Shares of energy companies fell, as traders rotated out of the sector, seeking out higher-risk areas such as technology.
One strategist said energy companies are among those whose earnings could rebound after a slump late last year.
"They had an earnings recession in 2023...the earnings outlook and year-over-year comparisons [will] improve in the second half of the year," said Eric Marshall, president of Dallas mutual-fund firm Hodges Capital.
Oil-services giant Schlumberger ticked up after analysts at research firm CFRA boosted their rating on the company's shares.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
05-21-24 1747ET
