The neck-and-neck horse race for first place among equity sectors has recently given way to a decisive lead for communications services stocks year to date, based on a set of ETFs through Tuesday’s close (Dec. 10).

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Saudi Arabia is struggling with its plan to keep crude oil prices elevated. “Rising US production and internal OPEC+ pressure limit the kingdom’s sway over prices,” reports The Wall Street Journal. Trump is a new source of uncertainty as US-based shale drillers may be embolded to lift output amid a push for deregulation. Meanwhile, the International Energy Agency estimates global supply will exceed demand by more than one million barrels a day next year without a production cut. Brent, the international oil benchmark, is down 6.5% this year.

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