Energy Sector Layoffs are Over

Evidence in data reported today seems to show the market free of a heavy burden. Announced corporate layoffs decreased in May from a much higher level in April. The data seems to indicate the damage to the energy industry and its ripples through various economies due to the sharp decrease in energy prices of the past year may finally be coming to an end. If my reading of the situation is correct, it would mark relief from a heavy burden on the overall economy and stocks. See my report on the energy sector. Article interests United States Oil (NYSE: USO), iPath S&P GSCI Oil (NYSE: OIL), Energy Select Sector SPDR (NYSE: XLE), SPDR S&P Oil & Gas E&Ps (NYSE: XOP) and Exxon Mobil (NYSE: XOM).

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