Posted in company, funds, sectors, tickers

Economy Boost

The economy worldwide is showing signs of improved performance during the second quarter. The three largest energy-sector exchange-traded funds gained year to date: Energy Select Sector SPDR (XLE) up 8.07% to $65.18, SPDR S&P Oil & Gas Exploration & Production (XOP) up 11.15% to $33.59, and Vanguard Energy (VDE) up 9.14% to $90.71.

Meanwhile, the Vanguard Dividend Appreciation (VIG) gained 5.69% to $82.18 year to date – the largest U.S. dividend exchange-traded fund with $20.6 billion in assets under management at the end of the first quarter.

Saudi Arabia will spin off 5% of the state-run oil company in Hong Kong, London and New York by year 2017, that would be the biggest IPO in history. Plans are to attract Exxon Mobil Corp (XOM), China Petroleum & Chemical Corp (SNP), and BP Plc (BP). General Electric Co (GE) will also invest in Saudi Aramco Energy Ventures LLC.

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