- The S&P 500 is holding on to modest daily gains on Wednesday.
- Energy stocks rise sharply with Devon Energy Corp (DVN: NYSE) leading the way.
The S&P 500 Index (SPX) It opened higher on Wednesday but appears to be struggling to gather enough momentum to renew the all-time high set at 3,756 on Tuesday. At time of writing, the SPX was up 0.28% on the day at 3,737.
S&P 500 Major Changes
Earlier in the day, data released by the US Energy Information Administration (EIA) showed crude oil stocks declined by 6.1 million barrels in the week ending December 25. Supported by this report, a barrel for West Texas Intermediate rose to a daily high of $ 48.64 and gave major energy stocks a boost.
At the time of writing, Devon Energy Corp (DVN: NYSE), Occidental Petroleum Corp (OXY: NYSE), Diamondback Energy Inc (FANG: NASDAQ) and Marathon Oil Corp (MRO: NYSE) were among the best stocks. performance of the day, increasing between 4-3% and 3%.
On the other hand, the S&P 500 Communications Services Index is the only major sector trading in negative territory on Wednesday. Class A Alphabet (GOOGL: NASDAQ), Facebook (FB: NASDAQ), Intel Corp (INTC: NASDAQ) and
Shares of Netflix Inc (NFLX: NASDAQ) fell more than 1%.
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