Why Halliburton Could Catch a Bounce
The first two post-election trading days have not been kind to investors, as the markets have sold off 3% to 4% across the board. Energy and energy-services stocks have taken slightly bigger hits on concerns about increasing regulations as well as a falling oil price. I believe the first part of these worries is somewhat overblown, and I would look for oil prices to stabilize in the coming weeks as well. The simple fact is that President Obama needs the energy sector to succeed if he is going to get any traction in improving the anemic rate of job growth that persisted throughout his first term.
About one out of every five jobs created since the bottom of the financial crisis has been in the oil and gas sector, on the back of a robust production boom over the past eight years or so. These are good jobs, and outside of a few additional government bureaucrats and regulators, these are among the few high-paying positions that have been created over the past five years....310 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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