XLE - Energy Select Sector SPDR Fund
| Previous Close | 57.28 |
| Open | 57.02 |
| Bid | 56.46 x 28000 |
| Ask | 56.51 x 47300 |
| Day's Range | 56.18 - 57.28 |
| 52 Week Range | 55.55 - 68.81 |
| Volume | 20,273,757 |
| Avg. Volume | 13,818,485 |
| Net Assets | 10.91B |
| NAV | 57.26 |
| PE Ratio (TTM) | N/A |
| Yield | 6.72% |
| YTD Daily Total Return | -4.71% |
| Beta (5Y Monthly) | 1.38 |
| Expense Ratio (net) | 0.13% |
| Inception Date | 1998-12-16 |
- Yahoo Finance
Saudi Aramco Chairman Yasir Al-Rumayyan: 'We are confident in our investment story'
Yahoo Finance speaks exclusively with Aramco Chairman Yasir Al-Rumayyan about climate change and the future of the oil industry.
- Zacks
What Do Q4 Earnings Say About Oil Service ETFs?
Schlumberger and Halliburton have surpassed earnings estimates in Q4 and put these ETFs in focus.
- MarketWatch
Baker Hughes adjusted profit and revenue rise, but miss expectations
Baker Hughes Co. reported Wednesday fourth-quarter profit and revenue that rose less than expected, as beats in oilfield services and turbomachinery and process solutions revenue was offset by a miss in oilfield equipment. The stock was still inactive in premarket trading. Net income fell to $48 million, or 7 cents a share, from $131 million, or 28 cents a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share grew to 27 cents from 26 cents, but were below the FactSet consensus of 31 cents. Revenue increased 1% to $6.35 billion, missing the FactSet consensus of $6.48 billion. Orders increased 1% to $6.94 billion. Oilfield services revenue rose 7% to $3.29 billion, above the FactSet consensus of $3.28 billion; turbomachinery revenue fell 8% to $1.32 billion, below expectations of $1.82 billion; oilfield equipment revenue rose 5% to $765 million, beating expectations of $753 million. The stock has gained 0.4% over the past three months, while the SPDR Energy Select Sector ETF has slipped 1.3% and the S&P 500 has gained 10.8%.
- InvestorPlace
7 Energy ETFs to Buy for a Rebound in 2020
Compared to the broader market, energy stocks weren't the stocks to own last year. The Energy Select Sector SPDR (NYSEARCA:XLE) rose just 11.7%, including dividends paid, against a 31.2% gain for the S&P 500.Also consider that the energy sector saw its weight within the S&P 500 dwindle to its lowest levels since the 1980's. Dow component Exxon Mobil (NYSE:XOM) dropped out of the top 10 S&P 500 names for the first time on record. That stock and rival Chevron (NYSE:CVX) yield an average of 4.60%, making them two of the "dogs of the Dow" for 2020.Increased adoption and falling costs for renewable energy sources coupled with the the persistent skewering of fossil fuel producers by the virtuous investing crowd, including some institutional investors, made for a perfect storm of difficulty for traditional energy equities last year.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThere is some good news to consider with energy exchange-traded funds this year, including the sector's status as a value destination, improving free cash flow among larger producers and an ongoing need for oil throughout the world. * 7 Top-Rated Stocks to Buy for a More Powerful Portfolio For investors looking to bet on better things for the energy sector this year, here are some energy ETFs to consider. Energy ETFs to Buy: Fidelity MSCI Energy Index ETF (FENY)Expense Ratio: 0.084%, or $8.40 annually per $10,000 investedThe Fidelity MSCI Energy Index ETF (NYSEARCA:FENY) is a solid idea for investors willing to make a long-term commitment to traditional energy names because the fund is the least expensive energy ETF on the market and is heavily allocated to higher quality fare, such as Exxon and Chevron.Another reason to consider big-name energy stocks, particularly in basket form as offered by FENY, is that the group is becoming more committed to shareholder rewards, such as buybacks and dividends to support stagnant price appreciation."Energy stocks have been out of favor for the five-year period ending October 31, 2019. Energy has been the worst-performing of the 11 sectors in the S&P 500 during that time, with an annualized return of -4.95%, and the only sector with a negative return," said Fidelity in a recent note. "Meanwhile, the S&P 500 index is up 10.78% per year over the same period. As a result, more energy companies have shifted attention from production to profitability and shareholder-friendly efforts, even amid historically low crude oil prices." Alerian Energy Infrastructure ETF (ENFR)Expense Ratio: 0.65%One part of the energy patch that's showing some strength early this year is the midstream. The Alerian Energy Infrastructure ETF (NYSEARCA:ENFR) is higher by 2.5% and is proving to be a more reliable bet than more traditional energy