Keybanc Maintains Overweight on Matador Resources, Raises Price Target to $73

Nasdaq 100 Rallies, Intel Soars 14%: Stock Market Today

A fourth straight decline in crude oil handed Wall Street a fresh leg higher Monday, with the Nasdaq 100 jumping to a three-month high as semiconductors led the tape. Intel surged nearly 14% on SK Hynix foundry optimism while AMD crossed the $1 trillion mark. Energy was the lone sector in the red as WTI slid more than 5% to an 11-day low

S&P 500 Gains, Crude Falls Ahead Of Fed's Expected First Hike Since 2023: Stock Market Today

Crude tumbles 3.6% on a Saudi pipeline restart, easing yields and lifting chips, while the Fed prepares its first rate hike in nearly three years.

Shares of oil and gas exploration and production companies are trading lower as API data indicating a U.S. crude inventory weekly increase and EIA data showing that gasoline and distillate stored volumes grew since last week are pressuring stocks that have heavier exposure to the North American physical energy market. Also, reports suggesting Saudi Arabia is making efforts to get crude exports moving are dampening oil prices.