Fidelity MSCI Energy Index ETF (ARCA: FENY)

Fidelity MSCI Energy Index ETF (ARCA:FENY), Quote.Headers.trade-ideas

Fidelity MSCI Energy Index ETF

Energy

Other

Basic Materials

Utilities

Healthcare

The fund invests at least 80% of assets in securities included in the funds underlying index. The funds underlying index is the MSCI USA IMI Energy 25/50 Index, which represents the performance of the energy sector in the U.S. equity market. It may or may not hold all of the securities in the MSCI USA IMI Energy 25/50 Index. The fund is non-diversified.

Exxon Mobil Corp.

Chevron Corp

Conocophillips

Eog Resources Inc

Schlumberger Ltd

Marathon Petroleum Corp

Phillips 66

Valero Energy Corp

Williams Companies Inc

Oneok Inc

Large Cap

News

Markets

Analyst Ratings

Trading Ideas

ETFs

FENY

After falling to the lowest level since December 2021, on Tuesday, oil recorded its first weekly gain in a month, buoyed by Hurricane Francine, which disrupted production in the Gulf of Mexico. Brent crude rose above $72 per barrel, pushing its weekly climb to about 2%, while West Texas Intermediate traded below $70 per barrel.

Rise in Oil Price Fails to Lift Energy ETFs: What&#39;s Ahead?

Lynchburg,,Virginia,Usa,-,April,14,,2023:,Florida,Governor,Ron

Equities

Sector ETFs

Social Media

Tech

General

AMZN

EBAY

LYFT

PYPL

SNAP

SOCL

Florida Gov. Ron DeSantis signed a bill Monday that bans the use of social media platforms for children 13 or under.

New Florida Law To Ban Social Media For Kids Under 14, Require ID Checks On All Ages—What&#39;s At Stake For Meta, Snap And Tech ETFs

Photo: Courtesy of International Monetary Fund on Flickr

Government

Economics

Federal Reserve

ESNT

KBWR

UWMC

Banking, Energy Stocks Take Turn For The Worse As Powell Talks Inflation With Senators Who Are Concerned About Job Losses

Donald Trump has vowed to &#8220;get SALT back,&#8221; promising to restore the full deduction for state and local taxes <a href="https://www.benzinga.com/topic/election-poll">if elected in November</a>. The announcement pivots from his previous stance and has reignited discussions about tax policy and its impact on homeowners in high-tax states.
The State and Local Tax (SALT) deduction, a long-standing feature of the U.S. tax code, was capped at $10,000 as part of the 2017 Tax Cuts and Jobs Act – a signature piece of legislation during Trump&#8217;s presidency. According to the Real Deal, the cap disproportionately affected residents of high-tax states like New York, California and New Jersey, many of whom had previously deducted far more than $10,000 in state and local taxes from their federal returns.
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Trump&#8217;s promise comes as he courts voters in the affected areas. He made the announcement ahead of a rally on Long Island, where the impact of the SALT cap has been particularly felt, according to the New York Daily News. In 2017, the cap was seen as a way to offset other tax cuts in the broader reform package and was largely supported by Republican leadership in Congress. With Trump seeking to broaden his appeal, the issue has resurfaced as a potential point of bipartisan agreement.
Trending: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." <a href="https://www.benzinga.com/money/connect-invest-real-estate-notes">These high-yield real estate notes that pay 7.5% &#8211; 9% make earning passive income easier than ever.</a>
Senate Majority Leader Chuck Schumer, a longtime advocate for restoring the full SALT deduction, sees this as an opportunity to leverage bipartisan support for a change that would benefit his New York constituents.
The path to restoring the full SALT deduction is not without obstacles. Critics argue that the move would primarily benefit high-income households in wealthy states, <a href="https://www.benzinga.com/economics/macro-economic-events/24/07/39614880/now-owning-a-house-in-us-is-more-challenging-than-ever-as-affordability-drops-to-">potentially worsening income inequality</a>. Some policy experts have suggested raising the cap to $80,000 or limiting the deduction to households with incomes below $500,000.
Trending: Commercial real estate has historically outperformed the stock market, and<a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate"> this platform allows individuals to invest in commercial real estate with as little as $5,000 offering a 12% target yield with a bonus 1% return boost today!</a>
It&#8217;s worth noting that the current SALT cap, along with other provisions of the 2017 tax law, is set to expire at the end of 2025. The sunset clause means that, barring new legislation, the full deduction would automatically be restored. Trump&#8217;s pledge, therefore, raises questions about whether he would seek to expedite the process or make the change permanent.
While Trump&#8217;s promise has injected new energy into the SALT debate, the deduction&#8217;s ultimate fate will depend on the outcome of the upcoming election and the composition of the next Congress.&nbsp;
Read Next:
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</ul>

