The U.S. stock market opened sharply lower this morning, as traders turned their attention to developments overseas. Nonetheless, in the United States the major averages were able to pare their losses in the afternoon. In fact, at the end of trading, the Dow Jones Industrial Average was down 37 points; the S&P 500 Index was lower by three points; and the technology-heavy NASDAQ was off nine points. Most stocks encountered setbacks today, as decliners led advancers by a narrow margin on the NYSE.
There have been several noteworthy developments in the energy markets of late. For our purposes, we will highlighting key news items in the coal, renewable, and oil & gas sectors. Companies mentioned in this report include Halliburton (HAL), ConocoPhillips (COP), Schlumberger (SHL), Baker Hughes (BHI), Exxon (XOM), Williams Companies (WMB), Williams Partners (WPZ), Ensco plc (ESV), Rowan Companies PLC (RDC), Diamond Offshore (DO), Peabody Energy (BTU), Walter Energy (WLT), SunEdison (SUNE), and FirstSolar (FSLR), Yingli (YGE), Trina Solar (TSL).
Oil giant Exxon Mobil’s annual publication of its long-term view for energy supply and demand draws well thought out conclusions that investors should consider when constructing their portfolios.