This S&P 500 Sector Performs the Best When Crude Oil is Slumping

S&P Dow Jones Indices analyst says telecom suffers when oil rises

by Mark DeCambre
Market Watch

Oil enjoyed a multisession rally, pushing crude futures back into bull-market territory last week, but that has been bad news for one stock-market sector.

A seven-session win streak came to an end on Monday, but West Texas Intermediate crude trading on the New York Mercantile Exchange — the U.S. benchmark—was still up 20% from its Aug. 2 low.

Bullish stock-market traders are cheering, and rising energy prices might offer support to the shares of energy companies that have been hamstrung by plunging crude prices, but one sector among the S&P 500’s 10 isn’t eager to applaud the oil rally: telecom.

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