Today's Big Energy Movers
Jan 2nd 2013 7:30PM
Updated Jan 2nd 2013 7:34PM
The Dow Jones Industrial Average (INDEX: ^DJI) continued its recent march higher today, up 2.35% after Congress averted the fiscal cliff and settled on a compromise to raise taxes on top earnings but capped capital gains and dividend taxes at 20%.
The increased market sentiment sent both WTI and international Brent crude prices higher by 1.2% and 1.1%, respectively. While crude prices are sure to remain volatile, dividend-paying energy stocks could continue to rally after the increased sell-off over the past few months, when investors worried that dividends would be taxed at the same rate as income. Check out the video below for today's energy market movers and which companies could continue to roll throughout 2013.
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The article Today's Big Energy Movers originally appeared on Fool.com.Joel South has no positions in the stocks mentioned above. Taylor Muckerman has no positions in the stocks mentioned above. The Motley Fool owns shares of Ultra Petroleum and has the following options: long JAN 2014 $30.00 calls on Ultra Petroleum, long JAN 2014 $40.00 calls on Ultra Petroleum, long JAN 2014 $50.00 calls on Ultra Petroleum, and short JAN 2014 $20.00 puts on Ultra Petroleum. Motley Fool newsletter services recommend Ultra Petroleum. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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