Energy Transfer Streak Ends; Next Week in Focus
Energy Transfer LP units lost ground Friday, snapping a four-day winning streak as Wall Street’s risk mood took a hit. Shares finished 1.17% lower at $19.39. Trading volume lagged the 50-day average. The units stayed 6.33% below their May 20 peak of $20.70. Energy Transfer had been resisting the slide in growth stocks, with income demand and energy-market volatility offering some support. Friday, the S&P 500 dropped 2.6%, Nasdaq gave up 4.2% and the Dow slid 1.3%. The decline marked the first weekly loss for the S&P 500 in 10 weeks.