Japan will release its second quarter GDP estimates on Tuesday and inflation figures on Friday.
Crude oil extends rally to 7th week for first time since June, 2022consecutive week for the first time since June 2022, while October Brent — the international benchmark — also rose for a 7th straight week.September gasoline added 6.5% this week, the most in a week since early March, and rising for a 4th week in five.
The S&P 500 Energy Index turned in the best performance of the 11 main sectors in the S&P 500, rising 3.5% this week versus the S&P 500 Health-Care Index's 2.5% gain and the S&P 500's 0.3% loss.Fri, Aug 11 2023Energy stocks are suddenly leading the market on the day, this week, this month and this quarteron Friday, this week, this month and this quarter is — energy stocks. The group is outperforming both technology and the broader S&P 500 since June 30.
The S&P 500 Energy Index was recently ahead 1.4% on Friday, 3.4% for the week, 2.5% in August and 9.9% since the start of the third quarter.is performing still better, rising about 1.6% Friday, 3.4% for the week, 2.7% in August and 10.7% in the third quarter-to-date., which is higher by 1.4% on Friday, up 2% week-to-date, 1.4% in August, but 21.2% higher in the third quarter.
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