Energy Sector ETF On Course For Biggest One-day Gain In Three Years

Energy stocks soared in midday trade Wednesday, with the SPDR Energy Select Sector ETF on course for the biggest one-day gain in three years, after oil prices pulled an about-face to trade sharply higher. The energy ETF, or "XLE," surged 4.1%, with 42 of its 43 equity components trading higher. The last time the XLE rose more than 4% was Dec. 20, 2011. Among the XLE's components, the stocks of Nabors Industries , Transocean and Noble Corp. and Newfield Exploration shot up by more than a double-digit percentage. The stocks of the XLE's three most-heavily weighted members, Exxon Mobil , Chevron and Schlumberger , climbed 3%, 4% and 5%, respectively. January crude oil futures, which were down as much as 3% in early-morning trade, were recently up 4%.