The S&P 500 energy sector is down 12.3% for the quarter-to-date compared with a 3.7% gain for the S&P 500, which stands near record highs. Those worries have weighed on energy stocks, with companies like Exxon Mobil Corp and Chevron Corp down more than 13% for the quarter-to-date. Some investors, however, remain bullish on energy out of expectations that eventual declines in coronavirus case counts will buoy economic growth. The declines have also made some energy stocks much cheaper relative to their values earlier in the year. The sector also faces the prospect of tougher emission standards from the Biden administration and rising demand for electric vehicles, he added.

Source: MetroXpress September 10, 2021 19:30 UTC