trending Market Intelligence /marketintelligence/en/news-insights/trending/kw1a56yo6GO8R-vNjJS3fQ2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Friday's Energy Stocks: Wall Street falls sharply on potential recession signal

Essential Energy Insights - June 11, 2020

Webinar Replay

Deep Dive on Oil & Gas for Financial Institutions

Essential Energy Insights - May 28, 2020

Essential Energy Insights - May 14, 2020


Friday's Energy Stocks: Wall Street falls sharply on potential recession signal

Wall Street saw sharp declines Friday, March 22, after a portion of the U.S. yield curve inverted, reigniting worries that the end of the U.S. economic expansion may be looming.

Historically, an inversion of the two Treasurys has signaled a recession was on the way. Yields on 10-year Treasurys have declined following the Fed's March 20 decision to keep its benchmark interest rate unchanged.

The Dow Jones Industrial Average tumbled 1.77% to close at 25,502.32, while the S&P 500 shed 1.90% to settle at 2,800.71.

Among energy equities, electric and diversified utilities weathered the sector and broader market selloffs.

JinkoSolar Holding Co. Ltd. plummeted 12.60% on nearly 4x average trading volume to close at $17.14. The company reported 3,618 MW of solar module shipments in the fourth quarter of 2018, an increase of 45.8% from 2,481 MW in the fourth quarter of 2017.

Among other solar stocks, First Solar Inc. retreated 4.38% in above-average trading to finish at $52.41, Sunrun Inc. lost 5.63% on below-average volume to $14.25, and SunPower Corp. dropped 5.54% in brisk trading to end the week at $6.14.

U.S. Department of Energy Secretary Rick Perry confirmed that the Trump administration will provide an additional $3.7 billion in loan guarantees to help Southern Co. and its partners finish two new reactors at the Alvin W. Vogtle Nuclear Plant.

Southern shares climbed 0.60% in active trading to close at $51.88.

Algonquin Power & Utilities Corp. shares increased 0.80% on light volume to end at $11.28. The company said none of its outstanding 4 million cumulative rate reset preferred shares, series D, will be converted on April 1.

FirstEnergy Corp. was up 1.29% in light trading to settle at $41.77, after Moody's upgraded the senior unsecured and issuer ratings of two of its transmission subsidiaries, with stable outlooks.

The upgrade of American Transmission Systems Inc. and Mid-Atlantic Interstate Transmission was prompted by the rating agency's expectation that the companies will continue to produce strong financial metrics.

The S&P 500 Utilities Sector eked out a 0.69% gain to finish at 296.66.

Among oil and gas companies, Anadarko Petroleum Corp. declined 4.51% in robust trading to end at $43.23, after announcing plans to sign long-term charters for about 16 LNG vessels for its planned natural gas liquefaction facility in Mozambique.

Exxon Mobil Corp. slipped 1.60% to settle at $80.48, Chevron Corp. shed 2.20% to finish at $123.09, and Schlumberger Ltd. retreated 3.96% to close at $42.47, all on light volume.

The S&P 500 Energy Sector was down 2.62% to 484.86, while the Alerian MLP Index saw a 1.57% decrease to 255.20.

Market prices and index values are current as of the time of publication and are subject to change.