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Energy ETF set for best one-day gain in 3 weeks as crude climbs

A prominent fund used to bet on the energy sector on Monday was
on pace to post its best daily climb since early June,
according to FactSet data. The energy-focused Energy Select
Sector SPDR ETF was up 2.2%, setting the ETF up for its
sharpest one-day rise since a 2.4% gain on June 9. Gains in the
ETF were being led by a 6% rally in shares of Transocean Ltd.

RIG, +5.83%

and a more than 5% climb in Baker Hughes Inc.


On the day, the energy sector was the best
performer among the S&P 500’s


11 sectors, with financials


also helping to buoy U.S. equity benchmarks. August
West Texas Intermediate crude


rose sharply above $46 a barrel on the New York
Mercantile Exchange, jolted energy stocks higher in a
holiday-shortened trading session. The S&P 500 was up 0.3%,
while the Dow Jones Industrial Average


was up 0.8%, after briefly touching an intraday
record of 21,562.75. The Nasdaq Composite Index


lagged behind the benchmarks, down 0.5%, as the
technology sector


extended a bout of weakness amid concerns about
tech-share valuations.

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