ETFs. That comes after midstream equities were the top performers in the energy sector in 2019.ENFR follows the Alerian Midstream Energy Select Index, one of the most widely followed midstream benchmarks. The midstream dedication is relevant at a time when those companies are working to reduce debt and burdensome incentive distribution rights (IDRs). * 7 Earnings Reports to Watch Next Week "Our long-term outlook for midstream oil and gas companies is unchanged, but we could change our fair value estimates depending on whether new and material investment projects are sanctioned in response," said Morningstar in a recent note. "We think midstream companies that could benefit from higher demand for export infrastructure and related pipelines, wider differentials, and higher demand for liquefied natural gas, given oil-linked contracts." VanEck Vectors Energy Income ETF (EINC)Expense Ratio: 0.45%The VanEck Vectors Energy Income ETF (NYSEARCA:EINC) is impressing on two fronts to start the new year. First, its 9.40% dividend is a whopper, even among energy ETFs designed to be income plays. Second, and more importantly, the fund is up 3% this month.EINC targets the MVIS North America Energy Infrastructure Index, "which is intended to track the overall performance of North American companies involved in the midstream energy segment, which includes MLPs, and corporations involved in oil and gas storage and transportation," according to VanEck.Although they're not integrated energy firms or energy and production companies, EINC components are levered to the growing U.S. energy export story."This significant growth in North American oil and gas production has increased the need for supporting infrastructure, including new pipelines connecting producing regions with demand centers and the coast for export," said VanEck in a recent note. "A 2018 study by the Interstate Natural Gas Association of America estimated that an investment of $521 billion in midstream energy infrastructure is needed in the U.S. and Canada by 2035." iShares Global Energy ETF (IXC)Expense Ratio: 0.46%The iShares Global Energy ETF (NYSEARCA:IXC) combines domestic oil giants, such as Exxon and Chevron, with international equivalents, including BP Plc (NYSE:BP), Royal Dutch Shell (NYSE:RDS.A) and France's Total (NYSE:TOT).Not only does that give the fund some geographic diversity, it offers investors deeper value and higher dividends, two traits applicable to European oil majors. IXC's ex-U.S. components offer some other benefits. * 10 Stocks to Buy as the 2020 Presidential Election Approaches "One of their big draws: Many non-US energy companies tend to have higher exposure to high-growth prospect drilling regions such as the Middle East, Asia Pacific and Africa than their stateside brethren -- not to mention that some are generous dividend payers, too," reports OilPrice.com. FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR)Expense Ratio: 0.46%The FlexShares Morningstar Global Upstream Natural Resources Index Fund (NYSEARCA:GUNR) can augment midstream energy ETFs because this fund focuses on the upstream segment. However, GUNR isn't a dedicated energy ETF. It also features exposure to materials and mining names, giving investors broader exposure to equities that can benefit from favorable commodities cycles.GUNR reflects the value propositions offered by the energy and materials sectors as more than 44% of the fund's holdings are classified as value stocks, more than triple its weight to equities with the growth designation. Another perk: GUNR devotes almost two-thirds of its roster to ex-U.S. stocks, giving it a yield of 3.22%, well in excess of the S&P 500.Overall, GUNR is a compelling option for investors seeking a broad approach to real assets."[I]nvestors continue to benefit from innovation within a variety of investment vehicles that focus on real assets," notes FlexShares. "Furthermore, strong demand for real assets is being met with an unprecedented supply of opportunities for investment, and we believe trends indicate that it will continue to grow. The Real Assets classification (e.g., timber, water, infrastructure, natural resources, etc.) is continually evolving, influenced not only by new asset types, but also regulatory and issuance changes." VanEck Vectors Oil Services ETF (OIH)Expense Ratio: 0.35%The VanEck Vectors Oil Services ETF (NYSEARCA:OIH) is an energy ETF for risk tolerant investors because oil services stocks are usually intimately correlated to crude prices. Translation: OIH is a great place to be if oil prices are rising, but if crude prices are falling, this fund can sting its owners.An issue facing oil services providers this year is lower spending forecasts by integrated oil companies and exploration and production firms in the