Energy Stocks Got a Boost Monday Written By: Miranda Marquit 2008-10-20 13:40:21 Right now, as the stock market rally eases a bit in terms of the financial sector, the energy sector is holding gains. A measure of confidence is returning, thanks to remarks from Ben Bernanke regarding his dedication to stimulate the economy. Also helping the energy sector is the expectation that OPEC will soon be cutting production. This means that supply will decline along with demand, and that oil prices are expected to even out a bit. As a result, Big Oil companies are getting a little boost. ExxonMobil (XOM) and Chevron (CVX) posted the top price earnings out the gate Monday morning on combined confidence and OPEC news.
One of the trends in ethical and environmental investing right now includes alternative energy ETF investing. Not too long ago, I wrote about ETFs with regard to the PowerShares WilderHill Clean Energy ETF (PBW). ETFs allow you to buy and sell funds on the stock market, much as you do stocks. One of the newer offerings in terms of alternative energy ETFs is the Market Vectors Global Alternative Energy ETF (GEX).
