Another tough week for US stocks ended with shares of oil producers sliding and Ford Motor Co falling further on fears of supply shortages.
S&P 500 SPX
Inflation fell 1.7 percent from a one-week decline of 4.6 percent on Friday, as investors continued to fret over the Federal Reserve’s interest rate hikes leading to angry inflation.
All but 17 of the benchmark index components were down for the week. West Texas Intermediate crude oil for November delivery CL
The New York Mercantile Exchange fell nearly 6% to settle at $78.74 a barrel, down 7.1% for the week.
Read: The price of oil in the United States fell below 80 dollars per barrel and reached the lowest level since January
“The macro environment is really bad” for oil prices, according to Gabelli analyst Simon Wong. Wong said during the interview that the strong dollar made oil more expensive for other countries and was hurting demand for crude oil. As you can see below, the energy sector had the worst showing in a bad week.
Eight of the 20 stocks in the S&P 500 that fell the most for the week were in the energy sector.
| Company | Ticker | Industry | Price change – from one week until September 23 | Price change – September 23 | Price change – 2022 |
|
Caesar’s Entertainment Inc. |
CZR |
Casinos / gaming |
-21.5% |
-6.0% |
-62.2% |
|
A.P.A. |
what |
Blended oil |
-18.8% |
-11.4% |
22.2% |
|
Carnival Corp. |
CCL |
Hotels / Resorts / Cruiselines |
-16.8% |
-7.2% |
-55.5% |
|
SolarEdge Technologies Inc. |
SEDG |
Electrical products |
-16.7% |
-4.5% |
-7.8% |
|
Marathon Oil Corp |
MRO |
Oil and gas production |
-16.5% |
-10.9% |
33.4% |
|
Ford Motor Company |
F |
Motor vehicles |
-16.3% |
-3.6% |
-40.7% |
|
Iron Mountain Inc. |
IRM |
Real estate investment trust |
-15.7% |
-2.8% |
-10.9% |
|
Catalent Inc. |
CTLT |
Pharmaceutical: Major |
-15.4% |
-3.7% |
-40.6% |
|
Charter Communications Inc. Section A |
CHTR |
Cable/Satellite TV |
-14.8% |
-3.7% |
-50.7% |
|
Match Group Inc. |
MTCH |
Internet software / services |
-14.6% |
-2.6% |
-64.2% |
|
Hess Corp. |
HS |
Oil and gas production |
-14.0% |
-8.6% |
41.3% |
|
Live Nation Entertainment Inc. |
Lie |
Movies / Entertainment |
-13.9% |
-2.9% |
-37.1% |
|
Devon Energy Corporation |
DVN |
Blended oil |
-13.7% |
-8.6% |
31.0% |
|
Steris PLC |
STE |
Medical specialists |
-13.6% |
-5.4% |
-31.3% |
|
Ball Corp. |
Ball |
Containers / packaging |
-13.3% |
-0.2% |
-49.0% |
|
Diamondback Energy Inc. |
Fang |
Oil and gas production |
-13.1% |
-9.0% |
6.8% |
|
PENN ENTERTAINMENT INC. |
Penn |
Casinos / gaming |
-12.9% |
-0.5% |
-48.7% |
|
Halliburton Company |
HAL |
Oilfield services/equipment |
-12.8% |
-8.7% |
7.5% |
|
Pioneer Natural Resources Co. |
PXD |
Oil and gas production |
-12.7% |
-7.8% |
14.9% |
|
ONEOK Inc. |
great |
Oil and gas pipelines |
-12.4% |
-8.4% |
-10.2% |
|
Source: FactSet |
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Click on the indexes for more about each company, including news coverage, financials and charts. Then read Tommy Kilgore’s detailed guide to the wealth of information available for free on the MarketWatch quote pages.
Ford F
It fell another 3.6% on Friday, according to the Wall Street Journal. This follows Ford’s warning on Monday that it will end the third quarter with more unfinished vehicles than previously expected.
Read: Ford announces leadership changes as it accelerates ‘Ford+’ growth plan, strengthens supply chain operations
The energy slide, however, still leads to 2022.
The S&P 500’s energy sector fell sharply for the week but is still one of only two sectors to show gains for 2022.
| S&P 500 sector | Price change – one week | Price change – September 23 | Price change – 2022 |
|
Energy |
-9.0% |
-6.7% |
28.4% |
|
Consumer skills |
-7.0% |
-2.3% |
-28.6% |
|
real estate |
-6.4% |
-1.3% |
-27.6% |
|
Materials |
-5.7% |
-2.0% |
-24.3% |
|
Financial |
-5.6% |
-1.5% |
-20.5% |
|
Communication services |
-5.1% |
-1.8% |
-37.5% |
|
Industries |
-4.5% |
-1.9% |
-19.8% |
|
information technology |
-3.6% |
-1.4% |
-29.0% |
|
health care |
-3.4% |
-0.5% |
-12.9% |
|
Facilities |
-3.0% |
-1.2% |
0.3% |
|
Consumer Staples |
-2.1% |
-1.7% |
-9.9% |
|
S&P 500 |
-4.6% |
-1.7% |
-22.5% |
|
Source: FactSet |
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