Crude Oil + 5%... This is the Bottom.... | Childcare: More Expensive than Rent? | Citigroup Lifts OceanaGold to Buy |

Niv Dagan

Peak Asset Management

Good Morning, Last night, US stocks rose only slightly (Dow + 13 points), as the Energy sector rallied, however, weakness in the Biotech sector weighed on the index…. Data last night showed that International Trade in the US is still weak, amid a high USD…. However, as US Payrolls were extremely weak last month (+142,000 vs. 210,000 expected), chances of interest rates rising in the US have been pulled back…. Driving USD weakness… Now… This is good for Oil, Gold and base metals as commodities are inversely related to the USD… When the USD falls, Commodities “should” rally………. We feel that Oil (+5% last night), has now formed a base and we see upside in the sector…….. (OSH, WPL, AWE, LNG, STO, DLS) are stocks to keep on your radar. Although oil inventories have been rising, we have seen a significant consolidation in the oil & gas space of late (SXY/STO), (WPL/OSH) and see this trend to continue, as valuations become more attractive.... The SPI is up 1 point this morning.


2 topics

4 stocks mentioned

Niv Dagan
Niv Dagan
Executive Director
Peak Asset Management

Prior to founding PEAK Asset Management, Niv headed up HC Securities, spent three years growing Halifax Investments capital markets division and also worked on the wholesale desk at Macquarie Bank, servicing a wide range of institutional,...

Expertise

No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.

Comments

Sign In or Join Free to comment