face of low crude prices. A recent IHS Markit poll indicates global investors are comfortable betting on a "cyclical" rebound for energy stocks, a theme that if valid, should matriculate to oil services equities. * 10 Cheap Stocks to Buy Under $10 "Still, 67% of respondents believe that there is potential for the industry to experience a cyclical reversion in the stock market and come back into favor with equity investors," according to the research firm. "They believe that a rotation back into the energy sector is contingent on the supply-demand balance, conservative capital strategies and an improving outlook for the global macro and trade tensions." Global X MLP ETF (MLPA)Expense Ratio: 0.45%The Global X MLP ETF (NYSEARCA:MLPA) is another option for investors looking to access the midstream, a compelling and undervalued area of the energy patch."Midstream is one of the most undervalued asset classes across the equity universe. And the strength of the cash flows and dividend coverage makes for a more positive asset class outlook in 2020," according to Global X research.Importantly, dividends in the midstream space have more than adequate coverage, a positive for investors looking to tap MLPA for added income."Dividend coverage ratios for the asset class are cushioned by 30% on average and price-to-cash flow valuations are trading at early-2016 levels of 5x when oil prices were hitting rock bottom," said Global X.As of this writing, Todd Shriber did not own any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Monthly Dividend Stocks to Buy to Pay the Bills * 7 Earnings Reports to Watch Next Week * 7 5G Stocks to Connect Your Portfolio To The post 7 Energy ETFs to Buy for a Rebound in 2020 appeared first on InvestorPlace.
- MarketWatch
McDermott announces a prepackaged bankruptcy, stock plunges
Shares of McDermott International Inc. tumbled 15% in premarket trading Tuesday, after the provider of engineering and construction services to the energy industry announced a prepackaged bankruptcy as part of a restructuring that eliminates $4.6 billion of debt. The company said the bankruptcy will be financed by a debtor-in-possession (DIP) financing facility of $2.81 billion, and that it has secured over $2.4 billion in letter-of-credit facility capacity. The company said it expects to emerge from bankruptcy with about $500 million in funded debt. As part of the DIP agreement, McDermott will sell its Lummus Technology business for $2.73 billion, with the proceeds from the sale expected to be used to repay the DIP financing in full. McDermott expects its stock to be delisted from the NYSE within the next 10 days. The stock is proposed to be cancelled as part of restructuring. McDermott's stock had plummeted at the end of 2019, with The Wall Street Journal reporting that McDermott had been in talks with its lenders for a bankruptcy filing within weeks. McDermott shares have lost 92.2% of their value over the past 12 months through Friday, while the SPDR Energy Select Sector ETF has declined 7.4% and the S&P 500 has gained 24.7%.
- Zacks
Energy ETFs Set to Soar as Oil Price Rises
Oil price jumped following political instability in the Middle East and North Africa that halted output and exports from key OPEC producers.
- Zacks
Can Energy ETFs Rebound as China Promises Ramped-up Purchases?
As China promises to increase purchases of oil and gas from the United States under the phase-one trade deal, we highlight some ETFs that can gain.
- MarketWatch
Saudi Aramco valuation set at $2 trillion at J.P. Morgan
J.P. Morgan initiated coverage of Saudi Arabian Oil Co. , known widely as Saudia Aramco, with an overweight rating and a price target of 37.00 Saudi riyals per share, which is 6.6% above current levels and suggests a fair value for the oil giant of $2 trillion. That valuation compares with the S&P 500's largest U.S. energy company by market capitalization, Exxon Mobil Corp. , at $292.8 billion. Analyst Christyan Malek said key drivers for Aramco include an "increased appetite" from the Kingdom of Saudia Arabia to regain market share of global oil demand, in the context of a tightening of oil market deficit, and a rising call from captive refining commitments. "Aramco effectively offers minority shareholders 'bond with equity upside' type properties," Malek wrote in a note to clients. "Premium barrels, capex flexibility, captive crude demand through vertical integration into the eastern hemisphere (where we expect most marginal LT growth to emerge) and low gearing enable Aramco to commit to distributing a structurally higher percentage of cashflow through the cycle." The stock,which went public on Dec. 12, has declined 5.7% since then, while the SPDR Energy Select Sector ETF has slipped 1.5% and the S&P 500 has gained 3.6%.
