Stocks Analysis by Ismael De La Cruz covering: S&P 500, NVIDIA Corporation, Occidental Petroleum Corporation, The Industrial Select Sector SPDR® Fund. Read Ismael De La Cruz's latest article on Investing.com
The S&P 500 has surged in the first half of 2024, fueled by strong earnings and a potential Fed rate cut.Meanwhile, Warren Buffett has doubled down on Occidental Petroleum, while marijuana stocks remain sluggish.is off to a blistering start in 2024, notching the best first half of an election year in history. It has surged 13.9% in the first 114 trading days, surpassing the previous record of 13.5% set in 1961.
This move highlights Buffett's long-standing interest in the energy sector, particularly oil and gas. Occidental Petroleum exceeded first-quarter expectations with record production and cost reductions. What's behind the industry's sluggish performance? The answer lies in a harsh regulatory environment. In both Canada and legalized US states, marijuana sales and production are subject to strict regulations, which inflate production costs.
NVIDIA Corporation Occidental Petroleum Corporation The Industrial Select Sector SPDR® Fund
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