li>The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, up 0.9%. The Financials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) was the laggard, down 1.4%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
<ul>
<li>Lithium-related stocks surged on Wednesday after reports of production disruptions in China sent the price of the commodity climbing. Albemarle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>), one of the world&#8217;s largest lithium producers, rallied 9.7% on the news.</li>
<li>AppLovin Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) surged 8.6% to $93.63 after Bank of America analyst Omar Dessouky reiterated a Buy rating and raised the price target from $100 to $120.</li>
<li>Lucid Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) rallied 8.1% amid bullish remarks from Bank of America analyst John Murphy, CFA who expects the Gravity SUV to get a large total addressable market.</li>
<li>GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) tanked 13.8% as revenue missed expectations last quarter. </li>
<li>Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) plummeted 12.8% in reaction to the presidential debate. </li>
</ul>
Now Read:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40816734/gamestop-analyst-says-retailer-could-close-all-stores-operate-as-bank-to-manage-los">GameStop Analyst Says Retailer Could Close All Stores, Operate As Bank To Manage Losses</a></li>
</ul>
Image: Shutterstock

Earnings

FSLR

LCID

Stocks Fall As Inflation Data Chills Rate-Cut Excitement, Chipmakers, Solar Sector Soar On Harris-Linked Boost: What's Driving Markets Wednesday?

Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) plans to cut production at its Baton Rouge, Louisiana refinery to as low as 20% of its 522,500 barrel-per-day capacity by Wednesday, as Hurricane Francine is forecasted to pass <a href="https://www.benzinga.com/topic/oil">just east of the facility</a>.
On Tuesday night, Francine intensified into a hurricane, leading Louisiana residents to evacuate inland before its expected landfall on Wednesday, reported Reuters.
As per the report, the storm is forecasted to bring life-threatening winds, heavy rains, and a storm surge of up to 10 feet (3 meters).
The Baton Rouge refinery, the sixth largest in the U.S., is scaling back operations in anticipation of the storm.
Exxon spokesperson Lauren Kight said, &#8220;We're closely monitoring and preparing for severe weather that may impact our Baton Rouge operations.&#8221; 
Other major U.S. Gulf oil and gas producers are also gearing up to weather the storm.
On Tuesday, Shell said that it is closely monitoring Tropical Storm Francine and has shut in production at its Perdido, Auger, and Enchilada/Salsa assets due to <a target="_blank" href="https://www.shell.us/media/us-storm-center/shell-us-storm-updates.html" rel="noreferrer noopener">downstream</a> impacts.
The company added that drilling at the Whale asset, which is scheduled to begin operations later this year, has also been safely paused.
According to S&amp;P Global Commodity Insights, the U.S. offshore is currently producing <a target="_blank" href="https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/oil/090924-louisiana-refineries-for-brace-for-tropical-storm-francine-texas-plants-on-guard" rel="noreferrer noopener">approximately</a> 1.8 million barrels per day (b/d) of crude oil and 1.9 billion cubic feet per day (Bcf/d) of natural gas.
This week, Exxon reportedly withdrew from bidding for Galp Energia&#8217;s 40% stake in Namibia&#8217;s Mopane oil discovery. The discovery holds 10 billion barrels of oil and gas, <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40772105/exxon-passes-on-10b-namibian-oil-field-report" rel="noreferrer noopener">valued at over $10 billion</a>.
Investors can gain exposure to the XOM via&nbsp;Energy Select&nbsp;Sector&nbsp;SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) and&nbsp;IShares U.S.&nbsp;Energy&nbsp;ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYE#NYSE">IYE</a>).
Price Action: Exxon shares are down more than 1% at $109.67 at the last check Wednesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/08/40556466/exxon-bets-big-on-oil-expects-crude-demand-to-defy-green-transition" target="_blank" rel="noreferrer noopener">Exxon Bets Big On Oil: Expects Crude Demand To Defy Green Transition</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image: Shutterstock

Exxon, Other US Oil Majors Brace For Tropical Storm Francine: Report

When people spend more, prices rise. Higher interest rates incentivize investment over consumption, but now we're heading back into an environment where borrowing and spending is incentivized again.

Another Inflationary Match Lit

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In this video, Ira Epstein reviews the day's trading in various SPDR-ETF markets for the trading day that ended, Monday, September 30.

SPDR ETF Report For Monday, Sept 30

The More It Underperforms, The More I Buy

Weekly ETF flows: investors pump $19.8B in SPY at the end of Q3

Top movers as S&P 500 clocks another quarter of growth

Top movers as S&P 500 clocks another quarter of record growth

SA Chart: Which S&P 500 sectors performed best in September?

