Why energy stocks are crushing the S&P 500 in 2026

As the technology sector stumbled in early 2026, American and international oil giants emerged as market leaders, helping keep the S&P 500 roughly flat year-to-date (YTD).S&P 500 stock market index YTD chart. Source: GoogleSpecifically, while the index itself is down 0.22% and big tech firms such as Microsoft (NASDAQ: MSFT) and Nvidia (NASDAQ: NVDA) fell 16% and 2% YTD, firms like Chevron (NYSE: CVX) and Occidental Petroleum (NYSE: OXY) are flying high, having gained 20% and 13%.CVX and OXY stock YTD price ...