- Zacks
Sector ETFs to Watch Out for Until Phase-2 Trade Deal
The movements in these sector ETFs should be watched closely as the phase-1 trade deal is being signed and there is no tariff relief for a huge chunk of goods until phase-2.
- MarketWatch
Chesapeake's stock sinks to extend losing streak as crude oil prices keep falling
Shares of Chesapeake Energy Corp. sank 5.2% in active afternoon trading Monday, putting them on track for a 4th-straight loss, as crude oil futures continued to sell off amid the perception of reduced tensions in the Middle East. Chesapeake's stock, which was the second-most active on NYSE with 36.8 million shares traded, has tumbled 23% during its losing streak, and is headed for the lowest close since Dec. 3. Continuous crude oil futures shed 1.1%, and have dropped 7.7% amid a 5-day losing streak. Chesapeake's stock has lost 50.2% over the past three months, while the SPDR Energy Select Sector ETF has gained 3.0% and the S&P 500 has climbed 10.5%.
- Barrons.com
For Dividend Growth, Consider Health-Care and Tech Stocks
Traditional dividend havens such as utilities and real estate investment trusts are expected to continue that role, with yields in the 3% range this year. Those looking for more robust dividend growth should consider sectors such as health care and technology.
- MarketWatch
Energy ETF on track for worst day in about four months as Trump backs away from Mideast clash
Exchange-traded funds with energy holdings fell sharply Wednesday midday as the oil price sank along with investor concerns about a protracted conflict in the Middle East. The SPDR S&P Oil & Gas Exploration & Production ETF had lost 3.4% by late morning, while the Energy Select Sector SPDR Fund was down 1.6%, as crude oil slumped nearly 4%. It was the biggest one-day decline for XOP since Sept. 17, when it lost 5.3%, according to FactSet. The two ETFs take different approaches to tracking energy stocks: XLE is more exposed to larger oil and gas companies, with 22.3% of its holdings in Exxon Mobil Corp. and nearly 20% in Chevron Corp. . In contrast, XOP invests equally in about 60 securities representative of the broader exploration and production industry, raning from Apache Corp. , which at 3.3% is its biggest holding, to WPX Energy Inc. .
- Yahoo Finance
Trade of the Decade: Why one expert thinks it's time to get into energy stocks
Energy stocks have lagged the broader market for the past year and past decade -- but they could be the trade of the 2020s, according to David Mazza of Direxion.
- MarketWatch
Apache's stock rockets toward best day in nearly 50 years after oil discovery, BofA upgrade
Shares of Apache Corp. rocketed 26% on heavy volume Tuesday, putting them on track for the biggest one-day gain since 1973, after the oil and gas exploration company announced a "significant oil discovery" off the shore of Suriname in South America. The rally was enough to pace all the stocks in the S&P 500 that were gaining ground. Trading volume swelled to 20.4 million share, nearly triple the full-day average. Apache said the discovery was at the Maka Central-1 well drilled offshore Suriname on Block 58, which was drilled using the drillship Noble Sam Croft with both Apache and Total S.A. holding 50% working interests. BofA Merrill Lynch analyst Doug Leggate followed by upgraded Apache to buy from neutral and raising the stock price target to $36 from $28, saying the discovery is a "potential game changer" for the investment case for Apache. The stock, which is heading toward its best one-day performance since it rose 30.8% on Sept. 25, 1973, has now gained 10.6% over the past 12 months, while the SPDR Energy Select Sector ETF has slipped 0.9% and the S&P 500 has gained 27.1%.
- Barrons.com
Is the Fed Building Another Stock Bubble?
The central bank’s liquidity stoking looks a lot like what helped inflate the dot-com bubble 21 years ago.
