Cedears: oil companies grow up to 6% due to the new rise in crude oil

Cedears: oil companies grow up to 6% due to the new rise in crude oil

The barrel of Brent from the North Sea for delivery in May rose to US$120.63, while the barrel of West Texas Intermediate stands at US$113.78. US commercial crude oil stocks fell much more than expected last week, fueling the rise again.

On the other hand, the greatest decreases correspond to Adobe (-8.9%), Paypal (-1.5%), and Nvidia (-1.3%). As for the companies with the largest market capitalization, Apple rises 2.6% and Mercado Libre grows 1.1%. Lastly, the most traded Cedears ETFs recorded declines. The ARKK lost 0.3% and the SPY fell 0.2%.

On Wall Street, all three major indices were trading in negative territory again. The Dow Jones industrial fell 1%, while the S&p 500 lost 0.9%, as did the Nasdaq, which fell 0.9%.

Technology, consumer and financial stocks were the hardest hit sectors. Amazon.com, Alphabet Inc, Meta Platforms and Microsoft Corp fell between 0.7% and 1.1%. Energy stocks, meanwhile, were driving a sector of the S&P 500.

Source: Ambito

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts