Investors are watching for the giant banks to demonstrate how they benefit if interest rates remain higher than expected this yearFILE PHOTO: A trader works on the trading floor at the New York Stock Exchange in New York CityNEW YORK - U.S. energy shares are soaring as investors benefit from rising oil prices and a stronger-than-expected economy, while seeking to protect their portfolios from a feared resurgence of inflation.
The portfolios she manages have been overweight in energy stocks, including those of oil majors Exxon Mobil and Chevron, as she noted more disciplined capital spending by energy companies. Shares of miners, steel firms and other commodity-linked companies have risen along with energy stocks. Analysts are also noting comparatively low valuations. The S&P 500 energy sector trades at 13 times forward 12-month earnings estimates compared to nearly 21 times for the overall S&P 500, according to LSEG Datastream.
Still, she believes the economy could begin slowing in coming months, allowing the Fed to cut rates in June. The search for the 14-year-old girl was abandoned, until a recently formed cold case unit rekindled the investigation, Texas police say.It Is What It Is/YouTubeJust weeks before his death, O.J. Simpson—who was famously acquitted of the brutal 1994 murders of his ex-wife Nicole Brown Simpson and her friend Ron Goldman—made an awkward joke about “confessing.