Consumer staples with lowest quant rating are worst performers in Q3: DLTR, DG, LW

Energy ETFs are becoming increasingly appealing due to rising oil prices and growing energy demand. Supply disruptions and potential Fed rate cuts further enhance profitability and investment potential in the energy sector. Therefore, it could be wise to consider watching energy ETFs: iShares Global Energy (IXC), Vanguard Energy Index Fund ETF (VDE), and The Energy Select Sector SPDR (XLE). Read on... The energy market is poised for growth, driven by rising oil prices, increasing demand for petrochemicals, and higher global incomes. Emerging markets in Asia are playing a key role in this expansion. As oil prices surge, energy companies, especially oil producers, stand to benefit from higher revenues.
In this environment, investors might want to keep an eye on top energy ETFs, such as iShares Global Energy ETF (<a href="https://stocknews.com/stock/IXC/">IXC</a>), Vanguard Energy Index Fund ETF Shares (<a href="https://stocknews.com/stock/VDE/">VDE</a>), and The Energy Select Sector SPDR Fund (<a href="https://stocknews.com/stock/XLE/">XLE</a>).
Despite weak economic data from China, <a href="https://www.accuweather.com/en/hurricane/hurricane-francine-disrupted-oil-industry-and-roared-ashore-in-louisiana-with-high-winds-flooding/1691417">Hurricane Francine</a> disrupted the oil industry in September 2024, leading to <a href="https://www.reuters.com/markets/commodities/oil-prices-inch-up-fed-rate-cut-outlook-2024-09-16/">higher oil prices</a> due to halted production and supply concerns. This environment benefits companies with available production capacity. Additionally, supply disruptions have also driven up natural gas prices, creating broader opportunities in the energy market.
Meanwhile, speculation about potential Fed rate cuts could stimulate economic activity and increase oil demand, fostering an optimistic outlook for the energy market. Despite recent <a href="https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/oil/091024-opec-trims-global-oil-demand-forecasts-as-prices-tumble#:~:text=Global%20oil%20demand%20will%20grow,40%2C000%20b%2Fd%20downward%20revision.">downward revisions</a> in global oil demand, optimism persists due to strong growth in non-OECD countries and a rebound in OECD economies. This positive momentum could drive global oil demand beyond current expectations into 2025.
Furthermore, global oil demand is set to reach a record <a href="https://www.reuters.com/business/energy/us-eia-lifts-oil-demand-forecast-says-prices-will-recover-above-80bbl-2024-09-10/">103.10 million barrels per day</a> in 2024, with oil prices projected to rise above $80 per barrel due to a growing supply deficit. Given this backdrop, let's evaluate the three <a href="https://stocknews.com/category/energy-equities-etfs/">Energy Equities ETFs</a> picks, starting with number three.
ETF #3: iShares Global Energy ETF (<a href="https://stocknews.com/stock/IXC/">IXC</a>)
IXC is an exchange-traded fund launched by BlackRock, Inc. It is managed by BlackRock Fund Advisors. The fund invests in the public equity markets of the global region. It invests in stocks of companies operating across the energy sectors, focusing on growth and value stocks of large-cap companies. It seeks to track the performance of the S&amp;P Global 1200 Energy 4.5/22.5/45 Capped Index using a representative sampling technique.
With $1.99 billion in assets under management (AUM), IXC's top holding is Exxon Mobil Corporation (<a href="https://stocknews.com/stock/XOM/">XOM</a>) with an 18.83% weighting, followed by Chevron Corporation (<a href="https://stocknews.com/stock/CVX/">CVX</a>), with a 9.04% weighting, and Shell Plc (<a href="https://stocknews.com/stock/SHEL/">SHEL</a>), with 8.01%. It has a total of 53 holdings.
It has an expense ratio of 0.41%, lower than the category average of 0.47%. It currently has a <a href="https://www.investopedia.com/terms/n/nav.asp">NAV</a> of $39.48. IXC's fund outflows were $1.05 billion over the past six months.
The fund's annual dividend of $1.53 yields 3.89% on the current share price. Its four-year average yield is 4.68%. Moreover, its dividend payouts have increased at a CAGR of 14.5% over the past three years and 4.8% over the past five years.
IXC has gained 2.2% year-to-date but declined 4.4% over the past year, closing the last trading session at $39.94.
IXC's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect this uncertain outlook. The ETF's overall C rating equates to a Neutral in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
