Energy Sector's 8-Day Win Streak Ends But September Gains Hold

The energy sector's 8-day winning streak, its best since March 2022, came to an end on Thursday.
The streak was powered by rising oil prices, with WTI crude up 3.9% so far in September.
Even with Thursday's small drop, the energy sector is still up 2.5% for the month.
For the year, energy continues to lag, up just 3.3% vs the S&P 500's 16% gain.
Some analysts predict oil prices could rise another 6% by year-end, signaling more potential gains for energy stocks.

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8/29/2023

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The end of a five-month win streak for the S&P 500 is not all bad news, as historical data suggests that after five months of gains, the S&P 500's forward performances six and 12 months later are on average up 82% and 93% of the time, respectively.