Monday's Stock Winners Are All in 1 Place
Investors came into the new week with mixed views on where the stock market should move. Premarket gains turned into losses in early trading, only to reverse higher and lead to mixed results. Investors are still parsing out how inflation, interest rates, and economic impacts will counterbalance each other. As of 11:30 a.m. ET, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 57 points to 31,558. The S&P 500 (SNPINDEX: ^GSPC) gained 8 points to 3,920, but the Nasdaq Composite (NASDAQINDEX: ^IXIC) was still down 13 points to 11,595.
Often, stock market gains have come from broad-based moves across many sectors. That wasn't the case on Monday, however, as just about all of the rise in major market benchmarks stemmed from the strength of one industry: oil and natural gas.
It wasn't hard to see the impact that energy stocks had on the market on Monday. Upward moves of 3% for ExxonMobil (NYSE: XOM) and 2% for Chevron (NYSE: CVX) showed that even the largest integrated oil companies benefited from favorable conditions to start the week.
Source Fool.com
