Stock Market Update
24-Jul-24 11:05 ET
Energy stocks outperforming amid rising oil prices
Dow -347.73
at 40010.16,
Nasdaq -419.90
at 17577.45,
S&P -85.51
at 5470.23
[BRIEFING.COM] The three major indices settled into a sideways flow near session lows.
Earlier, the EIA weekly crude oil inventories showed a draw of 3.74 million barrels following last week's draw of 4.87% million barrels. WTI crude oil futures are up 0.3% to $77.16/bbl. This price action has contributed to the outperformance of the S&P 500 energy sector (+0.3%) despite natural gas futures trading 1.5% lower to $2.19/mmbtu.
The only other sectors showing gains are the real estate (+0.2%), utilities (+0.5%), and health care (+0.04%).
