In afternoon trading on Monday, Energy stocks are the worst performing sector, showing a 1.2% loss. Within that group, Transocean Ltd (NYSE: RIG) and Southwestern Energy Company (NYSE: SWN) are two of the day’s laggards, showing a loss of 3.7% and 3.2%, respectively. Among energy ETFs, one ETF following the sector is the Energy Select Sector SPDR ETF (AMEX: XLE), which is down 1.1% on the day, and down 2.18% year-to-date. Transocean Ltd, meanwhile, is roughly flat on a year-to-date basis, and Southwestern Energy Company, is down 15.83% year-to-date. Combined, RIG and SWN make up approximately 0.8% of the underlying holdings of XLE.
Open the Whitehouse.gov website since President Donald Trump took over and the first item under top issues is his America First Energy Plan. While short on details, the new president’s blueprint is chock full of contradictions and outdated assertions about the status of America’s energy supply.