SPY Slumps 1.5% as Oil Prices Plummet after Rate Hike
(Continued from Prior Part)
Top SPY stocks
The stocks at the top of the SPDR S&P 500 ETF (SPY) in yesterday’s trade were Consol Energy (CNX), Marathon Petroleum Corporation (MPC), and Ameren Corporation (AEE). These stocks rose 3.5%, 3.3%, and 2.4%, respectively. Consol Energy (CNX) is the only stock from the energy sector that is into coal and consumable fuels. The stock was upgraded from a “hold” rating to a “sell” rating by the analysts at Deutsche Bank (DB).
The graph above compares the performances of Consol Energy (CNX) and the Energy Select Sector SPDR Fund (XLE) since October 2015.
Technical snapshot of Consol Energy
• Consol Energy (CNX) is a volatile stock with a beta value of 1.3.
• The trailing-one-year return of CNX is -80.5%.
• The stock closed yesterday’s trading session at $6.90, which was quite lower than its moving averages. Its 100-day, 50-day, and 20-day moving averages are $11, $8, and $7, respectively. This suggests a falling trend for CNX.
• Analysts’ stock price target for CNX is $13.47, implying growth potential of 95%.
• The stock has earned 10 “buy,” one “sell,” and 12 “hold” recommendations. Standard & Poor’s has given the stock a BB rating with a “stable” outlook.
Bottom stocks
Stocks at the bottom of SPY in yesterday’s trade were Genworth Financial (GNW), Freeport-McMoRan (FCX), and Williams Companies (WMB). These stocks fell 8.8%, 8.5%, and 8.2%, respectively. Genworth Financial (GNW) was one of the stocks that rose on Wednesday, December 16, but experienced a sell-off yesterday as investors consolidated their gains.
Freeport-McMoRan (FCX) and Williams Companies (WMB) were hit by the plunge in metal and oil prices, respectively.
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