Although the S&P 500 is trading at a record high energy stocks are not part of the rally. In fact energy stocks are heading lower as oil prices skid according to The Wall Street Journal.
U.S. stocks edged higher Monday, but energy shares dropped as the price of oil fell back toward $40 a barrel.
Energy stocks in the S&P 500 fell 2.7% and U.S. crude oil lost 3.3% to $40.25 a barrel. A glut of fuels and growing global production has weighed on crude prices recently.
How low will energy stocks go? So long as production remains high and demand off of […]