Market Wrap-Up for Jun.9 (BP, SLB, BTU, XOM, POT, MA, V, more)

By Staff,

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We saw a decent amount of bottom fishing in energy-related plays as the markets attempted to recapture the Dow 10K levels, but heavy selling in BP plc ( BP ) this afternoon pulled the sector and the markets down to finish in the red.

Some of the early winners had included Apache ( APA ) , Peabody Energy ( BTU ) , and Schlumberger ( SLB ) . Regarding a well-known name that investors as well as us here at like to track in the space is Exxon Mobil ( XOM ) . The stock continues to trade near a 52-week low, but is still not a name we are attracted to, even at current levels. We have other names on our recommended list that we are favoring instead.

Positive Wall Street comments were several names we track, including Peabody Energy ( BTU ) , Potash Corp ( POT ) , and Norfolk Southern ( NSC ) , but all the names pulled off the intraday highs to close near their lows of the day. We are keeping a close eye on the financials for any signs the sector is stabilizing. The only names that had been seeming to attract buying interest on up days lately have been Mastercard ( MA ) and Visa ( V ) . Most of those companies gains had evaporated at the close.

Investors should use these big jumps as opportunities to go through one's portfolio and consider looking for stocks that have underperforming and decide whether or not the stocks still make sense to hold. We are continuing to be a bit cautious here, as many have seen by the recent changes to our recommended list. We continue to try and look to position the recommended list as best we can going forward.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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