All the news lately seems to involve energy. We hear about possible interruptions in oil supply and a heat wave across the country sending energy use higher and higher. What does that mean for an exchange traded fund that tracks energy? The Energy Select Sector SPDR (XLE) is up 12% for the year and 6% for the month. Top holdings include ExxonMobile (XOM), Chevron (CVX) and ConocoPhillips (COP). Each of these holdings are up over 13% for the year.
For full disclosure this ETF is held in our client accounts.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.