US Higher as Energy Shares Lift

Niv Dagan

Peak Asset Management

Good Morning and Happy Friday, US stocks closed higher on Thursday (Dow up around 50 points), with energy shares leading the advance as crude oil rebounded off a sharp decline, while investors bet that companies would top lowered expectations this earnings season. Equities have struggled for direction of late, with investors seeing limited upside potential in equities, but also few alternatives for yield. Many investors are looking ahead to the first-quarter earnings season for market guidance. Earnings for S&P 500 companies are seen falling 2.8 per cent in the first quarter, according to Thomson Reuters data, compared with the rise of 5.3 per cent that had been forecast on January The drop in profits is largely related to strength in the dollar, which analysts said would not necessarily be a long-term detriment to stock prices. Shares trading ex-dividend today: Brickworks, FFI Holdings, Hillcrest Litigation Services and TPG Commodities were mixed last night with Crude oil up 0.73% to $50.79/barrel, Gold down $9/oz. to $1,194 and AUD is just under $0.77 The SPI is pointing to 17 point rise this morning

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,...


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