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The Energy Select Sector SPDR Fund (XLE-N) has recently garnered mixed reviews from experts regarding its potential in the market. While some analysts see signs of life in oil prices, attributing this to a prospective contrarian trade and the cyclical nature of the energy sector, others highlight challenges such as geopolitical tensions and short-term pressure on oil prices stemming from ongoing global events. There is a consensus that integrated energy companies, particularly amidst expected stimulus from China and seasonal driving demands, may emerge as better investments. Furthermore, anticipation of potential interest rate cuts by the Federal Reserve in the latter half of 2024 is likely to lend support to dividend yielding stocks in the energy space, with some panelists expressing optimism about future returns. Despite the current volatility, many experts note the sector’s performance year-to-date and suggest that significant events could trigger upward movement in stock prices.
Her energy outlook: bullish. If there's a rotation based on valuation, then energy is now attractive. If the Fed cuts rates in the second half of 2024, the 2-year-yield will drop which will benefit dividend stocks like energy. Also, we're in summer driving season and an oil price shock can always happen.
The oil price is up 16% in the past 3 months and energy stocks up 11%, so stocks lag. However, interest in oil futures has not been this high since Oct. 2021, so eeryone is looking for oil opportunities. Also, hedge funds are holding their highest positions in energy since Feb. 2022, when the Russian war began. This means the spot price of oil is vulnerable to a correction, but the supply/demand imbalance makes energy stocks a buy.
Energy Select Sector SPDR Fund is a American stock, trading under the symbol XLE-N on the NYSE Arca (XLE). It is usually referred to as AMEX:XLE or XLE-N
In the last year, 9 stock analysts published opinions about XLE-N. 3 analysts recommended to BUY the stock. 3 analysts recommended to SELL the stock. The latest stock analyst recommendation is . Read the latest stock experts' ratings for Energy Select Sector SPDR Fund.
Energy Select Sector SPDR Fund was recommended as a Top Pick by on . Read the latest stock experts ratings for Energy Select Sector SPDR Fund.
Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.
9 stock analysts on Stockchase covered Energy Select Sector SPDR Fund In the last year. It is a trending stock that is worth watching.
On 2025-04-03, Energy Select Sector SPDR Fund (XLE-N) stock closed at a price of $86.74.
Oil prices have shown a little life recently. This is a contrarian trade, but likes it full year. It's part of the cyclical trade and will rise in a relief rally when rotation happens again.