⚡️ XOM and CVX Show Negative Returns | Energy Sector Insights
The Energy Select Sector SPDR Fund experienced notable movements in its holdings, with key contributors like XOM and CVX showing negative returns.
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Tuesday, June 11
XLE [-0.6%] The Energy Select Sector SPDR Fund experienced notable movements in its holdings, with key contributors like XOM and CVX showing negative returns. VLO faced operational issues at its Port Arthur refinery, impacting production efficiency. Additionally, pivot points suggest a bullish sentiment if price breaks above $91.55 or bearish below $90.33 based on the DeMark method calculation provided in news summaries. There is also a correlation between the ETF's decrease and that of the Dow Jones Index (US), both down recently with moderate positive correlation suggesting synchronized price action due to broader market trends affecting energy sector funds and major US indices simultaneously.