Real Estate

Trump Vows To Restore SALT Deduction, Promising Relief For High-Tax State Homeowners

China is implementing stricter export controls on items with both military and civilian applications.
What Happened: The new regulation, approved by the State Council last week, aims to safeguard national security. The Ministry of Commerce had issued a draft of these rules for public feedback in April 2022. The regulation refines the 2020 export control law, addressing fragmented regulations on exports of nuclear technology, missiles, biotech, and chemicals, South China Morning Post<a href="https://www.scmp.com/news/china/politics/article/3279577/china-tightens-military-civilian-export-controls-just-time-experts-said?module=top_story&amp;pgtype=homepage"> reported</a> on Monday.
Lu Xiang, a research fellow at the Chinese Academy of Social Sciences, noted the regulation is timely as new technologies and materials have shown military applications. Examples include communication and remote control technologies, as well as key raw materials. Lu emphasized the need for balancing normal trade with restrictions on dual-use exports.
China's export control law, effective since December 2020, mandates licenses for sensitive technology exports. It also allows Beijing to act against countries violating restrictions or endangering national security. Since last year, China has tightened controls on drones, aerospace equipment, and critical minerals like gallium and germanium.
See Also: <a href="https://www.benzinga.com/news/24/09/40971088/iphone-16-demand-eu-regulations-and-expansion-plans-this-week-in-appleverse?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">iPhone 16 Demand, EU Regulations, And Expansion Plans: This Week In Appleverse</a>
The U.S. and its allies have accused China of supplying <a href="https://www.benzinga.com/news/24/09/40827572/us-and-allies-raise-alarm-over-chinas-support-for-russias-military">dual-use products to Russia</a>, fueling the Ukraine invasion, which Beijing denies. 
Chong Ja Ian, associate professor at the National University of Singapore, stated that further export controls could accelerate the global fragmentation of technology and supply chains.
Why It Matters: The timing of China&#8217;s <a href="https://www.benzinga.com/markets/asia/24/09/40856820/biden-hikes-tariffs-on-chinese-goods-alibaba-jd-com-stocks-drop">new export controls</a> coincides with escalating tensions between China and the United States. The Biden administration recently announced significant tariff hikes on Chinese imports. These tariffs, which include a 100% duty on Chinese electric vehicles and 50% on solar cells, are set to take effect on Sep. 27. The U.S. Trade Representative&#8217;s determination also includes a 50% duty on Chinese semiconductors, which will begin next year.
Did You Know?
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<li>Congress Is Making Huge Investments.&nbsp;<a href="https://www.benzinga.com/gov-trades" target="_blank" rel="noreferrer noopener">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Image via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Politics

Global

China Tightens Export Rules On Nuclear, Biotech And Missile Technologies To Bolster National Security Amid Global Tensions

Sprout Social Partners With Carahsoft Technology, To Provide Partners In Participating State and Local Government Agencies

