The market made another gap lower pre-market Friday on the back of yet another hot inflation report. All three of the major indexes dropped by more than 1%, quashing any hopes that the bull rally would continue. The core personal consumption expenditures price index rose .6% in January and 4.7% from the prior year, and more than some economists predicted. This means there are two sectors in particular that I’m going to watch.
SPDR S&P Oil & Gas Exploration & Production ETF (XOP)
The first would be to look at energy names like the XOP. This ETF had itself a 3% day yesterday and with the market falling, I am looking for the energy sector to rise, or at the very least, remain steady for a possible long play in the future.
The individual names from this sector ETF would be companies, such as Exxon Mobil (XOM), Marathon Petroleum (MPC), and Valero Energy (VLO). These names see good liquidity for individual stocks in this sector, so they are stocks I like to…
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