- Kiplinger
5 Energy ETFs to Buy for Higher Oil Prices
Energy stocks and exchange-traded funds (ETFs) were a miserable bet in 2019. Indeed, the energy sector was the worst-performing sector by a mile, gaining less than 5% - far below the S&P; 500's 29% return, and significantly lagging even the second worst sector, health care (18%).However, despite tepid analyst outlooks for oil and gas prices in 2020, energy ETFs and individual stocks are suddenly being thrust in the spotlight once more.On Jan. 2, the Pentagon confirmed that the U.S. military killed Qasem Soleimani - a top Iranian general who headed the Islamic Revolutionary Guard Corps' elite Quds Force - with a drone airstrike in Iraq. While the Pentagon said the attack was meant to deter "future Iranian attack plans," Iran nonetheless has vowed "severe revenge." The clear, abrupt escalation in Middle East tensions immediately sent oil prices higher in response.Whether oil continues to climb is unclear. Tensions could de-escalate. Also, American fracking has changed the playing field. "The major potential risk - to oil markets - is mitigated by the fact that the U.S. is now the largest producer of oil and essentially approaching Energy independence," says Brad McMillan, Chief Investment Officer for Commonwealth Financial Network. "Our oil supplies are much less vulnerable than they were, and the availability of oil exports from the U.S. means that other countries have an alternative source." However, if the conflict worsens - especially if oil tankers and infrastructure are targeted in any violence - oil might continue to spike, regardless.Here, we explore five energy ETFs to buy to take advantage of higher oil prices. But approach them with caution. Just like increases in crude-oil prices should benefit each of these funds in one way or another, declines in oil have weighed on them in the past, and likely would again. SEE ALSO: The 20 Best ETFs to Buy for a Prosperous 2020
- MarketWatch
Here’s a look at the biggest movers among U.S. oil stocks after Iran’s Soleimani is killed
MARKET EXTRA Oil stocks were in the spotlight on Friday after a targeted military strike killed Iranian General Qassem Soleimani, considered the architect of the Islamic Republic’s military expansion in the Middle East.
- MarketWatch
Dow tumbles more than 300 points at open after U.S. kills Iranian military leader
U.S. stock indexes on Friday fell sharply at the open, retreating from their record closes set the previous session, after a U.S. airstrike in Baghdad killed a top Iranian military commander and stoked fears of an escalating conflict in the Middle East. The Dow Jones Industrial Average fell sharply at the open, on the verge of putting in its worst day since early October until paring those losses quickly. The Dow was down 200 points, or 0.7%, at 28,659, but had hit a low of 28,500.36. The S&P 500 index retreated 0.8% at 3,233, while the Nasdaq Composite Index was down 0.8% at 9,016. The Pentagon confirmed late Thursday that the U.S. military had killed Qassem Soleimani, the head of Iran's Islamic Revolutionary Guard's Quds Force, and said the strike was aimed at deterring future Iranian attacks, with investors fearing that that act may spark more intense conflicts in the Middle East.
- InvestorPlace
Chesapeake Energy Fighting Off Bankruptcy Doesn’t Make It a Buy
Yes, 2019 was a rough year for the energy sector. The group saw its weight dwindle in the S&P 500 en route to finishing the year as the worst-performing group in the benchmark. Still, thanks to a late-year rally, the Energy Select Sector SPDR (NYSEARCA:XLE) was able to finish the year higher.Source: Casimiro PT / Shutterstock.com However, things were much, much worse for natural gas shale producers. Consider the following. The First Trust Natural Gas ETF (NYSEARCA:FCG), an exchange-traded fund that frequently has dog status, lost almost 20% last year, but look good compared to the 60% shed by Chesapeake Energy (NYSE:CHK).Losing 60% in a year in which the S&P 500 posted its best annual showing in more than two decades alone is disturbing. Even more alarming is that Chesapeake finished the year down by that much even with the benefit of a 38.7% December rally.InvestorPlace - Stock Market News, Stock Advice & Trading TipsMuch of the December bullishness was accrued early in the month after Oklahoma-based Chesapeake was able to procure $1.5 billion in financing from a consortium of banks, helping it stave off bankruptcy. Still, some analysts believe that's no more than a temporary fix and that the capital isn't a silver bullet for Chesapeake's deep financial woes. Awash in WoesIn July 2015, the company slashed its quarterly dividend. Six months later, the company suspended the payout on its preferred shares, contributing