Energy-related exchange-traded funds outperformed Thursday, being one of the only sectors to trade higher on a down day in financial markets. The Energy Select Sector SPDR Fund XLE,
gained 1.8% at the start of the afternoon, as did the Vanguard Energy ETF VDE,
The iShares US Oil & Gas Exploration & Production IEO ETF,
jumped 2.2%. The price of CL.1 oil,
jumped nearly 5%, topping $ 64 a barrel, after the Organization of the Petroleum Exporting Countries and its allies pledged to continue current production cuts until April, according to reports. The Sector SPDR energy fund is up more than 33% since the start of the year, even though most of the SPX stock indexes,
have seen their earnings run out of steam in recent weeks.
Getty Images AFP via Getty Images The US stock market is one step away from a chain of events that...Read more