<a href="https://www.globenewswire.com/Tracker?data=F1GncVvisLoFfa7gzyrMMd4OEx35nN5Ip56GA7HoiHoCltyHZgQGc03ToKK5L4t7LzsiP48npkPv16y-f_G9fw==">Aether Fuels</a> (Aether), a venture-backed climate technology company, today announced that it has signed a Memorandum of Understanding (MOU) with <a href="https://www.globenewswire.com/Tracker?data=HCGFciGu0Mrswjb4-pU3hi_auB_XC0ems9UrkHhd38hEAU-a544LVthb0K5HvXVDE-DzVNn_JwQ_zZKLPoNLtA==">JetBlue</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>). Aether has developed a breakthrough technology that utilizes a diverse array of waste feedstocks to produce sustainable liquid fuels at a lower cost and greater scale than existing approaches. The agreement creates a pathway for Aether to supply JetBlue with sustainable aviation fuel (SAF) when commercial production begins. &nbsp;
The MOU extends Aether's relationship with JetBlue that began when its venture capital subsidiary, JetBlue Ventures, invested in <a href="https://www.globenewswire.com/Tracker?data=F1GncVvisLoFfa7gzyrMMSQAqoVxa8op9wXE_U3ecFYlpMzpC_7cs9lPRrZ51S9Lm2tfMI2anhaHLh27j5r5C45v1WfZYvjHqXc8hDCEaWmNtyKa9Lu80qkkhc0-E70lByS9aou_MZaBx6MsXh_JwdYKeRxib_7Z0cRh9RsyfmVpyxNriJdpJfA2AK6wxQrVwUYKJHjBltsmdPPhPxgnMtjeYyPGATQ8HFr0jZcX3KQ=">Aether's convertible note and Series A financings</a>.
Aether's technology, known as <a href="https://www.globenewswire.com/Tracker?data=F1GncVvisLoFfa7gzyrMMYhZcmdJO3dKEJH7JjS31XpkBKaAcpeESDxiRq2zrakMDOLeJjUTRJckBjSAJDKh_ujY2YSjpoWYskbb1tfOK9M=">Aether Aurora</a>&#x2122;, uses a range of waste carbon feedstocks that do not compete with food or feed value chains. This critical "feedstock flexibility" differentiator enables the large-scale deployment of Aether Aurora technology and contributes to the breakthrough economics that are essential for sustainable liquid fuels, by enabling the conversion of numerous abundant waste carbon feedstocks into jet fuel. This overcomes the supply constraints faced by many other SAF production processes that rely on a limited type of often-scarce or cost-constrained feedstocks.

JBLU

Aether Fuels Signs MOU With JetBlue, Creating A Pathway For Aether To Supply JetBlue With Sustainable Aviation Fuel When Commercial Production Begins

WIIM

GPCR

Structure Therapeutics shares are trading higher after Morgan Stanley initiated coverage on the stock with an Overweight rating and announced a $118 price target.

Market-Moving Exclusives

Exclusives

IPWR

EXCLUSIVE: Ideal Power Tells Benzinga Co. Announces Distribution Agreement With Sekorm Advanced Technology For The Distribution Of Co's Products In China

T2 Biosystems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTOO#NASDAQ">TTOO</a>) (the "Company"), a leader in the rapid detection of sepsis-causing pathogens and antibiotic resistance genes, today highlighted a recently published article in The Lancet, a world-leading medical journal. The article titled "Changing the Culture of Blood Culture" was authored by Sally&nbsp;Davies,&nbsp;Richard A&nbsp;Marfuggi,&nbsp;Rick A&nbsp;Bright,&nbsp;Steve&nbsp;Brozak, and&nbsp;Michael&nbsp;Osterholm on September 20, 2024.

Biotech

TTOO

T2 Biosystems Highlights New Article Published In The Lancet, Titled "Changing The Culture Of Blood Culture"

$199 HERO Joins New Flagship HERO13 Black in Global Distribution Rollout
SAN MATEO, Calif., Sept. 23, 2024 /PRNewswire/ -- Today, GoPro (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GPRO#NASDAQ">GPRO</a>) announced that its new $199 "4K'ing Tiny" camera, simply named "HERO", is now available on retail shelves around the world and for purchase online at&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4260322-1&amp;h=1191966751&amp;u=http%3A%2F%2Fwww.gopro.com&amp;a=GoPro.com">GoPro.com</a>.&nbsp;
Weighing just 86 grams, the tiny new 4K HERO camera is waterproof, durable and combines GoPro's simplest user interface ever with sharp 4K video, 2x slo-mo at 2.7K resolution, and 12 megapixel photos. At $199, HERO is now GoPro's most affordable camera, making it ideal for travelers, creators, families, kids and adventure seekers looking for the simplest, lightest weight, most affordable camera with GoPro's legendary durability and versatility.

