Stock Futures – Energy stocks suffer broad weakness, even as crude and natural gas futures rise
The energy sector was taking a broad beating in afternoon trading Tuesday, to pace the S&P 500
sector decliners, even as crude oil and natural gas futures gained ground. The SPDR Energy Select Sector ETF
slumped 1.8% with 22 of 23 equity components losing ground, led by the 4.2% drop in APA Corp.’s stock
the 3.7% selloff in shares of Baker Hughes Co.
and the 2.6% decline in Occidental Petroleum Corp.
shares. Of the most active components, shares of Exxon Mobil Corp.
slid 2.4% and Marathon Oil Corp.
gave up 2.0%. The sector tracker’s lone non-loser was Devon Energy Corp.’s stock
which was little changed. The energy ETF has now lost 5.5% since closing a 15-month high on May 17. Meanwhile, crude oil futures
gained 0.1% and natural gas futures
rose 0.9%, while the S&P 500