to its lower credit ratings. Remember, preferred stocks have bond-like properties and are higher up in the pecking order than common stock in the event of bankruptcy. * 7 Stocks to Buy for January and Beyond In other words, it's bad when a company cuts or suspends its dividend on its common equity, but it's much worse when negative payout action comes to preferred stocks. When it revealed that 2015 dividend cut, Chesapeake traded close to $20.Chesapeake had a $1.7 billion market capitalization as of Jan. 2. However, its debt burden is in excess of $9 billion, or about six times its market value. Additionally, the company is grappling with annual interest expenses of $700 million. That's almost half its market cap.So it's not surprising that Moody's Investors Service recently lowered a variety of ratings on Chesapeake. What may be surprising is that the shale producer clings to ratings in "B" territory and hasn't dropped to the highly speculative "CCC" range.Keep in mind that the company recently engineered a debt swap with bondholders. Those investors received around 57 cents on the dollar for their investments. One need not be a fixed income expert to realize that financially sound companies don't engage in those type of maneuvers. Bottom Line: Chesapeake Is Cheap for a ReasonI'm fond of highlighting the potential peril of stocks with low price tags. Even though Chesapeake can offer some near-term upside, the long-term prognosis here is bleak.With the U.S. awash in oil and natural gas, Chesapeake likely needs something along the lines of oil prices at $60 per barrel and gas at $2.75 per million British thermal units. The former is doable, but Henry Hub gas closed at $2.18 on Dec. 31.Further vexing Chesapeake is that with natural gas prices low, assets are unattractive to larger oil companies. Many of those big names already enjoy robust gas footprints, so asset sales to raise capital probably aren't in the cards for Chesapeake over the near term.There are other points for investors to be aware of. Namely that all of the traditional valuation metrics on Chesapeake are low, implying value. However, the stock's performance coupled with the controversy surrounding the company likely means it's more of a value trap.As of this writing, Todd Shriber did not own any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Stocks to Buy for January and Beyond * 7 Excellent Value Stocks to Buy for 2020 * 5 Hot Housing Stocks That Could Stay Hot in 2020 The post Chesapeake Energy Fighting Off Bankruptcy Doesn't Make It a Buy appeared first on InvestorPlace.
- MarketWatch
Energy stocks surge, as crude oil prices spike on Middle East tensions
Shares of energy company's were broadly higher in premarket trading Friday, as crude oil prices soared in reaction to the U.S. airstrike that killed an Iraqi militia's deputy commander. The SPDR Energy Select Sector ETF climbed 1.4% in premarket trading, with 26 of 28 equity components trading higher. Among the ETF's more active components, shares of Noble Energy Inc. rose 0.8%, Exxon Mobil Corp. gained 1.4%, Occidental Petroleum Corp. hiked up 3.0%, Schlumberger Ltd. advanced 1.8%, Halliburton Co. rose 1.9%, Marathon Oil Corp. rallied 3.4% and Chevron Corp. tacked on 1.2%. Although not an ETF components, Chesapeake Energy Corp.'s stock shot up 5.8% in active trading. The rally bucked the reaction in the broader stock market, as S&P 500 futures sank 1.2%. Meanwhile, crude oil futures shot up 3.9%, and the intraday high of $64.09 was the highest price seen since April 30.
- Yahoo Finance Video
Market Recap: Friday, January 17
All three major indexes closed at record highs on Friday, led by a week of strong economic data and corporate earning results. The Final Round panel discusses the markets at the closing bell.
- Yahoo Finance Video
Oil prices won't stay constant for long, says Dan Dicker
Oil shares popped on Wednesday after President Donald Trump finalized the first stage of a trade deal with China. However, a new report from the International Energy Agency warns that oil production from PEC countries is still expected to outstrip supply. Dan Dicker, founder of The Energy Word, joins The Final Round to discuss what investors should expect from the oil industry in 2020.
- Yahoo Finance Video
Cyclical sectors should keep the economy the going: expert
Stifel Head of Institutional Equity Strategy Barry Bannister joins the On The Move panel to discuss the best cyclical sectors to invest in as the federal reserve continues to hold on rate cuts.
- Yahoo Finance Video
Market Recap: Wednesday, January 8
Despite heightened geopolitical tension between the United States and Iran, domestic markets closed higher on Wednesday, with both the S&P 500 and the Nasdaq hitting record highs.