GPRO

GoPro Announces That Its New $199 "4K'ing Tiny" Camera, Simply Named "HERO", Is Now Available On Retail Shelves Around The World

LTRY

Lottery.com shares are trading higher after the company announced its subsidiary Sports.com has expanded its geographic reach by launching its platform and content in new markets across Asia.

New solution leverages extensive history of innovation to better serve growing ecommerce market
Pitney Bowes (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBI#NYSE">PBI</a>), a global shipping and mailing company, today announced the launch of ShipAccel, a digital platform designed to simplify and enhance shipping operations with advanced ecommerce technology. This launch reinforces Pitney Bowes' offerings in the ecommerce market, now aimed at equipping shippers with technology that addresses their evolving needs.

Pitney Bowes Enhances Ecommerce Shipping With ShipAccel, Leveraging History Of Innovation To Better Serve Growing Ecommerce Market

<ul>
<li>Turbochargers to boost General Motors' Chevrolet Corvette ZR1 featuring 5.5-liter flat plane crankshaft V8 engine</li>
<li>Turbochargers utilize patented decoupled ball bearing system, enabling faster response time, higher durability, and limited noise
<ul>
<li>Long-standing reputation with NTT INDYCAR SERIES played role in selection</li>
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BorgWarner Launches Passenger Car Twin Turbochargers To Power General Motors' Corvette

Contracts

CLNV

Clean Vision Signs EPC Agreement With UPS Industrial Services For West Virginia Facility; Terms Not Disclosed

Offerings

TMUS

T-Mobile Announces Public Offering Of Senior Notes To Fund General Corporate Purposes, Including Share Repurchases And Debt Refinancing

B. Riley Securities analyst Hal Goetsch maintains Priority Tech Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRTH#NASDAQ">PRTH</a>) with a Buy and raises the price target from $11 to $13.

Price Target

PRTH

B. Riley Securities Maintains Buy on Priority Tech Holdings, Raises Price Target to $13

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page.</a>
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/60784b4c4853ea0001b62900/gil-luria">DA Davidson analyst Gil Luria</a> downgraded the rating for Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) from Buy to Neutral and announced a price target of $475. Microsoft shares fell 0.8% to close at $435.27 on Friday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Bernstein analyst Daniel Roeska downgraded General Motors Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) from Outperform to Market Perform and announced a price target of $53. GM shares gained 0.5% to close at $48.88 on Friday. <a href="https://www.benzinga.com/quote/GM/analyst-ratings">See how other analysts view this stock.</a></li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/61387715a3c6b90001ec2bda/clarke-jeffries">Piper Sandler analyst Clarke Jeffries</a> downgraded the rating for GoDaddy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDDY#NYSE">GDDY</a>) from Overweight to Neutral, but raised the price target from $160 to $172. GoDaddy shares gained 0.3% to close at $160.55 on Friday.<a href="https://www.benzinga.com/quote/GDDY/analyst-ratings"> See how other analysts view this stock.</a></li>
<li>TD Cowen analyst Oliver Chen downgraded Ulta Beauty, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULTA#NASDAQ">ULTA</a>) from Buy to Hold and announced a price target of $395. Ulta Beauty shares fell 0.3% to close at $402.01 on Friday. <a href="https://www.benzinga.com/quote/ULTA/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Raymond James analyst Patrick O&#8217;Shaughnessy downgraded the rating for S&amp;P Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPGI#NYSE">SPGI</a>) from Outperform to Market Perform. S&amp;P Global shares fell 0.1% to close at $523.67 on Friday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying MSFT stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="512" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23084346/image-178-1024x512.png" alt="" class="wp-image-561005" style="width:580px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23084346/image-178-1024x512.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23084346/image-178-300x150.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23084346/image-178-768x384.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23084346/image-178.png 1345w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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</ul>

Downgrades

Pre-Market Outlook

GDDY

MSFT

SPGI

ULTA

This Microsoft Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Monday

KAVL

Kaival Brands Innovations Group shares are trading higher after the company and Delta Corp Holdings  entered a merger and share exchange agreement.

