Pursuits
Energy ETF Flows Swell With Risk Embraced in Sideways S&P 500
- SPDR Energy ETF has absorbed almost $1 billion in August
- S&P 500 slips as Apple, Hershey shares pace declines
Globally Connected Markets Ignore Fed Rate Hike Talk
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The August rally in crude oil has investors piling into energy companies at the fastest pace in 16 months as they hunt for winning bets in a stock market that’s been drifting sideways.
Oil has surged into a bull market in the past three weeks after falling to a four-month low. That’s attracted cash to the SPDR Energy Select Sector ETF, which is on pace to absorb almost $1 billion in August, the most for any month since April 2015. While the S&P 500 Index is little changed for the month, energy shares have climbed 2 percent. The group slipped Tuesday as the broader index fell 0.2 percent to 2,176.12 at 4 p.m. in New York.