As of March 12, 2024, five stocks in the energy sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The CNN Money Fear and Greed index remained in the "Greed" zone on Monday. U.S. stocks closed mixed on Monday, with the S&P 500 settling lower for the second straight session. All three major indices closed recorded losses last week, with the S&P 500 falling 0.26% and the blue-chip Dow declining 0.93%.
U.S. stocks traded mixed toward the end of trading, with the Dow Jones index turning higher on Monday. The Dow traded up 0.08% to 38,753.49 while the NASDAQ fell 0.20% to 16,052.34. The S&P 500 also fell, dropping, 0.14% to 5,116.66.
U.S. stocks traded lower midway through trading, with the Dow Jones index dipping over 50 points on Monday. The Dow traded down 0.16% to 38,662.09 while the NASDAQ fell 0.26% to 16,043.75. The S&P 500 also fell, dropping, 0.27% to 5,110.11.
Shares of EQT and Equitrans Midstream are moving in opposite directions premarket after merger deal. Under the terms of the agreement, EQT will acquire Equitrans in an all-stock transaction.
The Biden administration’s pause on approvals for new liquified natural gas liquefaction projects has tanked the price of natural gas. The low prices will curtail production, eventually leading to higher prices.
Equitrans Midstream Corp reported Q4 FY23 operating revenue of $360.6M, below estimate of $366.9M. Expenses flat, operating income up. The company's Board of Directors has been engaged in a process with third parties that have expressed interest in strategic transactions.
The upstream business of integrated energy players is highly exposed to the volatility seen in oil prices. Also, the spike in input price in refining activities is making the outlook gloomy. Yet, these players seem set to conquer such challenges.