COSM

VRAX

Cosmos Health Enters Exclusivity Agreement With Virax Biolabs To Distribute Mpox Real-Time PCR Detection Kits In India

As of Sept. 23, 2024, three stocks in the financials sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>. 
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">ICICI Bank Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBN#NYSE">IBN</a>)</h3>
<ul>
<li>On July 31, ICICI Bank Limited filed annual report on Form 20-F for the fiscal year 2024. The company's stock gained around 10% over the past month and has a <a href="https://www.benzinga.com/quote/IBN">52-week high of</a> $31.60.</li>
<li>RSI Value: 79.28&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>IBN Price Action: Shares of ICICI Bank gained 2% to close at $31.38 on Friday.</li>
</ul>
<h3 class="wp-block-heading">HDFC Bank Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HDB#NYSE">HDB</a>)</h3>
<ul>
<li>On July 22, JP Morgan analyst Saurabh Kumar downgraded HDFC Bank from Overweight to Neutral. The company's stock gained around 8% over the past month and <a href="https://www.benzinga.com/quote/HDB">has a 52-week high</a> of $67.44.</li>
<li>RSI Value: 79.06</li>
<li>HDB Price Action: Shares of HDFC Bank rose 1.4% to close at $65.73 on Friday.</li>
</ul>
<h3 class="wp-block-heading">Jefferies Financial Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JEF#NYSE">JEF</a>)</h3>
<ul>
<li>On Sept. 17, UBS initiated coverage on the stock with a Buy rating and announced a $67 price target. The company's stock gained around 6% over the past five days and has a <a href="https://www.benzinga.com/quote/JEF">52-week high</a> of $62.67.</li>
<li>RSI Value: 70.42</li>
<li>JEF Price Action: Shares of Jefferies Financial fell 0.4% to close at $62.07 on Friday. </li>
</ul>
Read Next: 
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<li><a href="https://www.benzinga.com/markets/24/09/40962695/jim-cramer-viking-has-many-ships-coming-in">Jim Cramer: Viking Has &#8216;Many Ships Coming In&#8217;</a></li>
</ul>

Short Ideas

Top 3 Financials Stocks That May Plunge In September

JMP Securities analyst Jason West reiterates Marinus Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNS#NASDAQ">MRNS</a>) with a Market Outperform and maintains $10 price target.

Reiteration

MRNS

JMP Securities Reiterates Market Outperform on Marinus Pharma, Maintains $10 Price Target

On Monday, Ideal Power Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IPWR#NASDAQ">IPWR</a>) announced an agreement with Sekorm Advanced Technology (Shenzhen) Co to distribute Ideal Power's products throughout China.
"This leading demand-creation distributor addresses B-TRAN target industrial and automotive markets in China, the world's largest market for power semiconductors. We look forward to collaborating with Sekorm to secure orders that may potentially lead to design wins and/or custom development agreements," Ideal Power CEO Dan Brdar said.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/08/40252763/exclusive-ideal-power-secures-global-distribution-deal-with-ryosho-usa" rel="noreferrer noopener">EXCLUSIVE: Ideal Power Secures Global Distribution Deal with RYOSHO USA</a>
Ideal Power has agreements with three distributors with demand generation expertise and comprehensive customer networks that expand its global reach: Richardson Electronics for the international distribution of Ideal Power's products; RYOSHO U.S.A, INC, a subsidiary of RYODEN CORP for the worldwide distribution of Ideal Power's products with particular strength in Japan; and Sekorm Advanced Technology (Shenzhen) Co for distribution of Ideal Power's products throughout China.
Price Action: IPWR stock closed higher by 7.90% at $8.74 on Friday.
Also Read:
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<li><a href="https://www.benzinga.com/news/24/08/40220352/exclusive-ideal-power-collaborates-with-third-automaker-on-advanced-ev-contactors" target="_blank" rel="noreferrer noopener">EXCLUSIVE: Ideal Power Collaborates With Third Automaker on Advanced EV Contactors</a></li>
</ul>

Regulations

EXCLUSIVE: Ideal Power Partners With Sekorm, Driving Expansion in China's Semiconductor Market

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Fidelity MSCI Energy Index ETF

Overview

Fidelity MSCI Energy Index ETF (ARCA:FENY), Quote.Headers.trade-ideas