Oil Jumps, and Carries Newfield Exploration Stock to the Top of the S&P 500
By Teresa Rivas
Updated Dec. 26, 2018 8:04 p.m. ET
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If gold was Wednesday’s biggest loser, black gold—or oil, as its better known—was its biggest winner, helping Newfield Exploration (NFX) shoot to the top of the S&P 500.
Newfield climbed $1.62, or 12.5%, to $14.54.
After a punishing few days, crude finally found its footing, with futures ending 8.7% higher, and notching their best day in two years. Newfield Exploration wasn’t the only energy related company on the upswing:Marathon Oil (MRO) was the second best performing stock, up 11.9%, and Hess (HES) was fourth, gaining 11%.
Oil, however, is still down 23% this year, which has caused Newfield to tumble 54% even after Wednesday’s gain.
Write to Teresa Rivas at teresa.rivas@barrons.com
https://www.barrons.com/articles/kitces-will-the-cfp-become-mandatory-51545946603
By Teresa Rivas
Updated Dec. 26, 2018 8:04 p.m. ET
Getty Images
Text size
If gold was Wednesday’s biggest loser, black gold—or oil, as its better known—was its biggest winner, helping Newfield Exploration (NFX) shoot to the top of the S&P 500.
Newfield climbed $1.62, or 12.5%, to $14.54.
After a punishing few days, crude finally found its footing, with futures ending 8.7% higher, and notching their best day in two years. Newfield Exploration wasn’t the only energy related company on the upswing:Marathon Oil (MRO) was the second best performing stock, up 11.9%, and Hess (HES) was fourth, gaining 11%.
Oil, however, is still down 23% this year, which has caused Newfield to tumble 54% even after Wednesday’s gain.
Write to Teresa Rivas at teresa.rivas@barrons.com
https://www.barrons.com/articles/kitces-will-the-cfp-become-mandatory-51545946603