U.S. Markets close in 1 hr 24 mins
  • S&P 500

    4,685.23
    +93.56 (+2.04%)
     
  • Dow 30

    35,727.51
    +500.48 (+1.42%)
     
  • Nasdaq

    15,682.37
    +457.22 (+3.00%)
     
  • Russell 2000

    2,269.31
    +65.83 (+2.99%)
     
  • Crude Oil

    72.10
    +2.61 (+3.76%)
     
  • Gold

    1,785.60
    +6.10 (+0.34%)
     
  • Silver

    22.56
    +0.29 (+1.31%)
     
  • EUR/USD

    1.1261
    -0.0025 (-0.2252%)
     
  • 10-Yr Bond

    1.4680
    +0.0340 (+2.37%)
     
  • Vix

    21.87
    -5.31 (-19.54%)
     
  • GBP/USD

    1.3238
    -0.0022 (-0.1681%)
     
  • USD/JPY

    113.5710
    +0.0810 (+0.0714%)
     
  • BTC-USD

    51,154.60
    +1,848.15 (+3.75%)
     
  • CMC Crypto 200

    1,318.08
    -3.20 (-0.24%)
     
  • FTSE 100

    7,339.90
    +107.62 (+1.49%)
     
  • Nikkei 225

    28,455.60
    +528.23 (+1.89%)
     

Why These 10 Stocks Are Surging on Monday

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·3 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

In this article we will take a look at the some of notable stocks surging today. You can skip our detailed analysis of these stocks and go to read Why These 5 Stocks Are Surging on Monday.

All three major indexes are lower this morning as negotiations continue in Washington over the debt ceiling. The Dow Jones is down 1%, the S&P 500 is down 1.3% and the NASDAQ has fallen 2.1%.

Among the stocks surging today include EOG Resources, Inc. (NYSE:EOG), Pioneer Natural Resources Company (NYSE:PXD), Tesla, Inc. (NASDAQ:TSLA), Exxon Mobil Corporation (NYSE:XOM), Chevron Corporation (NYSE:CVX), Devon Energy Corporation (NYSE:DVN), and Halliburton Company (NYSE:HAL). Let's analyze why each stock is surging and how elite funds are positioned among them.

Why do we care about hedge fund activity? Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 86 percentage points since March 2017. Between March 2017 and July 2021 our monthly newsletter’s stock picks returned 186.1%, vs. 100.1% for the SPY. Our stock picks outperformed the market by 86 percentage points (see the details here). That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.

10 best online brokers for non US residents
10 best online brokers for non US residents

Image: Depositphotos

10. Tesla, Inc. (NASDAQ:TSLA) is up 2% after the company announced it delivered 241,300 vehicles in the third quarter. Despite the chip shortage, Tesla, Inc. (NASDAQ:TSLA) beat estimates of around 220,900 vehicles for the same time period. Tesla, Inc. (NASDAQ:TSLA) is up 8% year to date so far. Billionaire Elon Musk owns substantial shares in Tesla, Inc. (NASDAQ:TSLA).

9. Exxon Mobil Corporation (NYSE:XOM) is up 1% due to oil prices rising. In morning trade, WTI crude oil futures are up more than 2.8% and Brent futures are up more than 3.1%. Natural gas futures are up 4.1%. Oil prices are likely higher due to Monday's OPEC+ meeting. Exxon Mobil Corporation (NYSE:XOM) shares are up almost 50% year to date. Of the around 873 elite funds in our database, 68 were long Exxon Mobil Corporation (NYSE:XOM) at the end of Q2.

8. Chevron Corporation (NYSE:CVX) shares are also up 0.9% due to oil prices rising today. Oil prices are near multi year highs due to demand rising and supply struggling to keep up. Chevron Corporation (NYSE:CVX) is generally more profitable if oil prices are higher. 50 elite funds we track owned shares in Chevron Corporation (NYSE:CVX) at the end of June.

7. Devon Energy Corporation (NYSE:DVN) has surged more than 6.4% due to WTI futures rising. With today's rise, WTI is near $78 per barrel, which makes it easier for many shale companies in the U.S. to be more profitable than if WTI prices were lower. Devon Energy Corporation (NYSE:DVN) shares have rallied 142% year to date. 50 elite funds in our database were long shares of Devon Energy Corporation (NYSE:DVN) at the end of Q2.

6. Halliburton Company (NYSE:HAL) has surged more than 4.1% today also due to today's oil price surge. If oil prices are higher, demand for oil service companies like Halliburton Company (NYSE:HAL) could also benefit. Ken Fisher's Fisher Asset management owned more than 4.17 million shares of Halliburton Company (NYSE:HAL) at the end of June.

Like Tesla, Inc. (NASDAQ:TSLA), Exxon Mobil Corporation (NYSE:XOM), Chevron Corporation (NYSE:CVX), Devon Energy Corporation (NYSE:DVN), and Halliburton Company (NYSE:HAL), EOG Resources, Inc. (NYSE:EOG) and Pioneer Natural Resources Company (NYSE:PXD) also surged on Monday.

Click to continue reading and see Why These 5 Stocks Are Surging on Monday.

Suggested articles

10 Best Stocks to Buy According to Warren Buffett

10 Stocks that Helped Warren Buffett Make $4.6 Billion in Dividends

Warren Buffett’s Most Profitable Investments of All Time

Disclosure: None. Why These 10 Stocks Are Surging on Monday is originally published on Insider Monkey.