IXC has a C grade for Peer and Trade. Of the 46 ETFs in the <a href="https://stocknews.com/category/energy-equities-etfs/">Energy Equities ETFs</a> group, it is ranked #17. <a href="https://stocknews.com/stock/IXC/">Click here</a> to access all of IXC's POWR Ratings.
ETF #2: Vanguard Energy Index Fund ETF Shares (<a href="https://stocknews.com/stock/VDE/">VDE</a>)
VDE is an exchange-traded fund launched and managed by The Vanguard Group, Inc. The fund invests in the public equity markets, focusing on stocks of companies operating across the energy sectors. It invests in growth and value stocks of companies with diversified market capitalizations. The fund seeks to track the performance of the MSCI US Investable Market Index (IMI)/Energy 25/50 using a full replication technique.
With $7.58 billion in AUM, the fund has a total of 114 holdings. VDE's top holding is XOM with a 22.56% weighting, followed by CVX with a 13.58% weighting, and ConocoPhillips (<a href="https://stocknews.com/stock/COP/">COP</a>) with 6.66%.
VDE has an expense ratio of 0.10%, lower than the category average of 0.47%. It currently has a NAV of $119.25. Its fund outflows came in at $402.08 million over the past year.
VDE's annual dividend of $3.83 yields 3.21% on the current share price. Its four-year average yield is 3.65%. Likewise, the fund's dividend payouts have increased at a CAGR of 15.3% over the past three years and 7.3% over the past five years.
VDE has gained 3% year-to-date; however, it declined 5.3% over the past six months, closing the last trading session at $120.84.
VDE's bleak fundamentals are reflected in its POWR Ratings. The ETF has an overall rating of C, translating to a Neutral in our proprietary rating system.
It has a C grade for Peer and Trade. It is ranked #15 in the same group. To access all the POWR Ratings for VDE, <a href="https://stocknews.com/stock/VDE/">click here</a>.
ETF #1: The Energy Select Sector SPDR Fund (<a href="https://stocknews.com/stock/XLE/">XLE</a>)
XLE is an exchange-traded fund launched by State Street Global Advisors, Inc., and managed by SSGA Funds Management, Inc. It invests in the public equity markets of the United States, focusing on stocks of companies operating across the energy sectors. The fund targets growth and value stocks of companies with diversified market capitalizations. It seeks to track the performance of the Energy Select Sector Index using a full replication technique.
With $33.5 billion in assets under management (AUM), XLE's top holding is XOM with a 23.84% weighting, followed by CVX, with a 16.89% weighting, and EOG Resources, Inc. (<a href="https://stocknews.com/stock/EOG/">EOG</a>), with 6.24%. XLE has a total of 24 holdings.
XLE has an expense ratio of 0.09%, higher than the category average of 0.47%. It currently has a NAV of $85.58. Its fund outflows came in at $1.48 billion over the past year.
The ETF pays an annual dividend of $2.92, which yields 3.38% on the current price. It has a four-year average dividend yield of 4.33%. Also, XLE's dividend payouts have increased at a CAGR of 11.4% over the past three years and 6.5% over the past five years.
XLE has gained 3.3% year-to-date and declined 5.5% over the past six months, closing the last trading session at $86.57.
XLE's POWR Ratings reflect its mixed prospects. The ETF's overall A rating equates to a Strong Buy in our proprietary rating system.
XLE has a C grade for Peer and Trade. In the Energy Equities ETFs group, it is ranked #14. <a href="https://stocknews.com/stock/XLE/">Click here</a> to access all of XLE's POWR Ratings.
What To Do Next?
43 year investment veteran, Steve Reitmeister, has just released his 2024 market outlook along with trading plan and top 11 picks for the year ahead.
<a href="https://report.stocknews.com/sign-up/stock-market-outlook-2024/?formplacement=artbotad_smo24_rep">2024 Stock Market Outlook &gt;</a>

<hr />
XLE shares were trading at $87.46 per share on Tuesday afternoon, up $0.89 (+1.03%). Year-to-date, XLE has gained 6.01%, versus a 18.98% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Abhishek Bhuyan</h2> <img src='https:/wp-content/uploads/2023/07/ABhuyan.jpg' style="float:left; padding:5px;width:125px;">Abhishek embarked on his professional journey as a financial journalist due to his keen interest in discerning the fundamental factors that influence the future performance of financial instruments.<a href="https://stocknews.com/authors/?author=abhishek-bhuyan">More...</a>The post <a href=https://stocknews.com/news/xle-vde-ixc-3-top-energy-etfs-to-watch-as-oil-prices-rise/>3 Top Energy ETFs to Watch as Oil Prices Rise</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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